Tamilnad Mercantile Bank Limited is one of the oldest private sector banks in India. It was founded in the year 1921 as The Nadar Bank Limited by the Nadar business community under the guidance of Nadar Mahajana Sangam. However, the bank changed its name to Tamilnad Mercantile Bank in November 1962 to expand its operations beyond the Nadar community. The bank is particularly strong in South India but has a pan-India presence.
| Particular | Details |
| Bank Name | Tamilnad Mercantile Bank Limited |
| Type | Private Sector |
| Founded | 11th May 1921 |
| Founder | Nadar Mahajana Sangam |
| Headquarters | Thoothukudi, Tamil Nadu, India |
| MD & CEO | Salee S Nair |
| Chairman | K. Ramachandran |
| Regulator | RBI |
| Services | Retail Banking, Corporate Banking, MSME and Agricultural Banking and more |
| Branch Network | 600 |
| Customer Base | +50 lakh |
| Total Deposits | INR 55,421 crore |
| Total Advances | INR 46,930 crore |
| CASA Ratio | 27.94% |
| Bank Type Focus | Consumer Banking, Loans, MSME and Agricultural Banking |
| Official Website | www.tmb.bank.in |
Net Worth and Market Cap
Net Worth of Tamilnad Mercantile Bank Limited was approximately INR 9,009 crore in March 2025. The current market capitalisation of the bank is INR 8,740.21 crore.
Corporate Leadership
Salee S Nair is currently serving as the Managing Director and CEO of Tamilnad Mercantile Bank Limited. K. Ramachandran is the Non-Executive Part-Time Chairman and Independent Director, while Vincent Menachery Devassy is the Executive Director of the bank.
Summary of Banking Products and Services
Tamilnad Mercantile Bank offers a comprehensive suite of banking products and services for retail, business, MSME, NRI and other categories of customers. The bank emphasises on competitive interest rates, no-fee option on select products, digital innovation and customer-centric solutions.
Savings accounts are available in multiple tailored variants. These include royal savings accounts, premium savings accounts, dynamic youth savings accounts, little super star savings accounts and basic savings accounts. Retail loan options offered by the bank include home loans, car loans, two-wheeler loans, pensioner loans, personal loans, loan against property, loan against fixed deposit and gold loans.
Corporate banking solutions include current accounts and operative accounts for businesses, MSME credit like working capital loans, specialised funding and term loans, trade finance and overdrafts. The bank also offers specialised agricultural loans like cultivation, tractor and more.
A number of digital banking services are provided to the customers. They include mobile banking through TMB MBank app, internet banking, UPI, online bill payments, online EPF payments and KYC activation online.
Headquarters and Network
Tamilnad Mercantile Bank Limited is headquartered in Thoothukudi, Tamil Nadu, India. The bank has a network of 600 branches, 1151 ATMs, 402 cash recycler machines, 64 e-lobbies and 155 mini e-lobbies across India. In addition, it operates 12 regional offices, 2 central processing centres and 1 service branch.
