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Business EconomyPosted at: Sep 17 2021 8:24PM


Tamilnad Mercantile Bank aims ease of doing banking transactions: CEO Rama Moorthy

Kochi, Sep 17 (UNI) In the era of Banking technology reaching greater heights, Tamilnad Mercantile Bank (TDB) is thinking of ways to provide ease of doing banking transactions by its customers through digitization and the newly launched e-Lobby is one such initiatives in line with the same, Bank CEO and MD KV. Rama Moorthy said on Friday.
One of India’s oldest leading private sector banks, TMB has now 509 full-fledged computerised and interconnected branches all over India that is spread across 16 States and four Union Territories, he said in a press release here.
For FY21, the bank's net profit stood at Rs 603 crore as compared to Rs 408 crore in FY20 showing a 48 per cents growth.
Total advances stood at Rs 31,541 crore in FY21 from Rs 28,236 crore FY20. Total deposits stood at Rs 40,970 crore against Rs 36,825 crore last year. Its total business was at Rs 72,511 crore, up 11 per cent from Rs 65,061 crore in FY20, he added.
"Today, we launched an e-Lobby at Tirumala, where the World famous Sri Venkateswara Swamy Temple is located. The manned e-Lobby near to the Tirumala Balaji Bus Stand was inaugurated by AV. Dharma Reddy, IDES, Additional Executive Officer Tirumala Tirupati Devasthanam (TTD)," he said.
TMB has always added value to all the stakeholders for the last 99+ years. The launch of this e-Lobby yet again proves the bank’s commitment to provide an enhanced banking experience to the customers. The 24X7 e-Lobby houses ATM Machine, Cash Deposit Machine, Passbook Printing Facility, Cheque Deposit Kiosk and an Information Kiosk, all under one roof. With this TMB has a total of 51 e-Lobby across India.
TMB’s Tirupathi branch also handed over sanction letters to a few loan beneficiaries. The Bank also handed over subscription to Sri Venkateswara Bhakthi Channel, run by TTD, during the function.
Rama Moorthy said “Today, we dedicate this e-Lobby to the pilgrims who visit the holy shrine of Sri Balaji from various parts of the country and also to the local people."
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