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CSB Bank records 72% YoY growth in Q2 PAT 
(16:15, 25 Oct 2021)

In Q2 FY22, the net interest income (NII) improved by 21.4% to ₹ 278.38 crore in from ₹ 229.25 crore in Q2 FY21.

Operating profit rose by 25.3% to ₹ 149.38 crore in the second quarter from ₹ 119.03 crore recorded in the same period last year.

The bank wrote back provision worth ₹ 9.07 crore in Q2 FY22. It had provisions of ₹ 26.94 crore in Q2 FY21.

Profit before tax in Q2 FY22 stood at ₹ 158.45 crore, up by 72.1% from ₹ 92.09 crore in Q2 FY21.

On the asset quality front, the gross non-performing assets were at ₹ 586.83 crore as of 30 September 2021 as against ₹ 686.39 crore reported on 30 June 2021 and ₹ 387.42 crore as of 30 September 2020.

The gross NPA ratio was 4.11% as of 30 September 2021 as compared with 4.88% as on 30 June 2021 and 3.04% as of 30 September 2020.

The net NPA ratio was 2.63% as of 30 September 2021 as against 3.21% reported on 30 June 2021 and 1.30% as of 30 September 2020.

The bank said that with the opening up of the economy, positive trends are visible in the asset quality front. Out of the gross NPA of ₹ 586.83 crore, ₹ 287.52 crore is gold NPA where the recoverability is almost assured. The bank's gross NPA excluding gold as on 30 September 2021 is lower than the position as on 30 June 2021 and 31March 2021.

Capital Adequacy Ratio is at 20.12%, which is well above the regulatory requirement. Leverage ratio is at 8.03% as on 30 September 2021.

Deposits grew by 9.09% YoY to ₹ 19,055.49 crore while advanced grew by 12.22% to ₹ 14,070.11 crore in Q2 FY22 over Q2 FY21.

CASA ratio stood at 32.60% as on 30 September 2021 as against 29.39% as on 30 September 2020 and 32.19% as on 31March 2021.

C VR Rajendran, managing director & CEO said, “For CSB, in terms of profitability, Q2 is a much better quarter than Q1 FY22 and we registered an increase of about 94% sequentially. Lot of good work has gone in managing the portfolio stress both in gold and non- gold portfolios and SMA/NPA levels were kept under control. Though treasury could not contribute much on the other income front, the gap was more or less covered by way of increased PSLC /Bancassurance/Fee incomes.

As the impact of COVID is not fully ascertained, bank decided to continue with the accelerated provisioning policy for stressed and NPA Accounts.

We have experienced the returning of demand in MSME, SME and WSB segments during the last part of the quarter. Visible growth is also happening in Gold loan portfolio.

In terms of growth, we look forward for better traction and results in the third quarter. With the product and process improvements both implemented/proposed, we intend to capture a better share of the retail segment and grow both the retail liabilities and assets.”

CSB Bank has a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra. It offers a wide range of products and services to overall customer base of 1.6 million, with particular focus on SME, retail, and NRI customers.

The scrip added 0.34% to end at ₹ 306.85 on the BSE today.

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As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educative material in the form of text and videos, so as to become an informed investor.

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Risk Disclosure on Derivatives

  • out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Source:
SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

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