CSB Bank Q3 FY25 Financial Results: Strong Growth in Deposits and Advances
Varahi media.com online news,Janauary 29th,2025: CSB Bank’s Board of Directors has reviewed and approved the financial results for the third quarter of FY25 (ended December 31, 2024) during their
Varahi media.com online news,Janauary 29th,2025: CSB Bank’s Board of Directors has reviewed and approved the financial results for the third quarter of FY25 (ended December 31, 2024) during their meeting on January 28, 2025. The results highlight a solid performance across key parameters, underscoring the bank’s growth trajectory.
- Deposits: The bank recorded a 22% year-on-year (YoY) increase in total deposits, rising from ₹27,345 crore as of December 31, 2023, to ₹33,407 crore as of December 31, 2024. The CASA ratio stands at 24%.
- Advances: Advances grew by 26% YoY, from ₹22,658 crore to ₹28,639 crore, with gold loans showing impressive growth of 36%.
- Profit After Tax (PAT): The bank posted a 10% quarter-on-quarter (QoQ) growth in PAT, from ₹138 crore in Q2 FY25 to ₹152 crore in Q3 FY25. On a YoY basis, PAT grew marginally by 1%.
- Operating Profit: Operating profit increased by 10% QoQ, from ₹200 crore in Q2 FY25 to ₹221 crore in Q3 FY25, and grew 13% YoY from ₹196 crore in Q3 FY24.
- Net Interest Income (NII): NII saw a 2% QoQ rise, reaching ₹375 crore, but declined by 2% YoY from ₹383 crore in Q3 FY24.
- Non-Interest Income: Non-interest income surged by 10% QoQ to ₹219 crore and saw a remarkable 75% increase YoY from ₹125 crore in Q3 FY24.
- Cost-to-Income Ratio (CIR): CIR stood at 63% for Q3 FY25, improving from 65% in Q2 FY25 but slightly higher than 61% in Q3 FY24.
- Capital Adequacy: The bank maintains a robust capital position, with a Capital Adequacy Ratio (CAR) of 21.08%, well above the regulatory requirement.
- Asset Quality: The bank improved its asset quality, with Gross Non-Performing Assets (GNPA) at 1.58% as of December 31, 2024, compared to 1.68% in Q2 FY25. Net Non-Performing Assets (NNPA) stood at 0.64%, improved from 0.69% in Q2 FY25.
| Parameter | Q3 FY25 | Q3 FY24 | YoY Growth | Q2 FY25 | QoQ Growth |
|---|---|---|---|---|---|
| Interest Income | ₹919 crore | ₹762 crore | +21% | ₹865 crore | +6% |
| Interest Expense | ₹544 crore | ₹379 crore | +43% | ₹497 crore | +9% |
| Net Interest Income (NII) | ₹375 crore | ₹383 crore | -2% | ₹367 crore | +2% |
| Other Income | ₹219 crore | ₹125 crore | +75% | ₹199 crore | +10% |
| Operating Profit | ₹221 crore | ₹196 crore | +13% | ₹200 crore | +10% |
| Provisions (Excl. Tax) | ₹17 crore | -₹5 crore | NA | ₹14 crore | +19% |
| PBT | ₹204 crore | ₹200 crore | +2% | ₹186 crore | +9% |
| Tax | ₹52 crore | ₹50 crore | +4% | ₹48 crore | +9% |
| PAT | ₹152 crore | ₹150 crore | +1% | ₹138 crore | +10% |
| Deposits | ₹33,407 crore | ₹27,345 crore | +22% | ₹31,840 crore | +5% |
| Advances (Net) | ₹28,639 crore | ₹22,658 crore | +26% | ₹26,602 crore | +8% |
| CASA | ₹8,042 crore | ₹7,543 crore | +7% | ₹7,670 crore | +5% |
| Gold Loans | ₹13,018 crore | ₹9,553 crore | +36% | ₹12,005 crore | +8% |
Pralay Mondal, Managing Director & CEO of CSB Bank, shared his thoughts on the bank’s performance: “The past quarter showed impressive business growth, surpassing industry trends. Deposits grew by 22%, and advances by 26%, compared to the industry’s 10-12% growth. Gold loans continued to be a strong contributor, growing 36% YoY, while other segments like SME and retail (excluding gold loans) grew by 29% and 32%, respectively. Despite challenges like the liquidation of some portfolios, we managed a solid overall performance. Our operating profit grew by 13%, and net profit showed a positive trend both YoY and QoQ.”
“Asset quality continues to improve with both GNPA and NNPA ratios declining sequentially. The bank remains well-positioned in terms of liquidity and capital. We are focusing on cost management, and our cost-to-income ratio has improved. The implementation of our CBS migration, expected to go live in Q1 FY26, will further support our growth ambitions.”
CSB Bank’s Q3 FY25 results highlight its strong growth in deposits and advances, with a focus on improving asset quality, cost management, and operational efficiency. With strategic investments and technological advancements, the bank is poised for sustained growth in the coming quarters.
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