CSB Bank Released Business Updates For FY24

On April 01, 2024, CSB Bank Limited released its business updates for the financial year that ended March 31st, 2024. The bank recorded a Year-on-Year (YoY) growth of ~21.27% in total deposits to ₹29,719 crore as compared to ₹24,506 crore as of March 31, 2023. Out of these total deposits, the CASA portion stood at ₹8,084 crore, and Term Deposits were ₹21,634 crore, reflecting a YoY growth of 2.51% and 30.17%, respectively.

In addition, advances against Gold & Gold Jewellery, including receivables secured against gold, amounted to 11,817 crore, showcasing a YoY growth of ~21.90%. The below table states a comparison of CSB Bank Ltd’s business performance over different time periods:

For the 9 months ended December 31, 2023, the bank registered a YoY growth of ~6% in net profit to ₹ 415 crore as compared to ₹391 crore in the corresponding period last year. Net Interest Income (NII) for 9 months stood at ₹1,090 crore, posting an increase of 11% YoY. In Q3 FY 24, the NII stood at ₹ 383 crore, with an increase of 11% over Q2 FY2024 and 9 % over Q3 FY2023. Capital Adequacy Ratio for the period stood at 22.99%, which is well above the regulatory requirement.

On April 02, 2024, CSB Bank announced that the Board Meeting had been scheduled for April 26, 2024, whereby it will consider and approve the audited financial results of the Bank for the quarter

and the financial year ended March 31, 2024.

About CSB Bank Ltd

CSB Bank Ltd provides banking Services. It is the oldest private sector bank in India, with a rich history of more than 98 years. The bank has a strong base in Kerala, and it mainly focuses on SME, retail, and NRI customers. On April 02, 2024, the shares of CSB Bank share price opened at ₹380.40 and reached the day high of ₹385.00 at 11:31 AM.

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