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CSB Bank Q2 profit jumps to Rs 69 cr; to hike proportion of gold loans

It had posted a profit of Rs 24.6 crore in the second quarter of 2019-20

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A bulk of the loan growth came from the wide-margin gold loans, which were up 47 per cent as compared to the year-ago period

Press Trust of India Mumbai
Private sector lender CSB Bank on Monday reported over two-fold jump in September quarter net profit at Rs 68.9 crore, driven largely by core income growth.
It had posted a profit of Rs 24.6 crore in the second quarter of 2019-20.
The core net interest income grew 56 per cent to Rs 229.2 crore mainly on the back of a sharp widening of net interest margin to 4.50 per cent from 3.69 per cent in the year-ago period and an 11 per cent growth in loans.
Bank's chief executive and managing director CVR Rajendran attributed the widening of margin to a sharp decline

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First Published: Oct 19 2020 | 8:57 PM IST

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