Private sector lender CSB Bank reported on July 20 a net profit of Rs 132 crore for the April-June FY24 quarter, 15.8 percent higher compared to Rs 114 crore in the corresponding quarter last year.
The lender's net interest income (NII) for the first quarter stood at Rs 364. cr with a Y-o-Y increase of 17 percent from Rs 311 crores.
Gross non-performing asset (GNPA) of the bank stood at 1.27 percent, down from 1.79 percent recorded in the same quarter last year. Whereas, the net NPA (NNPA) of the lender for the quarter stood at 0.32 percent, declining from 0.60 percent on a year-on-year basis.
The bank's total deposits grew by 21 percent YoY and are at Rs 24,475 crores compared to Rs 20,267 crores correspondingly. The bank's current account and savings account (CASA) book grew by 6 percent from Rs 7123 cr to Rs 7548 cr. The CASA ratio stood at 30.84 percent.
Advances of the bank grew by 31 percent YoY to Rs 21103 cr as supported by a robust growth of 42 percent in gold loans on YOY basis.
Segment wise advances
CSB Bank's gold loan portfolio, a sector where the bank has a strong hold, grew by 42 percent to Rs 10,072 crores from Rs 7107 crores.
The bank retail portfolio, which grew by 41 percent, stood at Rs 3155 crores from Rs 2243 crores.
Corporate saw 16 percent growth to Rs 6191 crores from Rs 5328 crores.
Small, Medium enterprises (SME) saw a growth of 6 percent to Rs 2527 crores from Rs 2389 crores.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
