TMB Full Form
by Yogi P - August 27, 2023
What is the full form of TMB?
Full form of TMB is Tamilnad Mercantile Bank Limited.
What does TMB stand for?
TMB stands for Tamilnad Mercantile Bank Limited. Established in 1921 as Nadar Bank in Thoothukudi, Tamil Nadu, it adopted its current name in 1962 to appeal to a wider clientele. Today, TMB collaborates with banks like IDBI and HDFC across multiple locations.
Financial Highlights:
- In the financial year 2018-2019, TMB reported a net profit of around 2585 million rupees.
- The bank aims to achieve a revenue of 600 billion rupees, add 24 more branches, and increase its ATMs to 1150 in the coming years.
- TMB was recognized as the fastest-growing Private Sector Bank from 2010 to 2015 and was named the best bank in 2013, 2014, and 2015 due to its remarkable growth.
- The bank earned the Lokmat BFSI Best Private Sector Bank award for 2014-15.
Current Infrastructure:
- The bank boasts 509 subsidiaries, 12 regional offices, 11 extension counters, and several facilities including six central processing centers, a service branch, four currency chests, 19 e-Lobby centers, and 1094 ATMs.
A Glimpse into TMB’s History:
- The idea of creating a bank for the Nadar business community was first proposed at a meeting in Thoothukudi in 1920.
- The bank was founded in 1921, with AMM Sinnamani Nadar playing a pivotal role.
- Initially named Nadar Bank Limited, it was established under the Indian Companies Act of 1913 on 11 May 1921.
- M.V.Shanmugavel Nadar became its first chairman on 4 November 1921, and the bank officially opened its doors on 11 November 1921 in Thoothukudi.
- By 1947, TMB had four branches located in Madurai, Thoothukudi, Sivakasi, and Virudhunagar.
- The bank expanded outside Tamil Nadu in 1976 with a branch in Bengaluru.
- TMB embraced technology by launching its first fully computerized branch in 1984 and introduced its ATM card in 2003.
Authenticated resource of this informations: Official website of Tamilnad Mercantile Bank Limited at https://www.tmbnet.in/
