CSB Bank Q2 net profit jumps 72.1% yoy at Rs118.57cr; stock trades flat

Gross NPA and Net NPA ratios excluding gold works out to 2.09% and 1.14% as on 30.09.2021

October 26, 2021 10:20 IST | India Infoline News Service
CSB Bank
The Board of Directors of CSB Bank took on record the financial results for the quarter (Q2 FY 2022) and half year ended 30.09.2021 (H1 FY 2022) which were subject to limited review in their meeting dated 25.10.2021.

The bank recorded a net profit of Rs118.57cr in Q2 FY22 as against Rs68.90cr in Q2FY21 and Rs61cr for the sequential quarter. Net profit increased by 72% yoy and 94% on qoq basis. On a half yearly basis, the net profit improved to Rs179.57cr as on 30.09.21 from Rs122.46cr as on 30.09.20 or by 47%. 

The stock is currently trading at Rs307.70 up by Rs0.85 or 0.28% from its previous closing of Rs306.85 on the BSE. The scrip opened at Rs304 and has touched a high and low of Rs313.75 and Rs302.70 respectively.

The Bank continued its accelerated provisioning policy during this quarter as well. The RoA as on 30.09.2021 on a half-yearly basis is 1.53%

The operating Profit of the bank is Rs324.12cr for the half-year ended 30.09.2021 with an increase of 36% over H1FY21. Q2FY22 operating profit is at Rs149.38cr as against Rs119.02cr for Q2 FY21. The operating profit for Q2FY22 but for the regulatory changes is Rs181.2cr as against Rs179.8cr for Q1FY22.

Net Interest Income for (NII) for H1FY22 stood at Rs546.14cr posting an increase of 32% over H1FY21. In Q2FY22, the NII stood at Rs278.38cr as against Rs229.25cr in Q2FY21 or by 21%.

Non-Interest Income posted a growth of 21.39% half yearly and 36.44% on a quarterly basis you. 

Cost Income Ratio: Though the staff count has gone up over 1250 from last September, the cost income ratio as on 30.09.2021 on a half yearly basis could be maintained at 52.14% as against 54.45% as on 30.09.2020. Cost income ratio for Q2 FY 22 is at 55.83%, which was at 56.41% for Q2 FY 21 & 48.45% in Q1FY22.

With the opening up of the economy, positive trends are visible in the asset quality front. Out of the gross NPA of Rs 586.83 Crs, Rs 287.52 Crs is gold NPA where the recoverability is almost assured. Its gross NPA excluding gold as on 30.09.21 is lower than the position as on 30.06.21 and 31.03.21. Gross NPA and Net NPA ratios have improved to 4.11% and 2.63% as on 30.09.21 from 4.88% and 3.21% respectively as on 30.06.21.

Gross NPA and Net NPA ratios excluding gold works out to 2.09% and 1.14% as on 30.09.2021

Capital Adequacy Ratio is at 20.12%, which is well above the regulatory requirement. Leverage ratio is at 8.03% as on 30.09.2021.

Comfortable Liquidity Position. Liquidity Coverage Ratio is comfortable at 169.93%.

Total Deposits grew by 9.12% YoY and CASA ratio stood at 32.60 % as on 30.09.2021 as against 29.39% as on 30.09.2020 and 32.19% as on 31.03.2021

Advances (Net) grew by 12.22% to Rs 14070.11 Cr as on 30.09.2021.

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