Friday, Jul 04, 2003
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By Our Staff Reporter
Addressing a press conference here, the TMB Chairman, R. Natarajan, said the bank's new rates would be on a par with the ones of public sector banks, he said.
On the performance of the bank, he said its deposits stood at Rs. 4,080 crores and advances at Rs. 2,120 crores in 2002-03. The business volume had crossed Rs. 6,200 crores as on March 31, 2003. By the end of the current fiscal, the bank was aiming at Rs. 5,100 crore deposits and Rs. 2,800 crore advances.
About non-performing assets (NPA), Mr. Natarajan said the bank had recovered bad debts to the extent of Rs. 45 crores last year and the level of NPA was expected to come down to 6 per cent. A currency note sorting machine, costing Rs. 20 lakhs, was inaugurated by S. Rathinavelu, President, Tamil Nadu Chamber of Commerce and Industry.
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