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

CSB Bank rallied 3.62% to Rs 389 after the bank's total deposits jumped 22.24% to Rs 29,920 crore as on 30 June 2024 from Rs 24,476 crore as on 30 June 2023.

Of this, CASA deposits amounted to Rs 7,449 crore (down 1.32% YoY) and term deposits aggregated to Rs 22,471 crore (up 32.75% YoY) during the period under review.

Gross advances grew by 17.80% to Rs 25,099 crore as on 30 June 2024 as against Rs 21,307 crore posted in the same period a year ago.

Advances against gold & gold jewellery, stood at Rs 12,487 crore as on 30 June 2024, registering a growth of 24.08% on 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 3.1% decline in net profit to Rs 151.46 crore in Q4 FY24 as against 156.34 crore recorded in Q4 FY23. Total income jumped 30% YoY to Rs 991.38 crore in Q4 FY24.

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