CSB Bank Q3 profit falls 4% to ₹150 crore
As regards, asset quality, the gross Non-Performing Assets (NPAs) of the bank declined to 1.22% of the gross loans by the end of December 2023, from 1.45% a year ago.
Private lender CSB Bank on Monday (January 29) posted a 4% decline in its profit at ₹150 crore in the third quarter ended December 2023. The Kerala-based private sector bank had earned a net profit of ₹156 crore in the same quarter a year ago.
The total income increased to ₹887 crore during the quarter under review, as against ₹682 crore in the same period last year, CSB Bank said in a regulatory filing. The interest income of the bank rose to ₹762 crore, as against ₹592 crore in the third quarter of the previous year.
As regards, asset quality, the gross Non-Performing Assets (NPAs) of the bank declined to 1.22% of the gross loans by the end of December 2023, from 1.45% a year ago. Similarly, net NPAs or bad loans came down to 0.31%, from 0.42% at the end of the third quarter of the previous fiscal, the bank added.
In discussions about margins, it was mentioned by Pralay Mondal, MD & CEO of CSB Bank, during an interview with CNBC-TV18, that “As I said in last quarter, as well, our margins, we will end the year somewhere above 5% and we said that we will get the margins back on track. So this quarter, we ended with around 5.11%, which is somewhat what we had targeted.”
He further indicated, “We have said that we will have that 25 to 30% loan growth, hopefully we will be around 25, but if there is a liquidity challenge that continues, maybe we'll be somewhere around that.”
Shares of CSB Bank are down at ₹373.30. The stock is down 10% in the past month.
First Published: Jan 29, 2024 10:40 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM