TMB meaning in Private Sector Bank in India ?

Answer:

What is Tamilnad Mercantile Bank Limited mean?

Tamilnad Mercantile Bank Limited (TMB) is a bank headquartered at Thoothukudi, Tamil Nadu, India. TMB was founded in 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in November 1962 to widen its appeal beyond the Nadar community. For the financial year 2018–2019, the bank reported a net profit of ₹ 2585 million. The bank currently has 509 full branches throughout India, 12 Regional offices and two link offices, two central processing centres, one Service Branch, four Currency Chests, 48 eLobby centres, 262 Cash Recycler Machines (Cash deposit machine) and 1135 Automated Teller Machines (ATM). The bank has been expanding its footprint all over India.

TMB was rated as the fastest growing Private Sector Bank continuously for the five years from 2010 to 2015. It was also rated as the Best Bank in the years 2013, 2014 and 2015, due to its robust growth. During the years of 2018 and 2019 it did total business of 616 billion rupees. The bank's planned outlay for the financial year is to reach business worth 600 billion rupees, add an additional 24 branches, and increase its ATMs to 1150. The bank has won the Lokmat BFSI Best Private Sector Bank 2014-15 award.

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