The Hindu : Business : TMB to focus on human resources

Online edition of India's National Newspaper
Saturday, Dec 25, 2004

Business

Business

TMB to focus on human resources

By Our Staff Reporter

TUTICORIN, DEC. 24. The Chairman of Tamilnad Mercantile Bank, S. Radhakrishnan, today said "We will focus on improving the `human resources' of the bank in the coming years to effectively build on our core strengths and provide better facilities to the customers."

Addressing media persons, he said plans were also in the offing to professionalise the entire banking activities to give new image to the bank in the eyes of the customers.

About other initiatives taken to facilitate better transactions, he said "170 out of a total 171 branches were interlinked through computer network and now the bank planned to install at least 20-25 more ATMs before March 31, 2005."

Stating that a profit of Rs. 81 crores was recorded in the last fiscal, he said "The bank was able to reduce the non-performing assets (NPA) from 8.7 per cent to 5 per cent, during the previous financial year," and added that there were plans to bring it down further to 3 per cent by the end of the current fiscal.

On whether ownership issues affect the governance, the chairman said `not much' and added that profit per employee was more than the average.

Mr. Radhakrishanan said the bank envisaged to have total business of Rs. 8,200 crores before the end of the current financial year, in which 58-60 per cent would be credit and the balance deposits.

On future plans, he said the bank planned to handle insurance products.

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