CSB Bank stock up 7% on steady growth in advances, total deposits in Q1FY25

Shares of CSB Bank soared up to  7.2 per cent at Rs 402 per share on the BSE in Tuesday’s intraday trade. The stock price jump came after the private bank reported a 17.8 per cent year on year growth in gross advances to Rs 25,099 crore for the first quarter of fiscal year 2024-25 (Q1FY25). 

The bank’s total deposits increased by 22.2 per cent to Rs 29,920 crore in Q1FY25. 

However, CASA deposits were down by 1.3 per cent in the June quarter. On the other hand, term deposits rose 32.7 per cent to Rs 22,471 crore, while advances against gold and gold jewellery were up 24 per cent to Rs 12,487 crore during the June quarter of FY25.

CSB operates primarily in four business areas: SME banking, retail banking, corporate banking, and treasury operations.

The bank had reported a 3.1 per cent decline in net profit to Rs 151.46 crore in Q4FY24, down from Rs 156.34 crore in Q4 FY23. Total income surged 30 per cent year-on-year to Rs 991.38 crore in Q4FY24.

The small company has total market cap of 6,689 crore and is presently trading at a price to earnings multiple of 11.49 with an earning per share of Rs 32.67.  

The stock price of the company has zoomed 11.43 per cent in the last one month, while rallying by 31.9 per cent in the last one year. 

At 12:37 PM; the stock of the company most of its gains and was trading 1.98 per cent higher at Rs 382.85 per share on the BSE. In comparison, the BSE Sensex was down marginally by 0.08 per cent at 79,540 levels.