Tamilnad Mercantile Bank Limited was established in the year 1921 named as the Nadar bank, later changed its name to Tamilnad Mercantile Bank in November 1962 to broaden its appeal beyond the Nadar Community. The bank has MD and CEO as K.V Rama Moorthy. The bank now has a network of 509 branches across India, 12 Regional offices, eleven extension counters, one service branch, six central processing centers 19 lobby centers, four currency chest and 1094 ATMs. Tamilnad Mercantile Bank was the first private sector bank in India to introduce digitalization for branch level operations.
TMB was ranked as the fastest emerging private sector bank for the 5 consecutive years from 2010 to 2015. The bank was considered the best bank due to its robust growth in the years 2013, 2014, and 2015. The bank reached a total business growth of 541 billion rupees. And planned to reach a business worth 600 billion rupees, to add an additional 24 new branches and increased the count of ATMs to 1150. The bank has won the Lokmat FSI best private Sector Bank 2014-15 award.
The bank financial services and products include- Personal Banking (Saving Account, Fixed Deposits, Recurring Deposits, Retail Services And Loans- Personal Loan, Home Loan, House Rent Loan, Doctor Loan, Education Loan, Short Term Study Loan, Skill Development Loan, Two Wheeler Loan, Car Loan Vehicle Finance, Gold Over Draft, and IPO Finance Loan), NRI & International Banking, Business and Corporate Banking.