In absolute terms, CSB Bank’s gross NPA stood at ₹715.42 crore from ₹669.78 crore in the previous quarter, while Net NPAs stood at ₹157.68 crore from ₹158.23 crore last year.
Provisions at the end of the June quarter stood at ₹49 crore, more than double the ₹23 crore figure reported in June, but lower than the ₹60.7 crore figure it had reported back in the June quarter last year.For the June quarter, CSB Bank’s Net Interest Income, or core income, increased by 26% from last year to ₹478.4 crore from ₹379.5 crore.
Net profit for the period also increased by 26.5% to ₹150 crore from ₹118.6 crore last year. CSB Bank’s operating profit grew by 14% from the same quarter last year to ₹251 crore from ₹220 crore.In its quarterly business update disclosed earlier, CSB Bank’s advances increased by 24% from last year to ₹40,309 crore, while its deposits grew by 26% on a year-on-year basis to ₹45,415 crore.
Gold Loans increased by 47% from last year to ₹21,906 crore. Gold Loans now form 54% of the overall loan book, compared to 47% during the same quarter last year.
Net Interest Margins at the end of the quarter stood at 3.66%, an expansion of 12 basis points from 3.54% during the same period last year.
Additions to gross NPAs during the quarter stood at ₹98 crore, compared to ₹61 crore last quarter. The figure was lower than the ₹139 crore figure reported during the same quarter last year.
Shares of CSB Bank are trading 6.7% lower after the results announcement on Wednesday at ₹345.2. The stock is nearing its 52-week low level of ₹317.35 and is down 40% from its 52-week high of ₹574.
This is breaking news and will be updated with more details.
