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CSB Bank deposits grow 9%, advances up 12% in Q2

Capital Market 

CSB Bank said that its total deposits increased 9% to Rs 19,061.62 crore as on 30 September 2021 from Rs 17,468.44 crore as on 30 September 2020.

Of this, CASA deposits were at Rs 6,214.11 crore (up 21.04% YoY) while term deposits were at Rs 12,847.51 crore (up 4.16% YoY) as on 30 September 2021.

Gross advances increased by 12.09% to Rs 14,304.14 crore as on 30 September 2021 from Rs 12761.80 crore as on 30 September 2020.

Advances against Gold & Gold Jewellery, aggregated to Rs 5441.44 crore (up 10.17% YoY) as on 30 September 2021.

CSB Bank has a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra. It offers a wide range of products and services to overall customer base of 1.6 million, with particular focus on SME, retail, and NRI customers.

The bank's net profit jumped 13.89% to Rs 61 crore on 15.02% rise in total income to Rs 571.53 crore in Q1 FY22 over Q1 FY21.

Shares of CSB Bank were trading 2.92% higher at Rs 319.20 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 04 2021. 11:07 IST