Tamilnad Mercantile Bank Unlisted Shares Details:
Face Value:
₹ 10 Per Equity Share
ISIN:
INE668A01016
Paid Up Equity Capital:
Rs.142.51 Cr
About Tamilnad Mercantile Bank:
The history of Tamilnad Mercantile Bank Ltd., then the Nadar Bank Ltd., dates back to 1921. The thought of establishing a bank under the guidance of the able Nadar business community was mooted out in the Anniversary of Nadar Mahajana Sangam held at Tuticorin in 1920. The proposal was affected soon. The bank was registered on May 11, 1921 as “The Nadar Bank Ltd”.
The bank initially known as “The Nadar Bank Ltd.” become a Scheduled Bank under the Reserve Bank of India Act on 11 May, 1935. The Nadar Bank Ltd., changed its name to the Tamilnad Mercantile Bank Ltd., on November 26, 1962.
The bank was having only 4 branches until the year 1947 at Tuticorin, Madurai, Sivakasi, and Virudhunagar. The bank had also a branch at Colombo in the year 1937 and the same was closed in the year 1939. The bank has now 509 full – fledged branches all over India, 12 Regional Offices, 11 Extension Counters, 6 Central Processing Centres, 1 Service Branch, 4 Currency Chests, and 1151 Automated Teller Machines. All the 509 branches are computerized and interconnected. The first branch outside the State of Tamil Nadu was opened in the year 1976 at Bangalore.
The bank, which had a Net Profit of Rs. 6,984.00 in the year 1921 had spurted its profit to Rs. 5.05 Lakhs in the year 1971 and Rs. 258 Crores for the year ended March 2019. The high level of profit earned by the bank enabled to built up and sustain the high level of reserve base.
Promoters And Management:
Ø Thiru S. Annamalai (Non – Executive Part – Time Chairman):
A leading businessman with close to 50 years of General Manager experience in many SSI/ Large Scale Industries. He was a Director in Bharat Overseas Bank Ltd., between 1987 to 1994. He is Vice Chairman of Pandian Chemicals Ltd., promoted by Metal Powder Company Ltd., and TIDCO.
Ø Thiru K. V. Rama Moorthy (CAIIB, MD & CEO):
Having 34 years of rich banking experience in Bank of Baroda in various cadres from Agri. Officer to Executive Directors. He was Chief Executive, Territorial Head of GCC operation, UAE Dubai during 2014 – 2015. He was then associated with Shahjahanpur RRB as Chairman from June 2015 to January 2016. He was a nominated Director in Nainital Almora Kshetriya Gramin Bank (sponsor bank from Bank of Baroda) during the period from February 2014 to June 2014. He was the Executive Director at the United Bank of India for last 2 years. During his tenure, he was managing, supervising, controlling, and guiding the entire operations of the Bank.