Tamilnad Mercantile Bank has declared an interim dividend of Rs. 900 per share for the current financial year The bank reported a 64 per cent rise in its net profit at Rs. 188.92 crore in the half year ended September 30, against Rs. 115.21 crore in the same period in 2011-12. Total deposits went up by 24.7 per cent to Rs. 18,075 crore from Rs. 14,494 crore, while advances rose by 34.9 per cent to Rs. 15,341 crore from Rs. 11,373 crore.
The net interest margin was higher at 4.30 per cent against 4.05 per cent. The net NPA (non-performing assets) ratio stood at 0.58 per cent against 0.66 per cent.