CSB Bank Shares Surge 7% on Strong Q3 Results

2 Jan 2025 , 10:42 AM

Following the release of its Q3 FY25 financial report, which revealed strong growth, private lender CSB Bank shares increased 6.5% to an intraday high of Rs 334.15 on the BSE on Thursday.

Gross advances increased from Rs 22,867 crore to Rs 28,914 crore, a 26.45% YoY increase. With the exception of receivables secured against gold, advances against gold and gold jewelry increased dramatically, rising 36.28% year over year to Rs 13,018 crore from Rs 9,553 crore.

As of December 31, 2024, total deposits were Rs 33,406 crore, up 22.17% year-over-year (YoY) from Rs 27,345 crore during the same period the previous year.

The main driver of this growth was the 28.10% YoY increase in term deposits, which went from Rs 19,802 crore to Rs 25,365 crore. Additionally, CASA deposits rose from Rs 7,543 crore to Rs 8,041 crore, a 6.60% YoY rise.

Due to increased provisions, CSB Bank recorded a little 3.9% increase in net profit to Rs 138.4 crore in the second quarter of FY25, up from Rs 133.2 crore in the same period the previous year. The bank’s net interest margin for the quarter was 4.3%, down 54 basis points from 4.84% during the same period last year.

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