CSB Bank rises after total deposits jump 9% YoY in Q1 FY23

CSB Bank gained 1.15% to Rs 193.50 after the private lender said that its total deposits increased 8.65% to Rs 20,266.77 crore as on 30 June 2022 as against Rs 18,652.80 crore as on 30 June 2021.

CASA deposits jumped 15.32% to Rs 7,117.14 crore while term deposits rose 5.36% to Rs 13,149.64 crore as on 30 June 2022 over 30 June 2021.

Gross advances surged 16.16% to Rs 16,332.81 crore as on 30 June 2022 from Rs 14,060.10 recorded in the same period last year.

Advances against gold & gold jewellery, aggregated to Rs 7,099.33 crore as on 30 June 2022 as against Rs 5,617.68 crore posted on 30 June 2021, registering a growth of 26.37%

CSB Bank is an old private sector bank with a history of over 101 years and operating out of 603 branches. The business is concentrated in Kerala (approximately 50% branches) with remaining spread mainly across Tamil Nadu, Karnataka, and Maharashtra.

CSB Bank reported a net profit of Rs 130.67 crore in Q4 FY22 as against a net profit of Rs 42.89 crore in Q4 FY21. Total income rose by 4% YoY to Rs 583.17 crore in Q4 FY22.

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