Vice-President C. P. Radhakrishnan has urged Tamil Mercantile Bank (TMB) to work towards becoming India’s leading private sector bank within the next 50 years, while ensuring that its headquarters remain permanently in Thoothukudi, where it was established.
He was speaking as the chief guest at the bank’s 105th Foundation Day celebrations held in Thoothukudi on Wednesday. After lighting the ceremonial lamp and paying floral tributes to the bank’s founders, he addressed the gathering.
He said the bank’s 105-year journey reflected the vision, dedication and hard work of its founders, management, employees and customers. The idea of establishing the bank emerged at the Nadar Mahajana Sangam Conference held in Thoothukudi in 1920. It was subsequently founded in 1921 as Nadar Bank Limited to support traders and protect public savings.
From a small beginning, the bank has grown into a major financial institution with 632 branches across 17 states and four Union Territories, serving more than 5.3 million customers. Its total business has crossed Rs. 1.30 lakh crore. He said the success of a bank depended on public trust and its contribution to society. Loans should support genuine business activities, help entrepreneurs expand and enable borrowers to repay, creating a healthy financial cycle that benefits depositors and the banking institution.
He emphasised that banks should consider borrowers’ commitment and dedication to their businesses while sanctioning loans. Branch managers have an important responsibility to identify entrepreneurs who use financial assistance for productive purposes. While continuing support for farmers, small traders and micro, small and medium enterprises, banks should also explore opportunities to finance large enterprises.
Referring to Thiruvalluvar, he highlighted the importance of combining wealth creation with compassion and social responsibility. He said institutional growth should also contribute to the progress of ordinary people.
He appreciated TMB’s adoption of technology, recalling that it had established a fully computerised branch in Thoothukudi as early as 1984. He also acknowledged its progress in digital banking, artificial intelligence and cybersecurity, while stressing the need to protect customers from online fraud and safeguard their personal information.
He noted that India’s banking sector had played an important role in expanding financial inclusion and digital payments. As the country moves towards becoming a developed nation by 2047, banks must contribute to economic growth.
He said TMB’s total business had exceeded Rs. 1.30 lakh crore by September 2026, with annual growth of more than 27 per cent. The bank had also recorded a quarterly net profit exceeding Rs. 450 crore.
He urged the management to pursue national leadership while preserving the bank’s identity and roots in Thoothukudi. Tamil Nadu Governor Rajendra Vishwanath Arlekar, TMB Chairman K. Ramachandran, Managing Director and CEO Salee S. Nair, Executive Director Vincent and other dignitaries attended the event.
