CSB Bank Q3 Results: Net profit up 25% QoQ

 


CSB Bank, in its quarterly earnings report on Friday, reported a total income of Rs 579.81 crore for the quarter ended December 31, 2021, as against Rs 555.64 crore a quarter previously. The bank also reported a net profit of Rs 148.25 crore, a quarter-on-quarter increase of 25% from Rs 118.57 crore.


According to the report, the company had gross non-performing assets (NPAs) worth Rs 388.95 crore, a 33.72 QoQ decrease, and net NPAs of Rs 199.74 crore, down a significant 46 percent QoQ.


The company further reported earnings per share of Rs 8.55 lakh (at a face value of Rs 10 per share), which was an increase of 25 percent QoQ, and paid-up equity capital of Rs 173.54 crore, the same as the previous quarter.

Share:

CSB Bank Q1 results: Net profit rises 14%


CSB Bank
on Thursday reported a nearly 14 per cent growth in its net profit to Rs 61 crore in the April-June quarter of this fiscal compared to Rs 53.56 crore in the same quarter of the previous financial year.


Total income during the first quarter of FY2021-22 rose to Rs 571.53 crore from Rs 496.88 crore in the year-ago quarter, the south India-based lender said in a regulatory filing. The bank had reported a total income of Rs 609.45 crore in the January-March quarter of FY21.


Provisions for bad loans and contingencies rose to Rs 98.26 crore in the April-June quarter from Rs 57.53 crore in the year-ago quarter.


Its gross non-performing assets (NPAs) rose to 4.88 per cent of the gross advances as of June 30, 2021, from 3.51 per cent by the end of June 2020. Net NPAs soared to 3.21 per cent from 1.74 per cent.


In absolute value, the gross NPAs of the bank stood at Rs 686.39 crore, higher than Rs 401.03 crore. Net NPAs were worth Rs 443.75 crore, up from 195.24 crore.

Share:

CSB Bank reports 89% y-o-y rise in Q3 net profit


CSB Bank on Tuesday reported an 89% year-on-year (y-o-y) increase in its third quarter net profits to Rs 53.05 crore on higher interest and treasury income.

The Thrissur-based lender had reported a net profit of Rs 28.1 crore in Q3 FY20 and Rs 68.9 crore in the second quarter of the current fiscal year. Non-interest income of the lender is seen higher by 130% year on year at Rs 116 crore for the third quarter of FY21 against Rs 50.6 crore in the year-ago period. Total income during the period rose to Rs 599.24 crore from Rs 439.29 crore.

Total deposits grew 16% YoY and CASA ratio stood at 30.4% as on December 31, 2020, against 28.6% as on December 31, 2019. Advances (net) grew at 22% YoY, mainly contributed by gold loan growth of 61%. Managing director & CEO C VR Rajendran said recent revival of the economic activity was having a positive impact on the banking industry as a whole.

“In the context of the withdrawal of the moratorium benefits by the regulator, we decided to be prudent by holding provisions in excess of the regulatory provisions on the stressed assets. Apart from the core NII growth, improved trading income /provision reversals at treasury backed by the favourable yield movements, net income by way of PSLC sale etc supported us on the income side,” the CBS Bank CEO added.

Asset quality improved with gross non-performing assets (NPAs) as a percentage of gross advances at 1.77 % from 3.04 % in the preceding quarter. While net NPA declined to 0.68 % in the December quarter from 1.30 % in the September quarter and 1.98 % in the year-ago quarter.

However, had the bank classified borrower accounts as NPA after August 31, 2020, its proforma Gross NPA ratio and proforma Net NPA ratio would have been 3.42% and 1.93%, respectively, the bank sources said.

Its Provision Coverage has improved to 91.0% as on December 31, 2020, from 84.2% as on September 30 and 80.0% as on March 31, 2020. CSB said that it was holding additionally provision of Rs 154 crore for the stressed assets.

The board has also approved the roll-out of a voluntary retirement scheme (VRS) for its staff members. Rajendran said 223 staff members were eligible for the VRS and the total outgo would be Rs 80 crore if all of them opt for the VRS.

Share:

Catholic Syrian Bank Recruitment of various Posts 2017


Catholic Syrian Bank has published Advertisement for below mentioned Posts 2017. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.




Posts:

  • Business Development Executive (Gold Loan) - 200 Posts
  • Regional Sales Manager (Gold Loan) - 2 Posts
  • Area Sales Manager (Gold Loan) - 13 Posts
  • Business Development Executive (CASA) - 150 Posts
  • Regional Sales Manager (CASA) - 2 Posts
  • Area Sales Manager (CASA) - 6 Posts 

Share:

  Useful links for Bankers
   * Latest DA Updates
   * How to recover Bad loans/NPA Acs
   * Latest 12th BPS Updates
   * Atal Pension Yojana (APY)
   * Tips while taking charge as Manager
   * Software used by Banks in India
   * Finacle Menus, Shortcuts & Commands
   * Balance Inquiry Number of all Banks
   * PSU & Private Banks Quarterly result
   * Pradhan Mantri Awas Yojana (PMAY)

Contact Form

Name

Email *

Message *