CSB Bank Sees Slight Profit Rise Amid Asset Quality Concerns

CSB Bank posted a modest 4% increase in net profit to Rs 138 crore for Q3 2024. While total income grew to Rs 1,064 crore, asset quality worsened with higher NPAs. The capital adequacy ratio also fell compared to the previous year, reflecting mixed financial performance.

CSB Bank reported a marginal 4% increase in net profit amounting to Rs 138 crore for the quarter ending September 2024, according to its recent financial disclosure.

The bank, headquartered in Kerala, saw its total income for the quarter surge to Rs 1,064 crore, up from Rs 830 crore in the same period last year. Net interest income also saw a 7% rise, reaching Rs 367 crore.

However, asset quality showed signs of deterioration, with gross non-performing assets increasing to 1.68% compared to 1.27% a year earlier. The capital adequacy ratio experienced a decline, falling to 22.74% from 23.98% the previous year.

(With inputs from agencies.)