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CSB Bank Results: Latest Quarterly Results & Analysis

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CSB Bank Ltd. 13 Aug 2025 16:16 PM
Result PDF

Q1FY26 Quarterly Result Announced for CSB Bank Ltd.

CSB Bank announced Q1FY26 results

  • Total Deposits grew by 20% YoY from Rs 29,920 crore as on 30.06.2024 to Rs 35,935 crore as on 30.06.2025. The CASA ratio stood at 23% as of 30.06.2025.
  • Advance (Net) grew by 31% YoY from Rs 24,844 crore as on 30.06.2024 to Rs 32,552 crore as on 30.06.2025, supported by a robust growth of 36% in gold loans on a YoY basis.
  • Net Interest Income (NII) up by 5% YoY from Rs 362 crore for Q1FY25 to Rs 379 crore for Q1FY26.
  • Non-Interest Income up 42% YoY from Rs 172 Crore for Q1FY25 to Rs 245 Crore for Q1FY26.
  • Cost Income Ratio is at 65% for Q1FY26, reduced from 68% for Q1FY25. The Bank continues to make significant investments in people, distribution, systems & processes in the build phase aimed at creating a strong foundation for the scale that we aspire to achieve as part of the SBS 2030 vision.
  • Operating Profit up by 28% YoY from Rs 172 crore for Q1FY25 to Rs 220 crore for Q1FY26.
  • Profit after Tax (PAT) up by 5% YoY from Rs 113 crore for Q1FY25 to Rs 119 crore for Q1FY26. We continue to maintain the accelerated provisioning policy during this quarter as well. Return on Assets and NIM were at 1.03% and 3.54% respectively, during Q1FY26.
  • Robust Capital Structure - Capital Adequacy Ratio is at 21.71%, which is well above the regulatory requirement. CRAR as on 30.06.2024 was 23.61%
  • Asset Quality & Provisioning – Gross non-performing assets were at 1.84% as on 30.06.2025, as against 1.69% as on 30.06.2024. Net non-performing assets were at 0.66% as on 30.06.2025, as against 0.68% as on 30.06.2024.

Pralay Mondal, Managing Director & CEO, said: Q1FY26 is incredibly special for us as it marked a pivotal milestone of our successful CBS migration along with the rollout of fifty-plus surround systems, thus enhancing our capabilities manifold and taking us very close to the launch of Scale Phase in our SBS 2030 journey. As the complexity and dimensions of the tech transformation that we undertook were huge, the entire CSB team’s priority during the quarter was on getting it stabilised and reaping the benefits subsequently. Despite these challenging times, we had a decent quarter in terms of growth and profitability.

We could register a growth of 20% in deposits and 31% in gross advances on a YoY basis as at the quarter end. Our CASA book grew by 13% over Q1FY25. All the asset verticals, viz, Retail including Gold, SME and WSB, continued the growth trajectory, and overall assets registered a YoY growth of above 30%. The gold portfolio grew by 36%.

On the bottom line, our operating/net profit grew by 28% and 5% respectively, compared to Q1FY25. Our fee momentum continued with a 42% growth on a YoY basis. GNPA and NNPA ratios of 1.84% and 0.66% respectively, were within our overall guidance. The cost-to-income ratio is showing a declining trend on a YoY basis. Though the elevated costs, primarily driven by technology implementation and slightly higher slippages, put some pressure on the bottom line, the profitability, efficiency, liquidity, and capital adequacy ratios continue to be stable, and CRAR is well above the regulatory prescriptions as applicable.

With the new systems getting stabilised, we look forward to consolidating our performance in the ensuing quarters & working towards achieving bigger milestones as envisaged in SBS 2030.

Result PDF

Result PDF

CSB Bank announced Q4FY25 & FY25 results

Financial Highlights:

  • Total Deposits grew by 24% YoY from Rs 29,719 crore as on 31.03.2024 to Rs 36,861 crore as on 31.03.2025. The CASA ratio stood at 24% as on 31.03.2025.
  • Advance (Net) grew by 29% YoY from Rs 24,336 crore as on 31.03.2024 to Rs 31,507 crore as on 31.03.2025 supported by a robust growth of 35% in gold loans on YoY basis. We continue to maintain the accelerated provisioning policy during this quarter as well. Return on Assets is 1.79% for Q4FY25 and 1.53% for year ended 31 March 2025.
  • Operating Profit up by 44% QoQ from Rs 221 crore for Q3FY25 to Rs 317 crore for Q4FY25 and up by 39% YoY from Rs 228 crore for Q4FY24. FY25 operating profit grew YoY by 17% and stood at Rs 910 crore against Rs 780 crore in FY24.
  • Net Interest Income (NII) for FY25 flat at Rs 1,476 crore compared to FY24. NII stood at Rs 371 crore for Q4FY25 against Rs 375 crore in Q3FY25 and Rs 386 crore for Q4FY24.
  • Non-Interest Income for FY25 saw an impressive growth of 66% over FY24 mainly due to increased Fee Income and Treasury Profits. Non-interest income grew by 74% QoQ from Rs 219 crore for Q3FY25 to Rs 381 crore for Q4FY25 and 94% YoY from Rs 197 crore for Q4FY24.
  • Cost Income Ratio is at 58% for Q4FY25 reduced from 63% for Q3FY25 as against 61% for Q4FY24 and the corresponding ratio for FY25 stood at 63% against 62% for FY24
  • Robust Capital Structure - Capital Adequacy Ratio is at 22.46%, which is well above the regulatory requirement. CRAR as on 31.03.2024 was 24.47%
  • Asset Quality & Provisioning – Gross non-performing assets were at 1.57% as on 31.03.2025 as against 1.58% as on 31.12.2024 and 1.47% as on 31.03.2024 Net non-performing assets were at 0.52% as on 31.03.2025 as against 0.64% as on 31.12.2024 and 0.51% as on 31.03.2024.

Speaking on the Q4 FY 25 performance, Pralay Mondal, Managing Director & CEO said: " We could end the fiscal FY 25 on a high note with a good topline growth, wherein deposits and net advances grew by 24% and 29% respectively. Under both the parameters we could outpace the industry growth by more than ~2x times. CASA witnessed a growth of 10% as well. All the asset verticals contributed to the advance growth thus keeping the growth momentum in tact consistently. Our gold, retail excluding gold, SME and WSB book registered a growth of 35%, 24%, 33% & 22% respectively.

The costs and yields in the ecosystem were impacted by the tighter liquidity conditions for most part of the year, higher interest costs, regulatory guidance on penal interest etc. Despite all this, we could post decent bottom line numbers and stable ratios for the quarter and on an FY basis. Our operating profit for the year grew by 17% and could record a net profit of Rs 594 crore Our other income momentum remains robust with an increase of 66% on an FY basis. Our Asset Quality remains stable with a GNPA and NNPA ratio of 1.57% and 0.52% respectively. The cost to income ratio is decelerating on quarterly basis. All other profitability, efficiency, liquidity and capital adequacy ratios continue to be stable and above the regulatory prescriptions wherever applicable.

One of the most pivotal moments in our bank’s journey this year is the migration to a new Core Banking System and we are in the final stages of this transition. Post implementation of the same, we will be embarking on the Scale Phase, accelerating our journey towards becoming a respectable midsized bank. We remain committed to ensuring a seamless transition which will help us in building a profitable customer franchise with improved topline and bottom line contribution, aiding our SBS vision."

Result PDF

CSB Bank announced Q3FY25 results

  • Total Deposits grew by 22% YoY from Rs 27,345 crore as on 31.12.2023 to Rs 33,407 crore as on 31.12.2024. The CASA ratio stood at 24% as on 31.12.2024.
  • Advance (Net) grew by 26% YoY from Rs 22,658 crore as on 31.12.2023 to Rs 28,639 crore as on 31.12.2024 supported by a robust growth of 36% in gold loans on YoY basis.
  • Profit after Tax up by 10% QoQ from Rs 138 crore for Q2FY25 to Rs 152 crore for Q3FY25 and up by 1% YoY from Rs 150 crore for Q3FY24. We continue to maintain the accelerated provisioning policy during this quarter as well. Return on Assets is 1.52% for Q3FY25 and 1.43% for 9MFY25.
  • Operating Profit up by 10% QoQ from Rs 200 crore for Q2FY25 to Rs 221 crore for Q3FY25 and up by 13% YoY from Rs 196 crore for Q3FY24.
  • Net Interest Income (NII) up by 2% QoQ to Rs 375 Crore for Q3FY25 against Rs 367 Crore in Q2FY25 and down by 2% YoY from Rs 383 crore for Q3FY24.
  • Non-Interest Income up 10% QoQ from Rs 199 Crore for Q2FY25 to Rs 219 Crore for Q3FY25 and 75% YoY from Rs 125 crore for Q3FY24.
  • Cost Income Ratio is at 63% for Q3FY25 reduced from 65% for Q2FY25 as against 61% for Q3FY24. The Bank continues to make significant investments in people, distribution, systems & processes in the build phase aimed at creating a strong foundation for the scale that we aspire to achieve for as part of SBS 2030 vision.
  • Robust Capital Structure - Capital Adequacy Ratio is at 21.08%, which is well above the regulatory requirement. CRAR as on 31.12.2023 was 22.99%.
  • Asset Quality & Provisioning – Gross non-performing assets were at 1.58% as on 31.12.2024 as against 1.68% as on 30.09.2024 and 1.22% as on 31.12.2023.
  • Net non-performing assets were at 0.64% as on 31.12.2024 as against 0.69% as on 30.09.2024 and 0.31% as on 31.12.2023.

Pralay Mondal, Managing Director & CEO said: “The quarter gone by witnessed an impressive business growth, out pacing the industry trends, both under deposits and advances. Deposits registered a YoY growth of 22%, advances grew by 26% whereas industry grew by about 10% and 12% respectively. On the liability front, apart from deposits, we also evaluated and explored other diverse funding options available to fuel the asset growth. On the advance front, while gold loans continue to be a steady business for us with 36% YoY growth, other business segments are catching up –SME has grown by 29% and retail other than gold by 32%. Our WSB book got impacted by the liquidation of DA portfolio and few exits including large value accounts as part of our risk management and could register a growth of 5% on a YoY basis. However, our core corporate book on a standalone basis grew by over 30 %.

On the bottom line, the operating profit of the bank is up by 13% compared to Q3FY24 and by 10% sequentially. The quarterly net profit of the bank also registered a growth both on a YoY and QoQ basis. Though the NII growth is flat on account of the increased cost of funds and penal interest impact, in other income, bank could register a substantial growth of 75% on a YoY basis and 10% on a QoQ basis.

The bank is comfortably placed in terms of liquidity ratios and capital position. Asset quality has improved over last quarter. Both GNPA and NNPA ratios have improved and are at 1.58 % (Q2FY25-1.68%) and 0.64 % (Q2FY25-0.69%). Despite the sizeable investments in the current build phase, with enhanced focus on cost management, CIR has come down on a sequential basis. Other key ratios like RoA, NIM, RoE, CD ratio etc are stable. Overall, the bank has done well both in top-line and bottom-line parameters.

All eyes are on the implementation of the first phase of CBS migration in the bank, which is expected to go live during 1st quarter FY26. The tech enablement is going to help us in delivering consistently and in accelerating it further towards our journey to become a mid-sized bank.”

Result PDF

CSB Bank announced Q2FY25 results

  • Total Deposits grew by 25% YoY from Rs 25,438 crore as on Q2FY24 to Rs 31,840 crore as on Q2FY25. The CASA ratio stood at 24 % as on Q2FY25.
  • Advance (Net) grew by 20% YoY from Rs 22,256 crore as on Q2FY24 to Rs 26,602 Crs as on Q2FY25 supported by a robust growth of 28% in gold loans on YoY basis.
  • Profit after Tax up by 22% QoQ from Rs 113 crore for Q1FY25 to Rs 138 crore for Q2FY25 and up by 4% YoY from Rs 133 crore for Q2FY24. We continue to maintain the accelerated provisioning policy during this quarter as well. Return on Assets and NIM were at 1.50% and 4.30% respectively during Q2FY25.
  • Operating Profit up by 16% QoQ from Rs 172 crore for Q1FY25 to Rs 200 crore for Q2FY25 and up by 15% YoY from Rs 175 crore for Q2FY24.
  • Net Interest Income (NII) for Q2FY25 was Rs 367 crore as against Rs 362 crore in Q1FY25 and up 7% YoY from Rs 344 crore for Q2FY24.
  • Non-Interest Income up 16% QoQ from Rs 172 crore for Q1FY25 to Rs 199 crore for Q2FY25 and up 40% YoY from Rs 142 crore for Q2FY24.
  • Cost Income Ratio is at 65% for Q2FY25 reduced from 68% for Q1FY25 as against 64% for Q2FY24. The Bank continues to make significant investments in people, distribution, systems & processes in the build phase aimed at creating a strong foundation for the scale that we aspire to achieve for as part of SBS 2030 vision.
  • Robust Capital Structure - Capital Adequacy Ratio is at 22.74%, which is well above the regulatory requirement. CRAR as on Q2FY24 was 23.96%.
  • Asset Quality & Provisioning:
    • Gross non-performing assets were at 1.68% as on Q2FY25 as against 1.69% as on Q1FY25 and 1.27% as on Q2FY24.
    • Net non-performing assets were at 0.69% as on Q2FY25 as against 0.68% as on Q1FY25 and 0.33% as on Q2FY24.

Pralay Mondal, Managing Director & CEO said: “Both deposits and advance of the bank registered an impressive growth, higher than the growth of the industry and on the expected lines. While deposits grew at a higher rate of 25% YoY, advance growth was at 20% leading to comfortable regulatory ratios viz. CD Ratio, LCR, NSFR etc. Profitability, Asset Quality and Efficiency ratios continue to be robust. While the operating profit grew by 16% on a QoQ basis, the net profit growth was higher at 22%. CRAR is well above the regulatory threshold at 22.74% and the proportion of risk-weighted assets to total assets continues to be low. The prevailing higher interest rates and customer preferences for other investments is resulting in higher cost of deposits thus impacting NIMs across banks. We expect the cost of funds to stabilise over the next few quarters, with a positive impact on the NIM.

The ongoing tech transformation journey is progressing well, and the critical milestones are tracked closely towards right and timely execution. Once the tech stack is ready, it will be a key enabler fast tracking the SBS journey thus taking the bank to the next level.”

Result PDF

CSB Bank announced Q1FY25 results:

  • Profit after Tax is at Rs 113.32 crore in Q1FY25 as against Rs 132.22 crore in Q1FY24. We continue to maintain the accelerated provisioning policy during this quarter as well. Return on Assets and NIM were at 1.27% and 4.36% respectively during Q1FY25.
  • Operating Profit of the bank is at Rs 172.49 crore as against Rs 181.43 crore in Q1FY24.
  • Net Interest Income (NII) earned for the Q1FY25 was Rs 361.97 crore as against Rs 364.01 crore in Q1FY24.
  • Non-Interest Income for Q1FY25 is at Rs 171.83 crore as against Rs 119.90 crore for the same period last year up by 43%. While Treasury income grew by 29%, other incomes excluding treasury income increased by Rs 47.60 crore or by 45% on a YoY basis.
  • Cost Income Ratio is at 67.69% as at the end of Q1FY25; where as it was 62.51% at the end of Q1FY24. The increase is mainly on account of significant investments made on people, distribution, systems & processes in the build phase aimed at creating a strong foundation for the scale that we aspire to achieve for as part of SBS 2030
  • Asset Quality & Provisioning GNPA and NNPA ratios increased by 42 bps and 36 bps respectively compared to Q1 FY24. 
  • Robust Capital Structure - Capital Adequacy Ratio is at 23.61%, which is well above the regulatory requirement. CRAR as on 30.06.23 was 25.99%
  • Total Deposits grew by 22% YoY from Rs 24,475.52 crore as on 30.06.23 to 29,919.85 crore as on 30.06.24. The CASA ratio stood at 24.90 % as on 30.06.2024
  • Advances (Net) grew by 18% YoY to Rs 24,844.01 crore as on 30.06.2024 supported by a robust growth of 24% in gold loans on YOY basis. Gold loan portfolio crossed the Rs 12,000 crore mark

Speaking about the performance Pralay Mondal, Managing Director & CEO said, “In the quarter gone by, we were able to deliver a growth of 22% and 18% in our deposits and net advances respectively on a YoY basis. Our total income recorded a growth of 25% with substantial contribution from the other income growth of 43% over Q1FY24. All the regulatory ratios like CRAR, LCR etc are stable and robust. Despite increased cost of funds and additional expenditure towards the build phase, we could register an operating and net profit of Rs 172 crore and Rs 113 crore respectively.

We are committed towards achieving what we have envisioned in our SBS 2030 journey and have made significant strides here. On the distribution front we have already opened 15 branches in Q1 and will continue with our expansion plans. On the technology front, project implementations are being tracked closely towards successful & timely execution. Our SBS vision is driving our strategic goals, thus ensuring sustained growth and value creation for all stakeholders”

Result PDF

CSB Bank announced Q4FY24 & FY24 results:

Financial Highlights:

  • Profit After-tax: Bank recorded a Net profit of Rs 567 crore for FY24 as against a Net profit of Rs 547 crore in FY23. Net profit improved by 4% on a YoY basis. RoA of the Bank is at 1.79% for FY24.
  • Strong Operating Performance: Operating profit of bank for FY24 was Rs 780 crore registering YoY growth of 10% as against Rs 707 crore during FY23. Q4FY24 operating profit grew YoY by 13% and stood at Rs 228 crore as against Rs 202 crore in Q4FY23.
  • Net Interest Income (NII): Bank recorded a stable NII growth of 11% both on a YoY and quarterly basis. NII for FY24 & Q4FY24 stood at Rs 1,476 crore (Rs 1,334 crore for FY23) and Rs 386 crore (Rs 349 crore for Q4FY23) respectively.
  • Non-Interest Income for FY24 saw an impressive growth of 85% over FY23 mainly due to increased Fee Income, Forex income, Treasury Profits etc. On a quarterly basis ie, Q4FY24 vs Q4FY23, non- interest income has registered a growth of 56%
  • Cost Income Ratio for Q4FY24 stood at 60.86% as against 57.45% for Q4FY23 and the corresponding ratio for FY 2024 was at 62.15% as against 57.12% for FY23. 
  • Gross NPA and Net NPA ratios are at 1.47% and 0.51% respectively as at Q4FY24
  • Robust Capital Structure - Capital Adequacy Ratio is at a healthy level of 24.47%, and is well above the regulatory requirement.
  • Comfortable Liquidity Position - Liquidity Coverage Ratio is comfortable at 117% (average basis)
  • Total Deposits grew by 21 % YoY. CASA book is at Rs 8,085 crore with a share of 27.20%
  • Advances (Net) grew by 18% YoY to Rs 24,336 crore as on 31.03.2024 with a CD ratio of 82%

Speaking about the performance, Pralay Mondal, Managing Director & CEO said, “This is the second year of our SBS 2030 vision. In a journey like this what is more important is relentlessly pursuing the vision set in enjoying the ups and surfing through the challenges as a team. Despite the challenges posed by the economic conditions, regulatory changes, liquidity constraints, increased competition etc., we got our priorities right and could post reasonably good numbers.

We could register a net profit of Rs 567 crore; backed by a 20% growth in Business; 18% net loan book growth and 21% deposit growth. We continued to grow faster than the average industry growth trends in both deposits and advances. Our operating profit recorded a growth of 11% supported by growth in NII and other income. Key indicators like NIM, CRAR, RoA, NPA ratios etc. continue to be strong. We continued our efforts in building the distribution by opening another 76 branches.

The most critical milestone that we look forward to in FY 25 is the roll out of phase I of CBS migration and the right execution will act as a catalyst in our progressive journey. We will be strengthening the SME & Corporate segments and strive for a better market share without losing our focus on retail including gold. Business mix will tilt towards the anticipated SME & WSB segment and for the betterment of the Bank."

Result PDF

CSB Bank announced Q3FY24 & 9MFY24 results:

  • Profit After-tax: CSB Bank reported a net profit of Rs 415 crore for 9MFY24, compared to Rs 391 crore for the same period last year, marking a year-over-year (YoY) increase of 6%. The net profit for the quarter alone was Rs 150 crore.
  • Operating Profit: Operating profit for 9MFY24 reached Rs 552 crore, a growth of 9% from the previous year's Rs 506 crore. For Q3FY24, the Bank posted an operating profit of Rs 196 crore, up 12% from the previous sequential quarter.
  • Net Interest Income (NII): NII for 9MFY24 was Rs 1,090 crore, showing an 11% increase YoY. For Q3FY24, NII stood at Rs 383 crore, with an 11% increase over the second quarter and 9% over the same quarter the previous year.
  • Non-Interest Income: For Q3FY24, non-interest income increased by 39% compared to Q3FY23. The nine-month period saw non-interest income reach Rs 388 crore, a substantial 104% increase from the Rs 190 crore of the previous year.
  • Cost-to-Income Ratio: The cost-to-income ratio for Q3FY24 was 61.44%, compared to 64.09% for Q2FY24. The ratio for the nine months was 62.66%, higher than the 56.98% from the previous year. This increase is attributed to investments in personnel, technology, and distribution.
  • Asset Quality & Provisioning: The Gross Non-Performing Assets (GNPA) and Net NPA marginally declined both sequentially and year-over-year, with the Provisioning Coverage Ratio (PCR) exceeding 90%.
  • Capital Structure: The Capital Adequacy Ratio stood at 22.99%, well above the regulatory requirement.
  • Liquidity Position: The Liquidity Coverage Ratio as of December 31, 2023, was comfortably at 123%.
  • Deposits and Advances: Deposits grew by 21% YoY, with the current and savings account (CASA) growing from Rs 7,126 crore to Rs 7,543 crore—a 6% increase. Advances (Net) grew by 23% YoY from Rs 18,457 crore to Rs 22,658 crore.
  • CASA Ratio: Stood at 27.58% as of December 31, 2023.
  • Gross NPA: Rs 278.73 crore in Q3FY24, slightly lower than previous quarters.
  • Net NPA: Rs 70.23 crore in Q3FY24, reflecting a small reduction from prior quarters.

Speaking about the performance Pralay Mondal, Managing Director & CEO said, “The last quarter gone by was reasonably stable for us. Our efforts have always been to grow 30 to 50% faster than the system. The liquidity conditions that prevailed in the system did pose some challenges in funds management. We focused more on deposits this quarter and could register a growth of 21% on a YoY basis whereas the industry grew by 13%. On the advance front (net) we registered a growth of 23% vis a vis 16% industry (without merger). Gold, Retail ex-gold and SME did well in the quarter with a YoY growth of 23%, 44%, and 28% respectively. Effective fund management duly factoring in the cost considerations helped us to maintain an NIM of above 5% for Q3 and 9MFY24. All other key ratios like CRAR, RoA, NPA ratios, etc continue to be strong.

SBS journey got the much-needed booster when we kick-started the CBS migration project in the bank. A detailed blueprint has been prepared for the implementation and we are progressing there. Once the products/processes stabilize after the new CBS rollout, our customer acquisition pace will go up significantly and will lay a stronger foundation for the scale phase. Our vision is to transform from a small bank to a midsized bank by FY 2030 and the entire team is working passionately to make this a reality."

 

 

Result PDF

CSB Bank announced Q2FY24 & H1FY24 results:

1. Financial Performance:
- CSB Bank recorded a net profit of Rs 265.39 crore during the half year ended September 30, 2023, showing a growth of 13% YoY.
- Net Interest Income for H1FY24 stood at Rs 707.71 crore, posting an increase of 11% YoY.
- Non-interest income grew by 171% in H1FY24 compared to the same period last year.
- Cost Income Ratio is at 64.52% as of the end of Q2FY24, impacted by investments in people, distribution, systems, and processes.

2. Asset Quality and Provisioning:
- The Gross NPA stood at 1.27% and the Net NPA at 0.33% as at the end of Q2FY24, maintaining stable levels from the previous quarter.
- The Provisioning Coverage Ratio stood at 91.75%, ensuring a healthy asset quality.

3. Capital Adequacy and Liquidity:
- Capital Adequacy Ratio is at 23.96%, well above the regulatory requirement.
- Total Deposits grew by 21% YoY, with CASA book growing by 4% to Rs 7,448 crore.
- The liquidity Coverage Ratio stood at 109% and the Net Stable Funding Ratio at 143%, indicating a healthy liquidity position.

4. Business Growth:
- Total Business crossed Rs 47,900 crore, posting a growth of 24% YoY, supported by a 27% YoY growth in net advances.
- Gold Loans recorded a robust growth of 32% YoY.
- CASA ratio stood at 29.28% as of September 30, 2023.

Speaking about the performance Pralay Mondal, Managing Director & CEO said, “Consistent performance and improvement quarter over quarter gives comfort in pursuing the larger vision of SBS 2030 with lot more confidence. We could register a net profit of Rs 265 crore for the half year ended 30.09.23; up by 13% YoY. NII registered a robust growth of 11% and non-interest income by 171%. On the top line, our total business grew by 24% supported by the deposit growth of 21% and net advance growth of 27%. The gold loan portfolio registered a YoY growth of 32%. The key ratios like NIM, CRAR, RoA, etc continue to be strong. Our asset quality ratios are stable and better compared to Q2FY23.

We are now taking rapid strides in strengthening the building blocks that will help us in leveraging our full-service banking license and build a 360-degree PAN India franchise across Wholesale, SME, Retail, and Gold Loan Businesses. Our primary focus is to build a solid liability franchise by acquiring quality customers and onboarding them with all banking products and services. We are significantly investing in leadership, people, distribution, and products while transforming the technology stack to provide our valued customer's good service and a 360-degree banking facility."

 

 

Result PDF

CSB Bank announced Q1FY23 results:

  • Profit after Tax is at Rs 132.23 crore in Q1FY24 as against Rs 114.52 crore in Q1FY23. Net profit increased by 15% YoY basis. We continue to maintain the accelerated provisioning policy during this quarter as well. Return on Assets improved from 1.75% in Q1FY23 to 1.79% in Q1FY24. NIM could be sustained above 5% at 5.40% up by 23 bps YoY.
  • Operating Profit of the bank is at Rs 181.43 crore whereas it was Rs 154.72 crore in Q1FY23 ie, up by 17%.
  • Net Interest Income (NII) earned for Q1FY24 is Rs 364.01 crore with a YoY increase of 17% (Rs 310.69 crore for Q1FY23)
  • Non-Interest Income for Q1FY24 is at Rs 121.55 crore as against Rs 54.85 crore for Q1FY23 up by 122%. While Treasury income grew by 23%, other income excluding treasury income increased by Rs 64.40 crores or by 143% on a YoY basis.
  • Cost Income Ratio is at 62.63% as at the end of Q1FY24; where as it was 57.67% as on 30.06.2022. The increase is mainly on account of significant investments made on people, distribution, systems & processes in the build phase aimed at croreeating a strong foundation for the scale that we aspire to achieve for as part of SBS 2030
  • Healthy Asset Quality & Provisioning Compared to 30.06.22, we have lower GNPA and NNPA ratios of 1.27% and 0.32% as at the end of Q1FY24; with an improvement of 52 bps and 28 bps respectively.
  • Robust Capital Structure - Capital Adequacy Ratio is at 25.99%, which is well above the regulatory requirement; with an improvement of 53 bps as on 30.06.23
  • Total Deposits grew by 21% YoY. Correspondingly, CASA book grew by 6% from Rs 7,121.88 crores to Rs 7,548.08 crores YoY. The CASA ratio stood at 30.84% as on 30.06.2023
  • Advances (Net) grew by 31% YoY to Rs 21,103.55 crore as on 30.06.2023 supported by a robust growth of 42% in gold loans on YoY basis. Gold loan portfolio croreossed the Rs 10,000 crore mark.

Speaking about the performance Pralay Mondal, Managing Director & CEO said, “On a YoY basis, we could register a net profit of Rs 132 crore; up by 15% YoY backed by a 31% net loan book growth and 21% deposit growth. Our NII registered a robust growth of 17% and Non-interest income by a whopping 122%. Despite the increased costs on account of higher investments made on people, distribution, systems etc, the operating profit recorded a growth of 17% supported by growth in NII and other income. Key indicators like NIM, croreAR, RoA, NPA ratios etc. continue to be strong.

Currently we are in the build phase; which is the most croreucial level of SBS 2030 journey. As we are building for scale, we strive to deliver an all-round performance by keeping our business priorities intact. The basic infrastructure like the verticals, leadership, products, policies etc are in place and now the major focus is on the tech front. On the distribution front, as in the previous years, we plan to open another 100 branches this FY as well. Our efforts will be centered on building a future ready franchise by keeping customer centricity at the core of all our initiatives. We will constantly work on meeting the stakeholder expectations by achieving the milestones set under SBS vision."

 

 

Result PDF

CSB Bank announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Q4FY23 operating profit grew YoY by 42% and stood at Rs 202 crore, as against Rs 142 crore in Q4FY22
    • In Q4FY23, the NII grew by 15% and stood at Rs 349 crore as against Rs 304 crore in Q4FY22
    • Non-interest income ex treasury for Q4FY23 saw a growth of 42% over Q3FY23 mainly due to PSLC and other fee income
    • Cost income ratio for Q4FY23 stood at 57.48% as against 61.34% for Q4FY22
    • Gross NPA and Net NPA ratios have improved to 1.26% and 0.35% respectively as on March 31, 2023, over the previous quarters. PCR continues to be above 90%.
  • FY23:
    • Bank recorded a net profit of Rs 547 crore for FY23 vis a vis profit of Rs 458 crore in FY22. Net profit improved by 19% on a YoY basis.
    • RoA of the bank stood above 2% for FY23 at 2.06%, as against 1.90% for FY22
    • Operating profit of the bank for FY23 was Rs 707 crore registering YoY growth of 15% as against Rs 614 crore during FY22
    • Net interest income (NII) for FY23 stood at Rs 1,334 crore posting an increase of 16% YoY
    • Cost income ratio for FY23 was at 57.12% as against 56.17% for FY22
    • Capital Adequacy Ratio is at 27.10%, which is well above the regulatory requirement. The leverage ratio is at 9.98% as on 31.03.2023
    • Liquidity coverage ratio is comfortable at 123%
    • Total deposits grew by 21 % YoY. Correspondingly, CASA book grew by 16% from Rs 6,795 crore to Rs 7,886 crore YoY. The CASA ratio stood at 32.18% as on March 31, 2023,as against 31.44% as on December 31, 2022
    • Advances (net) grew by 31% YoY to Rs 20,651 crore as on March 31, 2023, supported mainly by a gold loan portfolio growth of 48% YoY

Speaking about the performance Pralay Mondal, Managing Director & CEO said, “It gives me immense pleasure to see that the first year of SBS 2030 vision has fared well in the expected lines and this good start gives us comfort to pursue this journey with more confidence. We continued to deliver the stakeholder expectations both in terms of topline and bottom line. We could register a record net profit of Rs 547 crore; up by 19% YoY backed by a 25% business growth; 31% net loan book growth and 21% deposit growth. We were able to grow faster than the average industry growth trends in both deposits and advances. Despite lower treasury and PSLC income contributions, the operating profit recorded a growth of 15% supported by growth in NII and other income. Key indicators like NIM, CRAR, RoA, NPA ratios etc. continue to be strong. In line with our geographic expansion plans, we hit a hat trick by opening another 100 branches in the third consecutive year thus taking the total branch count to 703 from 411 as of 31.03.20 with a 70% increase in the last 3 years. The good part of the first-year SBS journey is that we could sustain our core strengths and start the build phase. All the retail verticals planned for the FY are in place and have started contributing. FY 24 will be the most crucial year in the build phase where we plan for major infra investments- technology being the key one. We will also continue with the geographic expansion plans. As we progress here, the business verticals will benefit from the improved support structure which will particularly help in the full-fledged offtake of the retail verticals. With the key enablers viz verticals, systems & processes, products and policies, HR structure etc. all falling in place, we will be aggressively pursuing the key agenda of SBS 2030 which underlines the build-up of a quality customer franchise. We will put in all our efforts to progress as per our vision quarter on quarter and year on year."

 

 

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