The ratings agency has also reaffirmed its rating on the certificate of deposits programme and short-term fixed deposit programme of the bank at CRISIL A1+. The ratings reflect the current healthy capitalisation levels along with commitment of support from Fairfax, in case of exigency. The rating also factors in the stable deposit profile and experienced management team. These strengths are partially offset by the modest, albeit improving, earnings profile, lack of track record in the new non-gold loan book and modest scale of operations. The stable outlook reflects CRISIL Ratings belief that CSB Banks capitalisation will remain adequate to meet its business growth and manage its asset-quality related risk. 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. The scrip shed 0.16% to end at Rs 185 on the BSE. Powered by Capital Market - Live News
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