CSB Bank gains as total deposits climbs 22% YoY in Dec'24

CSB Bank rallied 4.64% to Rs 328.20 after the bank's total deposits jumped 22.16% to Rs 33,406 crore as on 31 December 2024 from Rs 27,345 crore as on 31 December 2023.

Of this, CASA deposits amounted to Rs 8,041 crore (up 6.60% YoY) and term deposits aggregated to Rs 25,365 crore (up 28.10% YoY) during the period under review.

Gross advances grew by 26.45% to Rs 28,914 crore as of December 2024 as against Rs 22,867 crore posted in the same period a year ago.

Advances against gold & gold jewelry stood at Rs 13,018 crore as of 31 December 2024, registering a growth of 36.28% on a YoY basis.

 

CSB Bank is an old private sector bank with a history of over 100 years and operating out of 753 branches. The business is concentrated in Kerala (approximately 50% branches) with remaining spread mainly across Tamil Nadu, Karnataka, and Maharashtra.

The bank reported a 3.9% increase in net profit to Rs 138.41 crore in Q2 FY25 as against 133.17 crore recorded in Q2 FY24. Total income jumped 28.2% YoY to Rs 1,064.23 crore in Q2 FY25.

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