October brought a refreshing wave of optimism as foreign investors rekindled their interest in India’s financial services, funneling impressive amounts of money back into the market after a dry spell of outflows. This shift is primarily spurred by stronger-than-anticipated results from banks and an encouraging outlook for public sector banking.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.