We'd like to be seen as a full service new-age private bank: CSB Bank chief

In a Q&A, C V R Rajendran, MD & CEO, CSB Bank Ltd, dwells on how the lender turned around in FY20, after several years of losses

After reporting continued losses, Fairfax-backed CSB Bank (formerly Catholic Syrian Bank) finally turned around by reporting Rs 134 crore as against a loss before tax of Rs 300 crore in 2018-2019. Despite having taken a one-time hit of Rs 87 crore on its P&L account for switching over to lower tax rates, the lender posted net profit of Rs 13 crore in FY20 from a loss of Rs 197 crore the preceding year. The bank had, in fact. been reporting losses right from 2014-15 till 2018-19, with a meagre profit of Rs 1.55 crore in 2016-17.

C V R Rajendran,