CSB Bank Q3 results: Net profit falls 4% to Rs 150 crore, asset quality stays healthy

The net interest income (NII) was at Rs 382 crore, compared to Rs 343 crore reported in the corresponding quarter of the previous fiscal.

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CSB Bank on January 29 reported a net profit of Rs 150 crore for the October-December quarter of the financial year 2023-24, a 4 percent drop from Rs 155 crore clocked in the year-ago period.

Net interest income (NII) for the quarter stood at Rs 382 crore, higher than Rs 343 crore reported in the corresponding quarter of the previous fiscal. The net interest margin of the bank stood at 5.11 percent, down by 41 bps on YoY basis.

CSB Bank's gross non-performing asset (NPA) stood at 1.22 percent and net NPA for the quarter stood at 0.31 percent.

The lender's total deposits stood at Rs 27,345 crore and total advances stood at Rs 22,867 crore.  The gold loan portfolio of the bank jumped 23 percent to Rs 10,817 crore. Corporate loans grew 10 percent to Rs 6013 crore, retail loans jumped by 44 percent and stood at Rs 3459 crore and SME loans grew 28 percent to Rs 2369 crore.

Following the earnings, shares of the bank were trading 0.13 percent down at Rs 373.10 apiece on the BSE at 2.44 pm.