Tamilnad Mercantile Bank, Max Life and Cholamandalam Insurance collaborate to launch new products

29 Nov 2022 , 09:53 AM

Tamilnad Mercantile Bank Limited (TMB), one of the premier scheduled commercial banks, launched the marketing of Life Insurance Products and General Insurance Products through a tie-up arrangement with Max Life Insurance Company Limited and Cholamandalam MS General Insurance Company Limited, respectively.

The event was attended by dignitaries from the insurance companies and the bank. All of the corporations have set up engagement zones to attract customers to the event.

“On getting listed in the Stock Exchanges, Tamilnad Mercantile Bank, is back to enrich our vision in expanding the network PAN India, with added features in the products and services,” said S.Krishnan, MD & CEO, Tamilnad Mercantile Bank Limited (TMB). This tie-up launching function, we believe, is a watershed moment for the Bank.

On September 15, 2022, Tamilnad Mercantile Bank’s shares were listed on stock exchanges at Rs495 on NSE, a discount of 3% against its issue price of Rs510 per share. While on BSE, shares were listed at par.

At around 9.56 AM, Tamilnad Mercantile Bank was trading at Rs510, marginally down against previous close of Rs510.05 on NSE. The counter hit intraday high and low of Rs513.30 and Rs510 respectively. 

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