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Tamilnad Mercantile Bank IPO - Healthy Fundamentals At Reasonable Valuations: ICICI Direct

Tamilnad Mercantile Bank IPO - Healthy Fundamentals At Reasonable Valuations: ICICI Direct

<div class="paragraphs"><p>Tamilnad Mercantile Bank corporate head office, Tuticorin, Tamil Nadu. (Source:Company's website)</p></div>
Tamilnad Mercantile Bank corporate head office, Tuticorin, Tamil Nadu. (Source:Company's website)

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ICICI Direct's Report

Tamilnad Mercantile Bank Ltd. has ~100 year’s legacy with ~80% of its customers associated with the bank for more than five years. The focus on low cost current accounts and savings account deposits is expected to keep borrowing cost lower.

The bank's focus on new geographies coupled with southern states to accelerate growth.

Tamilnad Mercantile Bank focuses on increasing its digital footprint, which, in turn, has improved its operational processes, which has reduced costs resulting in improving profitability.

The bank has 369 branches, 949 ATMs in Tamil Nadu with a share of ~75% in total business.

Click on the attachment to read the full IPO report:

ICICI Direct TamilNad Merchantile Bank IPO Review.pdf
Opinion
Tamilnad Mercantile Bank IPO: All You Need To Know

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