CSB Bank has registered a net profit of Rs 415 crore for the nine months ending on 31 December 2023 (Q3 FY 24) vis a vis a net profit of Rs 391 crore for the corresponding period last year. Net profit has improved by 6 per cent on a year-on-year (YoY) basis.
The bank has continued with its policy of maintaining accelerated loan provisioning during this quarter as well. Net profit for the quarter alone stood at Rs 150 crore in Q3 FY24. The annualised RoA for the nine months (9M FY24) is at 1.78 per cent.
The gross non-performing assets (GNPA) have come down to 1.22 per cent from 1.26 per cent in the last financial year. But, on the negative side, the provision coverage ratio has decreased from 92.11 per cent to 91.85 per cent on a YoY basis.
Capital Adequacy Ratio is at 22.99 per cent, which is well above the regulatory requirement. The leverage ratio is at 8.97 per cent till Q3 FY24 which is above the regulatory threshold ceilings.
Total deposits have grown by 21 per cent YoY. The current account savings account (CASA) book has grown from Rs 7,126 crore to Rs 7,543 crore YoY (up by 6 per cent). The CASA ratio stood at 27.58 per cent as of December 2023. Net advances have shown a growth of 23 per cent YoY from Rs 18,457 crore to Rs 22,658 crore till 31 December 2023.