 "Fairfax-backed CSB Bank's Q3 PBT increases multiple fold to Rs 42.4 cr")
Fairfax-backed CSB Bank's profi before tax (PBT) rose to Rs 42.4 crore during the third quarter of the current fiscal from Rs 1.6 crore, during the same period last year. The bank's net profit rose to Rs 28.1 crore from Rs 0.7 crore. Net Interest Income (NII) of the bank rose by 31 per cent to Rs 155.2 crore from Rs 118.3 crore.
Net NPA, which came in at 3.7 per cent last year's third quarter, dropped to 2 per cent during the current fiscal.
In absolute terms, the lender's net NPA decreased to Rs 213.7 crore as on 31.12.19 from Rs 365.5 crore as on December 31, 2018 and the capital adequacy ratio rose to 23 per cent from 15.5 per cent.
The bank's provision coverage improved to 80.3% as on December 31, 2019 from 66.2 per cent, a year ago.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%