CSB Bank Q1 Results: Profit rises 16% to Rs 132 crore in June quarter

CSB Bank Q1 Result: CSB Bank on Thursday reported a 15.7 per cent increase in net profit at Rs 132 crore in the June quarter, aided by a decline in bad loans. The Kerala-based private sector lender had posted a net profit of Rs 114 crore in the year-ago period.

Total income in the first quarter of the current fiscal rose to Rs 805 crore from Rs 591 crore in the same period a year ago, CSB Bank said in a regulatory filing.

Interest earned by the bank grew to Rs 683 crore over Rs 536 crore in June 2022.

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The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.27 per cent of gross advances at the end of the June quarter from 1.79 per cent a year ago.

Similarly, net NPAs or bad loans, declined to 0.32 per cent as against 0.60 per cent in the year-ago period.

As a result, provisions for bad loans came down to Rs 14 crore as compared to Rs 16 crore allocated during same quarter a year ago.

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