Foreign Exchange

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• From the CEO's Desk
• Knowing TMB
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• Foreign Exchange
• Financial Highlights
• Future Vision

Foreign Exchange Volumes

The bank obtained license to deal in Foreign Exchange in the year 1984. The FOREX department of the bank is functioning in the renowned port city of Tuticorin. The bank had achieved a turnover of Rs. 1825 Crores in foreign exchange for the year ended March 2001. It has achieved a turnover of Rs. 3076 Crores during the year ended March 31, 2006. In terms of Forex turnover, this bank ranks first among the Tamilnadu based private sector banks. The bank is known for its quick and efficient service in this segment. With a view to provide enhanced facilities to the bank's customers the Foreign Exchange Department which was functioning at Tuticorin has been shifted to Chennai as International Banking Division. The bank has become a member of the Society for Worldwide Inter Bank Financial Telecommunications (SWIFT). This communication system besides giving the bank a definite identify will facilitate easy connectivity, quick and proper transfer of funds worldwide in a cost effective manner.

Integrated Treasury and Foreign Exchange Operations

In line with the latest trend in banking our Bank has also shifted its focus to build up its investment portfolio with a blend of good quality and higher yielding investments. The entire investments held as on March 31, 2002 have been marked to market treating them as current investments while the minimum requirement prescribed by Reserve Bank of India in this regard was 75%. The Bank has planned to expand its activity by having an Integrated Treasury and Foreign Exchange Operations Department with adequate infrastructure to handle the trading in Foreign Exchange, derivatives etc., to generate steady stream of income.