CSB Bank , a prominent private sector bank, has reported a 16% year-over-year increase in net profit for the second quarter, demonstrating robust financial performance amid challenging market conditions.

Key Financial Highlights

• Net Profit: The bank's net profit rose to ₹160.33 crore, up from ₹138.41 crore in the same quarter last year, marking a 16% growth.
• Total Income: CSB Bank's total income saw a significant jump of 37% year-over-year, reaching ₹1,458.36 crore compared to ₹1,064.23 crore in the corresponding quarter of the previous year.
• Net Interest Income (NII): NII grew by 15% to ₹424 crore from ₹367 crore year-over-year.
• Non-Interest Income: The bank reported a substantial 75% increase in non-interest income, rising to ₹349 crore from ₹199 crore year-over-year.

Improved Asset Quality

CSB Bank's asset quality showed notable improvement:

• Gross Non-Performing Assets (GNPA): Declined to 1.81% as of September 30, from 1.84% at the end of the previous quarter.
• Net Non-Performing Assets (NNPA): Decreased to 0.52% from 0.66% quarter-over-quarter.

Business Growth

The bank demonstrated strong growth in its core business areas:

• Gross Advances: Increased by 29% year-over-year to ₹34,712 crore.
• Total Deposits: Grew by 25% to ₹39,651 crore compared to the same period last year.
• Gold Loan Portfolio: Expanded by 37% year-over-year, reaching ₹16,456 crore.

Other Key Metrics

• Capital Adequacy Ratio: Stood at a healthy 20.99% as of September 30.
• Return on Assets (ROA): Improved to 1.33% for the quarter.
• Cost to Income Ratio: Slightly improved to 63.86% from 64.66% year-over-year.

Management Commentary

Pralay Mondal, Managing Director & CEO of CSB Bank, commented on the results: "Our performance this quarter demonstrates a steadfast commitment to the SBS 2030 envisioned by the Bank. Despite the ongoing challenges in the broader market, our team's strategic focus on both growth and system stabilization in a calibrated manner has driven improved outcomes as compared to Q1."

He further added, "With strong liquidity and capital buffers, we are well-positioned to maintain our growth trajectory in the upcoming quarters. We remain fully committed to continuously raising performance standards and fulfilling the expectations of our stakeholders."

CSB Bank's quarterly results reflect its resilience and strategic focus on sustainable growth. The bank's improved asset quality, robust business growth, and strong capital position indicate its potential for continued success in the competitive banking sector.

CSB Bank , a prominent player in the Indian banking sector, has announced impressive growth figures for the second quarter, demonstrating strong performance across key financial metrics.

Deposit Growth

The bank reported total deposits of ₹39,651.00 crores as of September 30, representing a substantial 25% year-on-year growth. This significant increase in deposits indicates growing customer trust and the bank's ability to attract funds effectively.

Advances Surge

Simultaneously, CSB Bank's advances reached ₹34,730.00 crores, marking a noteworthy 29% year-on-year increase. This robust growth in the loan book suggests a healthy demand for credit and the bank's aggressive lending strategy.

Detailed Financial Metrics

The bank's latest LODR (Listing Obligations and Disclosure Requirements) filing provides a more comprehensive view of its financial position:

Key Highlights

• CASA (Current Account Savings Account) Growth: The bank's CASA deposits grew by 9% year-on-year, reaching ₹8,394.00 crores. While this growth is positive, it lags behind the overall deposit growth, indicating a higher proportion of term deposits in the mix.

• Term Deposits Surge: Term deposits showed a robust increase of 29% year-on-year, amounting to ₹31,257.00 crores. This substantial growth in term deposits has been a significant contributor to the overall deposit growth.

• Gold Loan Portfolio Expansion: CSB Bank's advances against gold and gold jewelry (excluding receivables secured against gold) saw an impressive 37% year-on-year growth, reaching ₹16,457.00 crores. This substantial increase highlights the bank's strong position in the gold loan segment.

Quarterly Progression

The provisional data for September 30 shows consistent growth when compared to the previous quarter and the last audited figures. This trend indicates steady progress in the bank's key financial parameters.

CSB Bank's strong performance in both deposits and advances demonstrates its robust business model and effective growth strategies. The significant expansion in the gold loan portfolio also underscores the bank's expertise in this niche segment. As these figures are provisional and subject to a limited review by the bank's joint statutory auditors, investors and analysts will be keenly awaiting the final audited results for a comprehensive assessment of CSB Bank's financial health and future prospects.