Private sector lender CSB Bank on Friday reported a 19% rise in net profit for the March quarter on higher income from both core and non-core verticals. The net profit stood at Rs 156 crore against Rs 131 crore in the year-ago period.The lender’s net interest margin was at 5.38% for the quarter under review, against 5.42% in the corresponding period last year. Net interest income rose 15% at Rs 349 crore. Other income nearly doubled at Rs 126 crore as compared with Rs 64 crore earlier.”We could sustain our core strengths and start the build phase,” said managing director Pralay Mondal. “All the retail verticals planned for the fiscal are in place and have started contributing. FY24 will…
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Category: Catholic Syrian Bank
CSB Bank PAT up 20% on strong gold loan growth, asset quality improves
CSB Bank today reported a 20 per cent YoY increase in its net profit for Q4 FY23 to ₹156 crore, flat on quarter. For FY23, the profit after tax was ₹547 crore, higher by 19 per cent.Net advances were up 31 per cent YoY and 12 per cent QoQ to ₹20,651 crore supported mainly by a gold loan portfolio growth of 48 per cent YoY, it said in a release.Net Interest Income (NII) for the quarter was ₹349 crore, up 15 per cent YoY and flat on quarter. For FY23, NII was ₹1,334 crore, higher by 16 per cent.The private sector lender continued making accelerated provisioning during the quarter, it said in a release, adding that the entire outstanding balance of security receipts has been…
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BS Banking Show: Watch Banking Sector Developments, Economy News, Financial Sector – Business Standard
BS Banking Show: Watch Banking Sector Developments, Economy News, Financial Sector Business Standard
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CSB Bank Plummets in Trading Today
The current data for CSB Bank stock shows that the stock price is ₹394.4. There has been a percent change of -0.95, indicating a decrease in value. The net change is -3.8, which means that the stock price has decreased by ₹3.8. Overall, this data suggests that the CSB Bank stock has experienced a slight decrease in value.
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CSB Bank won’t sacrifice growth for the sake of its net interest margins
CSB Bank has thought of prioritising growth over net interest margin (NIM) and investing in key areas of the business, the bank seems to be positioning itself for long-term success. While opex (operational expenditure) may remain elevated for the time being, the bank’s strong deposit growth and potential cost savings from the flattening G-Sec curve (Government Securities) could help offset these expenses in the future.In an interview with CNBC-TV18, Pralay Mondal, MD and CEO of CSB Bank said that after the bank reported earnings for Q4FY23, he expects deposit growth to remain strong for the bank.He said, “We will not sacrifice growth for NIM. We had a 30 percent growth in assets and a…
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CSB Bank stocks: Buy CSB Bank, target price Rs 330: ICICI Direct
ICICI Direct has buy call on CSB Bank with a target price of Rs 330. The current market price of CSB Bank is Rs 287.1. CSB Bank, incorporated in the year 1920, is a banking company (having a market cap of Rs 4985.98 Crore). CSB Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2022. Financials The Bank has reported Standalone Non Performing Assets (Gross NPAs) at .00 % of total assets and Standalone Net Non Performing Assets (Net NPAs) at .00% of total assets for the quarter ending #LatestQuarterDate. For the quarter ended…
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Want to be mid-sized bank with pan-India presence by 2030: CSB Bank chief
Pralay Mondal, MD & CEO of CSB Bank talks about the bank’s medium term growth plans, more specifically the SBS 2030, to Manojit Saha in a video interview in the Business Standard’s The Banking Show. Edited excerpts: Q) You will be completing the first year of your three-year term this September. What are the milestones that you want to achieve? Click here to follow our WhatsApp channel A) I think three years is a small period compared to what we want to achieve in the long run for the bank. But yes, we do have milestones – one is for the next three years and then more importantly for SBS 2030, which will end that year, by which we want to be in the mid-sector category. We will…
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CSB Bank Stocks Plummet in Trading Today
09 Jan 2024, 11:58:44 AM ISTCSB Bank share price Today :CSB Bank trading at ₹406, down -0.79% from yesterday’s ₹409.25 The CSB Bank stock price is currently at ₹406, with a percent change of -0.79. This means that the stock price has decreased by 0.79% compared to the previous trading day. The net change is -3.25, indicating that the stock has dropped by 3.25 points from its previous closing price.
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CSB Bank plans to expand gold and retail portfolios, open branches in Tier 1 cities: MD & CEO
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Kerala-based CSB Bank is looking at a bigger share of the gold and retail loan market and plans to expand lending in these segments, said Pralay Mondal, managing director and chief executive officer (MD & CEO).
“We are seeing a rising demand in the gold and retail sectors and look forward to lending more,” said Mondal.
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In an exclusive interaction with Moneycontrol (when?), Mondal said that the bank has more than half of its branches in semi-rural and urban…
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CSB Bank closed today at ₹391.05,
On the last day of trading, CSB Bank opened at ₹386.95 and closed at ₹376.4. The highest price reached during the day was ₹386.95, while the lowest price was ₹372.1. The market capitalization of CSB Bank is ₹6388.98 crore. The 52-week high for the stock is also ₹386.95, and the 52-week low is ₹215.05. The total BSE volume for CSB Bank shares on that day was 23,601.Disclaimer: This is an AI-generated live blog and has not been edited by MintGenie staff.
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