CSB Bank Q3 Business Update: Total Deposits Grows 22% To Rs 33,406 Crore

CSB Bank Ltd. on Wednesday said that its total deposits as of Dec. 31, 2024, stood at Rs 33,406 crore, growing 22.2% year-on-year.

In comparison, in the year-ago period, the lender's deposits were at Rs 27,345 crore, according to the bank's provisional quarterly business updates filed with stock exchanges on Tuesday.

For the same period, the Thrissur-based bank's gross advances rose 26.45% to Rs 28,914 crore. Last fiscal, as on Dec. 31, its gross advances stood at Rs 22,867 crore.

The advances against gold and gold jewellery for the quarter were 36.28% higher at Rs 13,018 crore, in comparison to Rs 9,553 crore in the year-ago period.

The current account and savings account or CASA deposits for the quarter grew 6.6% and stood at Rs 8,041 crore, in comparison to Rs 7,543 crore in the year-ago period.

Earlier, in the July-September quarter, CSB Bank's gross advances had witnessed a 20% jump on a yearly basis to Rs 26,871 crore.

For the second quarter, it had reported a 25.17% advance in deposits at Rs 31,841 crore, as compared to Rs 25,439 crore in the same period last year.

The advances against gold and gold jewellery in the September quarter were 27.69% higher at Rs 12,005 crore, in comparison to Rs 9,402 crore in the year ago period.

In October, CSB Bank Managing Director and Chief Executive Officer Pralay Mondal had said that the lender's decision to limit its exposure to unsecured loans, personal loans and microfinance had helped it navigate the pressures in these lending segments.

“For us, GNPA has remained the same, NNPA is hardly 1 bps up. But the good part is slippages have come down significantly from the last quarter and I think we will continue to reduce that,” the top executive had told NDTV Profit at that time.

Shares of CSB Bank on Wednesday closed 0.02% lower at Rs 313.65 apiece on the BSE, compared to a 0.47% advance in the benchmark Sensex.