Tamilnad Mercantile Bank

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.