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KRChoksey Research's IPO Report
Tamilnad Mercantile Bank Ltd. is one of India's oldest private sector banks, established in 1921. It provides a wide range of banking and financial services to retail consumers, micro, small, and medium companies, and others.
Tamilnad Mercantile Bank has a robust portfolio of advances and deposits from a diverse customer base which includes retail, agricultural, and MSMEs. As of March 31, 2022, the bank has a strong branch network of 509 branches and a total customer base of 5.08 million. It is head quartered at Thoothukudi, Tamil Nadu, India.
The bank has built a strong presence in the state of Tamil Nadu, with 369 branches and 949 automated teller machines and 255 cash recycler machines as of March 31, 2022.
Besides Tamil Nadu, Tamilnad Mercantile Bank has a sizable presence in the states of Maharashtra, Gujarat, Karnataka, and Andhra Pradesh with presence across 90 branches and 125 ATMs and 18 CRMs as of March 31, 2022.
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