“The bank is well entrenched on the growth track and have recorded a growth of over 10 per cent in both deposit and advances,” said C VR Rajendran, MD, CSB Bank. “We could post improvement in all key metrics: NIM, Cost Income Ratio, RoA, RoE, Gross NPA, Net NPA, PCR, CRAR.”
Gross bad loan ratio declined to 3.04 per cent at the end of the September quarter versus 3.22 per cent a year ago. It’s net NPA stood at 1.3 per cent.
Total provisions for the bank rose over 40 per cent to Rs 80.7 crore versus Rs 24.6 crore a year ago. The bank made provisions of Rs 58.2 crore for the half year.
Total Deposits grew by 13 per cent year on year while advances grew 11 per cent. Gold loans led the asset growth for the lender and rose 47 per cent.
“While the asset growth so far has been contributed mostly by gold loan growth, we are committed to diversify the asset base and product suite,” Rajendran said.