Page 2 - Catholic Syrian Bank

Catholic Syrian Bank to raise Rs 400 crore capital through QIB

Catholic Syrian Bank (CSB) Board has given permission to raise capital by way of QIB allocating upto 40 million shares to the investors. The Bank which is seeking around Rs 400 crore to fund its growth till March 2019, said the process will be completed by October.The development comes two months after Fairfax calls off CSB investment plan due to valuation issue. The Canadian investor Prem Watsa's Fairfax Financial Holdings, was planning to invest around Rs 1,000 crore in CSB for a 51 per cent stake.Speaking to Business Standard C VR Rajendran, Managing Director & CEO of the Bank said that the Board has given an approval for issue preferential shares by selling upto 40 million shares. The prices will be decided by way of book-building process.Depending upon the price, the Bank may either issue 20 million shares or a little more than that or if the price is good it can go upto 40 million shares also, he added. If the Bank issue all the 40 million shares, it will be 33 per cent ...

Catholic Syrian Bank aims to get back to consistent growth, says MD & CEO

Kerala-based Catholic Syrian Bank has chalked plans to put the Bank to a path of consistent growth and sustainable success, powered by core income growth.The Bank is focusing are Capital augmentation after Fairfax deal didn't go through.Bank was able to report an Operating Profit of Rs 151.71 crore as against operating loss of Rs 3.75 crore in 2015-16 and reported a Net profit of Rs 1.55 crore as against net loss of Rs 149.72 crore in 2015-16.T.S. Anantharaman, chairman, Catholic Syrian Bank said Bank's profitability was under stress mainly due to muted growth in overall business and increase in NPA provisioning. But the erosion in profitability has been arrested and contained. Despite the challenges faced during the period, CSB has remained capitalised enough and fundamentally strong to absorb these adversities and has returned as a profit generating institution from continuously being in the red for the past two years.There are, however, challenges of improving the quality of ...

Fairfax calls off CSB deal, differences crop up over valuation

With the deal called off, the bank might have to find another investor, sources said

Catholic Syrian Bank to hire 30 specialist officers

Interested candidates who have successfully completed CA can apply at www.csb.co.in

Catholic Syrian Bank awaits RBI nod for Fairfax investment

The proposed Rs 1,000 crore investment will allow CSB to increase its assets 10 times

C V R Rajendran new MD & CEO for Catholic Syrian Bank

Currently he is the Chief Executive Officer of the Association of Mutual Funds in lndia

Catholic Bank swings to profit during six months

Gross NPA down to Rs 462.70 crore from Rs 503.65 crore

Catholic Syrian Bank plans to raise capital through preferential issue

Kerala-based private bank to allot preferential shares to 7 investors which includes Reliance Capital, Bennet, Coleman & others

Catholic Syrian Bank plans to raise Rs 500 crore, investors shown interest include Fairfax

The bank said existing investors would continue and it would dilute fresh equity for the proposed fund raising