Net interest income increased by 7.99% year on year (YoY) to Rs 527 crore in the quarter ended 31 March 2023. Net interest margin stood at 4.49% in Q4 FY23 as against 4.40% posted in Q4 FY22.

Operating profit declined 5.16% to Rs 404 crore in Q4 FY23 from Rs 426 crore posted in Q4 FY22.

On the asset quality front, gross non performing assets (NPAs) amounted to Rs 521.46 crore as of 31 March 2023 as against Rs 570.92 crore as on 31 March 2022 and Rs 591.08 crore as on 31 December 2022.

Gross NPA ratio was 1.39% as of 31 March 2023 as against 1.69% as on 31 March 2022 and 1.70% as on 31 December 2022.

Net NPA ratio was 0.62% as of 31 March 2023 as against 0.95% as on 31 March 2022 and 0.75% as on 31 December 2022.

Provision coverage ratio (PCR) (with technical write-off) stood at 90.90% as of 31 March 2023 as against 87.92% as of 31 March 2022 and 89.83% as of 31 December 2022.

Deposits of the bank stood at Rs 47,766 crore as of 31 March 2023, recording a growth of 6% YoY. Total advances of the bank stood at Rs 37,582 crore as of 31March 2023, up by 11% YoY.

CASA deposits of the bank stood at Rs 13,736 crore as of 31March 2023, recording a growth of 0.22% YoY. CASA ratio stood at 29% as of 31 March 2023 as against 31% as on 31 March 2022.

CRAR stood at 26.26% as at 31 March 2023 as against 22.06% as of 31 March 2022. Out of total CRAR, CET-1 was 24.61%.

The bank's board has recommended the dividend of Rs 5 per equity share for financial year 2022-23, subject to the approval of the shareholders.

Tamilnad Mercantile Bank is one of the renowned old private sector banks. TMB has a pan India presence with 530 branches, 1,149 ATMs and 324 CRMs.

The scrip rose 0.84% to Rs 407.40 on the BSE.