CSB Bank Q2 results: Private sector lender CSB Bank Ltd reported a 4% year-on-year increase in net profit for the second quarter ending September 30, 2024, amounting to ₹138.4 crore, up from ₹133.2 crore during the same period last fiscal.
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The bank’s net interest income (NII), reflecting the difference between interest earned from loans and interest paid on deposits, grew by 7%, reaching ₹368 crore compared to ₹343 crore in the corresponding quarter of FY24.
In terms of asset quality, CSB Bank’s gross non-performing assets (GNPA) improved slightly to 1.68%, down from 1.69% in the previous quarter. However, net NPA increased marginally to 0.69%, compared to 0.68% in the previous quarter. Provisions for the quarter decreased to ₹14 crore from ₹20 crore in Q1 FY25.
The bank reported a robust 25% year-on-year increase in total deposits, rising from ₹25,438 crore on September 30, 2023, to ₹31,840 crore by September 30, 2024. The Current Account Savings Account (CASA) ratio was recorded at 24% in September 2024.
Net advances also saw strong growth, increasing by 20% year-on-year, from ₹22,256 crore to ₹26,602 crore, driven by a notable 28% rise in gold loans.
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For Q2FY25, CSB Bank achieved a return on assets (RoA) of 1.50% and a net interest margin (NIM) of 4.30%. Additionally, operating profit rose sequentially by 16% to ₹200 crore, with non-interest income increasing by 16% QoQ to ₹199 crore, reflecting a 40% YoY jump. The bank’s Capital Adequacy Ratio (CAR) was at 22.74%, above regulatory norms, while its shares ended at ₹309.70, up by 2.24% on the BSE.
