CSB Bank posts 72% rise in Q2 net profit; asset quality improves

CSB Bank on Monday reported a 72 per cent jump in net profit at Rs 118.57 crore in the second quarter ended September.

The Kerala-based private sector lender had reported a net profit of Rs 68.90 crore in the corresponding quarter of the previous fiscal.

Total income during July-September in FY22 rose to Rs 555.64 crore, as against Rs 513.77 crore in the year-ago quarter, CSB Bank said in a regulatory filing.

On the asset front, the bank's non-performing assets (NPAs) rose to 4.11 per cent of the gross advances as of September 2021, as against 3.04 per cent a year ago.

In absolute terms, gross NPAs stood at Rs 586.83 crore, higher than Rs 387.42 crore.

Net NPAs or bad loans stood at 2.63 per cent (Rs 370 crore) as against 1.30 per cent (Rs 163.52 crore).

Stock of CSB Bank traded 1.41 per cent up at Rs 310.10 apiece on BSE.