 "CSB Bank Q4 net up over two-fold YoY to Rs 131 cr, asset quality improves")
Kerala-based CSB Bank has posted a two-fold rise in net profit during the fourth quarter of 2021-22 to Rs 131 crore, as compared to Rs 43 crore during the same period in 2020-21.
The bank’s operating profit was up by 77 per cent during the quarter under review to Rs 142.05 crore as against Rs 80.38 crore during the January to March quarter of 2020-21. The company said that the performance during the quarter improved due to reasons including higher earnings and improvement in asset quality among.
The bank’s net profit more than doubled from Rs 218.40 crore in FY21 to Rs 458.49 crore in FY22. Its operating profit too posted a 19 per cent rise to Rs 613.72 crore during the financial year 2021-22 from Rs 515.52 crore for FY 21.
The bank’s asset quality improved with the gross non-performing assets (NPAs), from 2.68 per cent as on March 2021 to 1.81 per cent as on March 2022. In absolute terms, gross NPA decreased by Rs 104 crore from Rs 393.49 crore last year to Rs 289.51 crore this year. Net NPA percentage decreased from 1.17 per cent as on March 2021 to 0.68 per cent in March this year.
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