BANKS

CSB Bank Q1 net up 14% to Rs 61 cr

    CSB Bank’s gross NPAs rose to 4.88% of the gross advances as of 30 June 2021, from 3.51% a year ago. Net NPA rose to 3.21% from 1.74%.
    • 22 July 2021

    Private lender CSB Bank has posted a nearly 14% growth in its net profit to Rs 61 crore in the fiscal first quarter ended June compared to Rs 53.56 crore in the year-ago quarter.

    Total income in the quarter rose to Rs 571.53 crore from Rs 496.88 crore in the earlier-year, the bank said in a regulatory filing. The bank had reported a total income of Rs 609.45 crore in the January-March quarter of FY21.

    Provisions for bad loans and contingencies rose to Rs 98.26 crore in the quarter ended June 2021 from Rs 57.53 crore in the year-ago quarter.

    The South-based bank’s gross non-performing assets (NPAs) rose to 4.88% of the gross advances as of 30 June 2021, from 3.51% a year ago. Net NPA rose to 3.21% from 1.74%.

    In absolute value, the gross NPAs of the bank stood at Rs 686.39 crore, higher than Rs 401.03 crore. Net NPAs were at Rs 443.75 crore, up from Rs 195.24 crore.