CSB Bank Reports Strong Q3 Growth in Deposits and Loans

2 Jan 2025 , 12:04 AM

CSB Bank, based in Thrissur, reported impressive growth for the quarter ending December 31, 2024. The bank’s total deposits grew by 22.17% compared to last year, reaching ₹33,406 crore, up from ₹27,345 crore.

Term deposits saw a big jump, increasing by 28.10% to ₹25,365 crore from ₹19,802 crore. CASA (Current and Savings) deposits also grew by 6.60%, reaching ₹8,041 crore, up from ₹7,543 crore. The bank’s loan book grew by 26.45%, reaching ₹28,914 crore, compared to ₹22,867 crore in the previous year. Advances against gold loans grew by 36.28%, reaching ₹13,018 crore, up from ₹9,553 crore.

CSB Bank’s profit grew by 4%, reaching ₹138.4 crore for the quarter ending September 30, 2024, up from ₹133.2 crore the previous year. The bank’s core income from lending (net interest income) grew by 7%, rising to ₹368 crore from ₹343 crore last year. CSB Bank’s asset quality improved slightly with a small drop in bad loans, with the gross non-performing assets (GNPA) at 1.68% compared to 1.69% last quarter.

Provisions for bad loans were ₹14 crore, lower than ₹20 crore last quarter. Overall, CSB Bank showed solid growth in deposits, loans, and profits, while keeping bad loans under control.

On January 1, 2025, shares of CSB Bank closed at ₹314.95 which is a 0.95% gain than the previous close. Shares of CSB Bank has witnessed a total of 24% dip in the last one year, and 17% dip in the last six months.