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Business EconomyPosted at: Jan 28 2025 6:06PM


CSB Net flat at Rs 152 cr in Q3; Net Interest Income dips 2 pc

New Delhi, Jan 28 (UNI) Private lender CSB Bank on Tuesday reported near-flat net profit at Rs 152 crore year-on-year basis during the third quarter (October-December) of the current financial year 2024-25, versus Rs 150 crore in the same quarter of fiscal 2023-24.
The net profit was, however, 10 percent compared to the previous quarter (second quarter) of the current fiscal year. In the second quarter, CSB Bank had reported a net profit of Rs 138 crore, the bank said in a regulatory filing with the stock exchanges.
Net Interest Income (NII) registered a marginal fall of 2 percent year-on-year on a year-on-year basis at Rs 375 crore during the reporting quarter as compared to Rs 383 crore in the corresponding quarter of the last financial year, the bank said, adding the non-Interest Income stood at Rs 219 crore, up 75 percent from Rs 125 crore in the corresponding quarter of the previous fiscal.
Speaking on the Q3 FY 25 performance, Mr. Pralay Mondal, Managing Director & CEO, said, “The quarter gone by witnesed an impressive business growth, outpacing the industry trends, both under deposits and advances. Deposits registered a YoY growth of 22 percent, and advances grew by 26 percent, whereas the industry grew by about 10 percent and 12 percent, 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 percent YoY growth, other business segments are catching up—SME has grown by 29 percent and retail other than gold by 32 percent. Our WSB book got impacted by the liquidation of the DA portfolio and a few exits, including large-value accounts, as part of our risk management, and we could register a growth of 5 percent on a YoY basis. However, our core corporate book on a standalone basis grew by over 30 percent.”
On the bottom line, the operating profit of the bank is up by 13 percent compared to Q3 FY 24 and by 10 percent 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, the bank could register a substantial growth of 75 percent on a YoY basis and 10 percent on a QoQ basis, he said.
The bank is comfortably placed in terms of liquidity ratios and capital position. Asset quality has improved over the last quarter. Both GNPA and NNPA ratios have improved and are at 1.58 percent (Q2 FY 25-1.68 percent) and 0.64 percent (Q2 FY 25-0.69 percent). 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 wll in both in top-line and bottom-line parameters, the bank stated.
All eyes are on the implementation of the first phase of CBS migration in the bank, which is expected to go live during the 1st quarter of 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, Mondal added.
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Tags: #CSB Net flat at Rs 152 cr in Q3; Net Interest Income dips 2 pc
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