Home / News

Finance

  • 0

CSB Bank Limited Financial Results for the Quarter and Year ended 31.03.2022

CSB Bank Limited Financial Results for the Quarter and Year ended 31.03.2022

The Board of Directors of CSB Bank took on record the audited financial results for the fourth quarter (Q4 FY 2022)   and for the year ended 31.03.2022 (FY 22) in their meeting dated 06.05.2022.

 

Highlights

 

  • Net Profit: Net Profit has more than doubled from Rs 218.40 Crs in FY 21 to Rs 458.49 Crs in FY 22. Q4 FY 22 net profit is at Rs 130.67 Crs as against Rs 42.89 Crs in Q4 FY 21- growth of 205%. Bank continued its conservative provisioning policy during this quarter as well. The RoA for the year ended 31.03.2022 is 1.90%, up from 0.99% for the previous year.
  • Operating Profit for FY 22 is Rs 613.72 Cr, posting a healthy growth of 19% from Rs 515.52 Cr for FY 21. Q4 FY 22 operating profit (Rs 142.05 Cr) is up by 77% over Q4 FY 21(Rs 80.38 Cr).
  • Net Interest Income for (NII) for FY 22 stood at Rs 1153.30 Cr posting an increase of Rs 211.91 Crs or by 22.51% YoY. In Q4 FY 22, the NII stood at Rs 303.83 Cr as against Rs 275.70 Cr in Q4 FY 21 or a growth of 10.20%. Increase in NII has been powered by spread and volume effects. Yield on advances improved by 24 basis points YoY to 11.21% even as the average advances grew by 14%. Cost of deposits reduced by 76 basis points to 4.31% while average CASA surged by 22%. NIM improved by 46 bps from 4.81% in FY 21 to 5.27% in FY 22.
  •  Non-Interest Income for FY 22 posted a de-growth of 18.58%  compared to the previous FY mainly due to dip in treasury profits by 90%. Excluding Treasury Profits, Other income registered a growth of 17% y-o-y powered by growth in commission income.
  • Credit Costs:Net off bad debts recovered amounting to Rs 79 Crs , we have a write back of NPA provision to the tune of Rs 9.81 Crs as on 31.03.2022 as against a P&L hit of Rs 106.83 Crs for FY 21.
  • Cost Income Ratio: For the full FY is at 56.17% with an improvement of 241 bps over last FY figure of 58.58%. The improvement has come despite increase in non-staff opex by 31% due to the new branch openings, increase in cost of business correspondent tie ups and technology costs. Bank opened 100 branches in FY 22.

 

  • Asset Quality & Provisioning: This was a prominent quarter in terms of NPA recovery where we could contain both gold as well as non-gold NPAs. Out of the gross NPA of Rs 289.51 Crs, Rs 28.81 Crs is gold NPA.

 

  • Gross NPA decreased by Rs 104 Crs ie, from Rs 393.49 Crs as on 31.03.21 to Rs 289.51 Crs as on 31.03.22. The GNPA percentage that was at 2.68% as on 31.03.21 improved by 87 bps to 1.81% as on 31.03.22. NPA in gold loans decreased from Rs 45.39 Cr to Rs 28.81 Cr YoY.
  • Net NPA percentage decreased from 1.17% as on 31.03.21 to 0.68% or by 49 bps.  In absolute terms, NNPA reduced by Rs 62 Crs to Rs 106.99 Crs as on 31.03.2022.
  • Provision Coverage Ratio improves to 89.65% as on 31.03.2022 where as it was 84.89% last year.
  • We are holding a standard asset provision of Rs 106 Crs as on 31.03.22 over and above RBI requirements and if we consider this also, PCR is close to 100%.

 

  • Capital Adequacy Ratio is at 25.90%, which is well above the regulatory requirement. Leverage ratio is at 9.12% as on 31.03.2022.

 

 

  • Book Value, EPS and RoE Book Value per share increased from Rs 117 to Rs 144 or by 23%  with Earnings per Share of Rs 26.43 in FY 22(Rs 12.59 in FY 21). RoE increased from 12.5% to 21.3%.
  • Comfortable Liquidity Position with Liquidity Coverage Ratio at 154% and Net Stable Funding Ratio at 153%.
  • Total Deposits grew by 5.50% YoY and CASA ratio stood at 33.66 % as on 31.03.22 as against 32.19% as on 31.03.2021.
  • Advances (Net) grew by 10 % YoY to Rs 15815 Cr as on 31.03.22

Previous News

Technology News

Samsung Announces Exciting Cashback and Affordability Offers on Galaxy A Series Smartphones for Festive Season

Samsung Announces Exciting Cashback and Affordability Offers on Galaxy A Series Smartphones for Festive Season

Gurugram, India – October 11, 2023: Samsung announced exciting offers

HMD Nokia G42 5G (16GB+256GB) Variant Launched: With Snapdragon 480 Plus 5G Chipset Powers & Stylish Colours

HMD Nokia G42 5G (16GB+256GB) Variant Launched: With Snapdragon 480 Plus 5G Chipset Powers & Stylish Colours

Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G

IN-SPACe unveils Decadal Vision & Strategy for Indian Space Economy

IN-SPACe unveils Decadal Vision & Strategy for Indian Space Economy

Bengaluru, October 10, 2023  IN-SPACe (Indian National Space Promotion and

Philips OneBlade Partners with College Rivals for an Epic Gaming Journey Enabling Gen Z to ‘Move Fearlessly’

Philips OneBlade Partners with College Rivals for an Epic Gaming Journey Enabling Gen Z to ‘Move Fearlessly’

New Delhi, October 3, India- Philips India announces an exciting co

Latest Business News

SANY India partners with J&K Bank to provide financial solutions to its customers

SANY India partners with J&K Bank to provide financial solutions to its customers

Mumbai, March 13, 2024SANY India, a leading manufacturer of construction equipment, has taken a

Radisson Hotel Group strengthens footprint in Ayodhya with signing of 150-room Radisson Blu Hotel, Ayodhya

Radisson Hotel Group strengthens footprint in Ayodhya with signing of 150-room Radisson Blu Hotel, Ayodhya

Continuing its expansion plan in India, Radisson Hotel Group is excited to announce the signing of 150-room Radisson Blu Hotel, Ayodhya. A greenfie