CSB Bank Ltd has reported a 137.4 per cent surge in PBT to Rs 92.1 crore during the quarter ended September 30, 2020, from Rs 38.8 crore a year ago. Interest income rose by 24.7 per cent to Rs 470 crore from Rs 376.9 crore, a year ago.
The bank's Covid-19 provisions stood at Rs 15.6 crore during the quarter, while other provisions stood at Rs 65.2 crore as compared to Rs 24.6 crore, up 164.9 per cent.
Net Interest Income (NII) stood at Rs 229.2 crore as against Rs 147 crore in Q2 FY 20 with an absolute growth of Rs 82.20 crore or 56 per cent YoY and 23.7 per cent QoQ.
The factors that supported higher NII in the second quarter of fiscal 2021 vis-a-vis Q2FY20 are yield on advances which rose by 10.33 per cent, a 5.18 per cent drop in cost of deposits, NIM rising to 4.5 per cent from 3.69 per cent and yield on investments rising to 6.74 per cent from 6.52 per cent.
Gross NPA decreased from Rs 401 crore as on June 30, 2020 to Rs 387 crore as on September 30, 2020. Gross NPA as percentage of advances stood at 3.04 per cent as on September 30, 2020 against 3.51 per cent and 3.54 per cent, respectively on June 30, 2020 and March 31, 2020. Net NPA decreased 16 per cent from 195 crore on June 30, 2020 to Rs 164 crore on September 30, 2020.
Net NPA as percentage of advances decreased from 1.74 per cent as on June 30, 2020 and 1.91 per cent as on March 31, 2020, to 1.30 per cent as on September 30, 2020
Provision coverage improved to 84.24 per cent as on September 30, 2020 from 81.7 per cent as on June 30, 2020 and 80 per cent as on March 31, 2020.
Capital Adequacy Ratio improved from 18.93 per cent as on June 30, 2020 to 19.69 per cent as on September 30, 2020. Leverage ratio was 7.52 per cent on September 30, 2020.
Total Deposits grew by 13 per cent YoY and 7 per cent QoQ. CASA ratio stood at 29.4 per cent as on September 30, 2020, as against 28.17 per cent as on September 30, 2019. Advances (Net) grew YoY at 11 per cent and QoQ at 12 per cent gold loans grew at 47 per cent YoY and 29 per cent QoQ.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU