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The Enforcement Directorate (ED) on Tuesday said it has seized assets worth Rs 293.91 crore belonging to Tamilnad Mercantile Bank's (TMB) former Chairman Nesamanimaran Muthu alias MGM Maran under the Foreign Exchange Management Act (FEMA).
The Tamilnad Mercantile Bank (TMB), which will turn 100 this year, will come out with an initial public offering (IPO) of about Rs 1,000 crore to Rs 1,200 crore, said a top official of the bank. The official also said that TMB logged an after tax profit of Rs 603.33 crore for the year ending March 31, 2021, as compared to Rs 407.69 crore reported in the corresponding period of the previous fiscal. The bank's total business for FY 2020-21 stood at Rs 72,511.45 crore (deposits Rs 40,970.42 crore, advances Rs 31,541.03 crore), up from Rs 65,061.21 crore (deposits Rs. 36,825.03 crore, advances...
Tamilnad Mercantile Bank plans Rs 1.2K cr IPO this fiscal By IANS | 5 Views Iran, Syria to launch joint bank to facilitate trade ties. Image Source: IANS News Chennai, April 27 : The Tamilnad Mercantile Bank (TMB), which will turn 100 this year, will come out with an initial public offering (IPO) of about Rs 1,000 crore to Rs 1,200 crore, said a top official of the bank. The official also said that TMB logged an after tax profit of Rs 603.33 crore for the year ending March 31, 2021, as compared to Rs 407.69 crore reported in the corresponding period of the previous fiscal. The bank'...