CSB Bank reported total deposits of ₹46,889 crore as on September 30, 2026, marking an 18% year-on-year increase from ₹39,651 crore in the corresponding period last year.

The bank's gross advances stood at ₹42,373 crore, reflecting a 22% growth compared to ₹34,712 crore recorded in September 2025. The data is provisional and subject to limited review by the Joint Statutory Auditors.

Deposit composition and growth drivers

The bank's deposit base expanded significantly, driven primarily by term deposits which grew 22% YoY to ₹38,000 crore. Current Account Savings Account (CASA) deposits saw a more modest 6% increase, rising from ₹8,394 crore to ₹8,889 crore.

Advances and gold loan portfolio

Gross advances reached ₹42,373 crore, up 22% YoY. A significant portion of this book is secured against gold. Advances against Gold & Gold Jewellery (excluding receivables secured against gold) grew 36% YoY to ₹22,301 crore, indicating a strong expansion in this specific lending segment.

What the numbers show

The divergence between deposit and advance growth rates highlights a tightening liquidity position relative to asset growth. While deposits grew 18%, advances grew faster at 22%, suggesting the bank is deploying its funds aggressively. Furthermore, the 36% growth in gold-backed advances significantly outpaces the overall advance growth of 22%, indicating that gold loans are becoming a larger share of the total loan book, now constituting over half of the gross advances.

CSB Bank has appointed Anish Thurthi as an Additional Director in the category of Non-Executive Non-Independent, effective September 25, 2026.

The appointment was approved by the Board of Directors pursuant to the recommendation of the Nomination & Remuneration Committee (NRC). Thurthi is nominated by FIH Mauritius Investments Ltd, the promoter of the bank, and is liable to retire by rotation. The bank will seek shareholder approval for this appointment within the prescribed time period under Section 161 of the Companies Act, 2013.

Professional Background

Thurthi is a Chartered Accountant with over 20 years of experience in investment management, Mergers & Acquisitions (M&A), and financial advisory. He holds a Bachelor of Commerce degree from Bangalore University. Currently, he serves as a Director at Fairbridge Capital Private Limited, an investment advisory firm managing investments for Fairfax Financial Holdings Limited and Fairfax India Holdings Corporation. In this role, he is involved in sourcing and executing new investments.

Prior to his current role, Thurthi was a Partner in the Deal Advisory practice at KPMG India for over 13 years. During his tenure, he advised on more than 200 corporate M&A transactions and private equity investments across sectors including infrastructure, consumer goods, and industrials. His expertise includes financial due diligence, structuring, buyouts, and merger integrations.

Board Committee Reconstitution

The Board also approved the reconstitution of several committees effective September 26, 2026. Thurthi has been inducted as a member of the Nomination and Remuneration Committee and the Corporate Social Responsibility & ESG Committee.

Nomination and Remuneration Committee

Risk Management Committee

Corporate Social Responsibility & ESG Committee

Directorships and Compliance

Thurthi is not related to any other director of the bank and is not debarred from holding office by any regulatory authority. His directorship portfolio includes:

• Bluspring Enterprises Ltd
• Digitide Solutions Ltd
• Quess Corp Limited
• National Commodities Management Services Limited
• Anchorage Infrastructure Investments Holdings Limited
• Maxop Engineering Company Private Limited