CSB Bank Q2 net profit surges 10% as asset quality improves

Private sector lender CSB Bank’s net profit in September quarter rose a 10 per cent to Rs 133 crore as against Rs 121 crore during the same period last year.

The bank’s total income rose from Rs 600 crore to Rs 836 crore, as stated in a regulatory filing by CSB Bank.

During this quarter, the bank's interest income reached Rs 687 crore, a notable improvement from Rs 555 crore in the same period the previous year.

On the asset quality front, CSB Bank demonstrated better performance, with gross non-performing assets (NPAs) decreasing to 1.27 per cent of gross advances by the end of September 2023, compared to 1.65 per cent a year ago. Additionally, net NPAs decreased to 0.33 per cent from 0.57 per cent in the same quarter the previous year.

As of 3:02 pm, CSB Bank shares traded 0.96 per cent lower at Rs 361, underperforming the S&P BSE 500 index which was 0.6 per cent.

(With PTI Inputs)