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TMB Full Form - Tamilnad Mercantile Bank

 Tamilnad Mercantile Bank

Tamilnad Mercantile Bank

  • The full form of TMB is Tamilnad Mercantile Bank Limited. With its head office in Thoothukudi, Tamil Nadu, India, TMB may be a bank.
  • In 1921, TMB was founded as Nadar Bank, but it had been renamed Tamilnad Mercantile Bank in November 1962 to increase its presence far beyond the Nadar community. With IDBI Bank in 136 locations, & HDFC Bank in 531 locations TMB has tie-up agreements.
    • For 2018 to 2019 financial year, the bank posted a net profit of approximately 2585 million.
    • At present, the bank has 509 complete subsidiaries across India, Twelve regional offices & eleven extension counters, six central processing facilities, one service branch, four currency chests, nineteen e-Lobby centres & 1094 ATM
    • All across India, the bank has expanded its presence.
    • In the period years from 2010 to 2015, TMB was ranked as the largest growing Private Sector Bank.
    • In the years 2013, 2014 and 2015, due to its rapid growth, it also was rated as the best bank.
    • It did a total company of 616 billion rupees during the years of 2018 - 2019.
    • The expected outlay of the bank for the financial year is to the touch 600 billion rupees worth of revenue, create a further twenty-four branches, and raise its atms to 1150.
    • The Lokmat BFSI Best Private Sector Bank 2014-15 award has been won by the bank.

History of TMB

  • TMB ‘s structure dates all the way back to 1921.
  • At the annual general meeting of the Nadar Mahajana Sangam, conducted in Thoothukudi in 1920, the concept of creating a bank for the Nadar business sector was first suggested.
  • AMM Sinnamani Nadar took the lead in 1921 and played a key role within the bank’s development.
  • In addition, AMM Sinnamani Nadar took the initiative to recognize other TMB founders.
  • Under the Indian Companies Act, 1913, the corporate was initially licensed as Nadar Bank Limited on 11 May 1921.
  • On 4 November 1921, M.V.Shanmugavel Nadar was appointed as the very first chairman.
  • On 11 November 1921, T.V.Balagurusamy Nadar introduced the bank to the general public within the Ana Mavanna Building on South Raja Street, Thoothukudi.
  • Nadar Bank opened its first bank branch in Sri Lanka in 1937, but it shut in 1939.
  • By 1947, the bank had only four branches that are at Madurai, Thoothukudi, Sivakasi & Virudhunagar.
  • In 1976, the bank started its first branch in Bengaluru, outside Tamil Nadu State.
  • On 9 December 1984, the primary completely computerized subsidiaries were started at WGC Lane, Thoothukudi.
  • On 11 November 2003, the bank introduced its ATM card.

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