CSB Bank shares rise nearly 3%; check recent updates and how the lender fared in September quarter

On Tuesday, shares of the lender jumped up to 8% on heavy volumes. However, the stock settled nearly 3% higher. 

For the quarter ended September 30, 2024 (Q2 FY25), CSB Bank reported a marginal 4% rise in net profit to ₹138 crore.

The Kerala-based lender had earned a net profit of ₹133 crore in the year-ago period.

Its total income rose to ₹1,064 crore in the quarter under review from ₹830 crore in the year-ago period, CSB Bank said in a regulatory filing.

Its net interest income improved to ₹367 crore in the July-September quarter from ₹344 crore in the September quarter of 2023, registering a growth of 7%.

Asset quality of the bank deteriorated, with gross non-performing assets (NPAs) rising to 1.68% of gross advances at the end of the September 2024 quarter against 1.27% a year ago.

The net NPAs, or bad loans, also rose to 0.69% against 0.33% in the year-ago period.

Its capital adequacy ratio of the bank decreased to 22.74% from 23.98% at the end of September 2023.

On December 13, the lender informed exchanges that its board has appointed Narasimha Raju Narasappa Doddahosahalli as an additional director (independent) of the bank for a period of three years with effect from December 13, 2024, up to December 12, 2027 (both dates inclusive), not liable to retire by rotation.

The board also approved the reappointment of Sharad Kumar Saxena as an independent director of the bank for a period of five years (second term) with effect from February 19, 2025, up to February 18, 2030 (both dates inclusive), not liable to retire by rotation.