CSB Bank vaults after blockbuster Q3 numbers

CSB Bank rose 3.59% to Rs 193.20 after net profit surged to Rs 28.14 crore in Q3 December 2019 compared with Rs 0.74 crore in Q3 December 2018.

Total income rose 8.3% to Rs 439.29 crore in Q3 December 2019 (Q3 FY20) from Rs 405.77 crore in Q3 December 2018 (Q3 FY19).

Profit before tax (PBT) surged to Rs 42.40 crore in Q3 FY20 as against PBT of Rs 1.60 crore in Q3 FY19. Tax expense jumped to Rs 28.14 crore in Q3 FY20 compared with Rs 0.74 crore in Q3 FY19.

Net Interest Income surged 31% to Rs 155.2 crore in Q3 FY20 as compared to Rs 118.3 crore in Q3 FY19. Net interest margin stood at 3.4% in Q3 December 2019 as against 2.6% in Q3 December 2018.

Gross non-performing assets (NPAs) stood at Rs 352.63 crore as on 31 December 2019 as against Rs 326.20 crore as on 30 September 2019 and Rs 780.03 crore as on 31 December 2018.

The ratio of gross NPAs to gross advances stood at 3.22% as on 31 December 2019 as against 2.86% as on 30 September 2019 and 7.52% as on 31 December 2018.

The ratio of net NPAs to net advances stood at 1.98% as on 31 December 2019 as against 1.96% as on 30 September 2019 and 3.67% as on 31 December 2018.

Provisions and contingencies fell 33.3% to Rs 27.61 crore in Q3 December 2019 from Rs 41.41 crore Q3 December 2018. Of this, provisions for NPAs rose 30.65% to Rs 35.29 crore in Q3 December 2019 from Rs 27.01 Q3 December 2018.

The Provision coverage ratio (PCR) of the bank as on 31 December 2019 is 80.3% as compared to 79.5% as on 30 September 2019 and 66.2% as on 31 December 2018.

Capital Adequacy Ratio of the bank as on 31 December 2019 is 23% as compared to 22.8% as on 30 September 2019 and 15.5% as on 31 December 2018.

CSB Bank is an Indian private sector bank with its headquarters at Kerala, India.

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