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The growth was driven by a 28.10% year-on-year increase in term deposits, which reached ₹25,365 crore, up from ₹19,802 crore. CASA deposits also grew by 6.60% year-on-year to ₹8,041 crore, compared to ₹7,543 crore in the previous year.
Gross advances saw a 26.45% year-on-year increase, climbing to ₹28,914 crore from ₹22,867 crore as of December 31, 2023. Notably, advances against gold and gold jewellery (excluding receivables secured against gold) surged by 36.28% year-on-year to ₹13,018 crore from ₹9,553 crore.
Also Read: CSB Bank wants to trim gold loan share to 20% of portfolio in the next few years
CSB Bank reported a 4% year-on-year (YoY) increase in net profit, reaching ₹138.4 crore for the second quarter ending September 30, 2024, according to its exchange filing on Thursday. The lender had posted a net profit of ₹133.2 crore during the corresponding quarter of the previous fiscal.
The bank’s net interest income (NII)—the difference between the interest earned from lending and the interest paid on deposits—saw a 7% growth, rising to ₹368 crore from ₹343 crore in the same quarter of FY24.
On the asset quality front, CSB Bank’s gross non-performing assets (GNPA) stood at 1.68%, slightly improving from 1.69% in the June quarter. Net NPA was recorded at 0.69%, marginally higher than the 0.68% in the previous quarter. Provisions for the quarter stood at ₹14 crore, compared to ₹20 crore in the June quarter.
Also Read: CSB Bank aims to grow its asset base at least 30% faster than the industry this year
Shares of CSB Bank Ltd ended at ₹315.30, up by ₹1.60, or 0.51% on the BSE.
