Fairfax-backed CSB Bank Q1 net profit jumps 14% to Rs 61 crore

Fairfax-backed CSB Bank has reported a 14 per cent increase in net profit to Rs 61 crore during the first quarter of the 2021-22 financial year, as compared to Rs 53.56 crore during the year-ago period.

Sequentially, too, the Kerala-based bank reported improved numbers, posting a rise of 42 per cent. It had reported a profit of Rs 42.89 crore during the March quarter. The total income of the bank during the period was also up by 15 per cent to Rs 571.53 crore, as against Rs 496.88 crore during the first quarter of the 2020-21 financial year.

The gross non-performing assets (NPAs) increased to 4.88 per cent of the gross advances as of June 30, 2021 as against 3.51 per cent by end of June last year.