Release Year:2017
The history of Tamilnad Mercantile Bank Ltd., the then Nadar Bank Ltd., dates back to 1921. The thought of establishing a bank under the guidance of the able Nadar business community was mooted out in the Anniversary of Nadar Mahajana Sangam held at Tuticorin in 1920. The proposal was effected soon. The bank was registered on May 11, 1921 as “The Nadar Bank Ltd”.
A group of dedicated men with shrewd acumen and sound integrity had been constituted as Board of Directors and they elected Shri M.V. Shanmugavel Nadar as Chairman on Nov 04, 1921. The bank was opened by Shri T.V. Balagurusamy Nadar, the then President of the Nadar Mahajana Sangam and the bank threw open its door to the public on Nov 11, 1921 at 9am in Ana Mavanna Building at South Raja Street, Tuticorin. The bank was having only 4 branches until the year 1947 at Tuticorin, Madurai, Sivakasi and Virudhunagar. The bank had also a branch at Colombo in the year 1937 and the same was closed in the year 1939. The bank has now 505 full fledged branches all over India, 12 Regional Offices, 11 Extension Counters, 6 Central Processing Centres, 1 Service Branch, 4 Currency Chests and 1062 Automated Teller Machines. All the 505 branches are computerised and interconnected. The first branch outside the State of Tamilnadu was opened in the year 1976 at Bangalore. The first fully computerized branch was opened at WGC Road, Tuticorin on Dec 09, 1984. The bank had established its first currency chest in 1993 at Madurai & has industrial finance branches at Coimbatore, Chennai and Secunderabad. The Bank has launched ATM Card from Nov 11, 2003.
