<div style="float: left;">
		<img align="" alt="Catholic Syrian Bank reports Rs 53.17 crore profit in half-year results" class="imgCont" height="163" src="http://bsmedia.business-standard.com/_media/bs/img/article/2014-05/26/full/1401111855-6516.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Catholic Syrian Bank reports Rs 53.17 crore profit in half-year results" width="218" />
		<div>
			<div>
				Kerala-based Catholic Syrian Bank (CSB) has reported a net profit of Rs&nbsp;53 crore for the past six months ended September as against a loss of Rs40.5 crore a year ago.&nbsp;</div>
			<br>
			<div>
				S Santhakrishnan, chairman of the bank, attributed this to treasury profit and increase in operational efficiency.</div>
			<br>
			<div>
				The bank&#39;s total income rose to Rs&nbsp;835 &nbsp;crore, from Rs&nbsp;814 crore a year ago.</div>
			<br>
			<div>
				It has also managed to contain non-performing assets (NPAs) during the period.</div>
			<br>
			<div>
				NPAs dropped to Rs&nbsp;462.7 crore, from Rs&nbsp;503.6 crore a year ago. In percentage terms, NPAs dropped to 5.7 per cent from 5.76 per cent of total assets. Net NPAs dropped to Rs&nbsp;330.6 crore, from Rs&nbsp;405.5 crore a year ago. In percentage terms, bad loans were 4.14 per cent of total loans compared to 4.69 per cent a year ago.</div>
			<br>
			<div>
				Santhakrishnan said NPAs have reached a level that will not &ldquo;worry us any anymore&rdquo;.</div>
			<br>
			<div>
				The bank recently raised Rs&nbsp;120 crore. The money will help it lend Rs&nbsp;1,000 crore, he said.</div>
			<br>
			<div>
				The bank is one of India&rsquo;s oldest private sector banks, with its headquarters in Thrissur district. For over nine decades, the bank has remained a neighbourhood lender. The company has a strong base in Kerala. It also has significant presence in Tamil Nadu, Karnataka, and Maharashtra.</div>
			<br>
			<div>
				Key focus areas of the bank are small and medium enterprises, retail clients, and non-resident Indians (NRIs). It has a strong deposit book as most of its NRI customers and expatriates in the Gulf send money home through bank&#39;s network. &nbsp;</div>
		</div>

Gross NPA down to Rs 462.70 crore from Rs 503.65 crore

Catholic Syrian Bank reports Rs 53.17 crore profit in half-year results

Kerala-based Catholic Syrian Bank (CSB) has reported a profit of Rs 53.17 crore during the six months ended September 2016 as against loss of Rs 40.52 crore, a year ago.Bank's total income rose to Rs 835.38 crore from Rs 814.25 crore.The Bank also managed to curtain NPAs during the six months period.Gross NPA of the bank dropped to Rs 462.70 crore from Rs 503.65 crore. In per centage terms it has dropped to 5.70 per cent from 5.76 per cent.Net NPA dropped to RS 330.56 crore from Rs 405.48 crore, a year ago. In per centage terms it was 4.14 per cent as compared to 4.69 per cent.It may be noted, the Kerala-based private Bank is in the process of bringing strategic and financial investors.The company is planning to raise money through allotment of preferential shares. The investors include Edelweiss Tokio Life Insurance, Reliance Capital, ICICI Pru, HDFC Standard Life, Bennet, Coleman, Bharati Axa and Bajaj Alliance.While the management of the Bank was not available for comment immediatel

Catholic Bank swings to profit during six months

Gross NPA down to Rs 462.70 crore from Rs 503.65 crore

Also Read

Catholic Syrian Bank reports Rs 53.17 crore profit in half-year results

Catholic Syrian Bank plans to raise Rs 500 crore, investors shown interest include Fairfax

Catholic Syrian Bank plans to raise capital through preferential issue

Federal profit up 18%

Unified Payment Interface app downloads cross 10,000

Explore News