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CSB Bank Shares Zoom Over 6% After Releasing Business Update For Q3 FY25

Updated on: Jan 2, 2025, 2:17 PM IST
During Q3 FY25, CSB Bank recorded a growth of 22.17% YoY in total deposits to ₹33,406 crore against ₹27,345 crore in Q3 FY24.
CSB Bank Shares Zoom Over 6% After Releasing Business Update For Q3 FY25
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On January 1, 2025, CSB Bank Ltd reported its business update for the quarter ended December 31, 2024, wherein, it recorded a significant growth in total deposits of 22.17% year-on-year (YoY), reaching ₹33,406 crore compared to ₹27,345 crore during the same period in the previous year.

The exchange filing further stated that the the growth was backed by a notable 28.10% YoY rise in term deposits, which amounted to ₹25,365 crore, up from ₹19,802 crore in the previous year. Additionally, CASA (Current Account and Savings Account) deposits also grew by 6.60% YoY, reaching ₹8,041 crore from ₹7,543 crore in the corresponding period last year.

Surge in Gross Advances

CSB Bank saw robust growth in its gross advances, which increased by 26.45% YoY. Advances rose to ₹28,914 crore, up from ₹22,867 crore as of December 31, 2023. A key highlight was the 36.28% YoY surge in advances against gold and gold jewellery, excluding receivables secured against gold, which climbed to ₹13,018 crore from ₹9,553 crore.

CSB Bank Q2 FY25 Results

In Q2 FY25, CSB Bank reported a slight 4% increase in net profit, reaching ₹138 crore for the quarter ending September 2024, compared to ₹133 crore in the same period last year. The bank’s total income rose to ₹1,064 crore during the quarter, up from ₹830 crore in the year-ago period, according to a regulatory filing.

Net interest income also saw a 7% growth, reaching ₹367 crore in the July-September quarter, up from ₹344 crore in the corresponding period of 2023. However, the bank’s asset quality saw a decline, with gross non-performing assets (NPAs) rising to 1.68% of gross advances at the end of the September 2024 quarter, compared to 1.27% a year earlier.

On January 2, 2025, CSB Bank shares rose over 6% in morning trade and reached the day high of ₹334.15 after opening at ₹331.60.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 2, 2025, 9:29 AM IST

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