After Fairfax investment and listing, CSB Bank eyes business expansion

While many banks are still struggling with cost overruns and missed deadlines, resulting cost reduction pressures, CSB is employing solutions for regaining profitability at a post-crisis level

After fund infusion of around Rs 1208 crore in two years, CSB Bank Ltd is looking to enhance controls across key business processes, strengthen the front office and internal audit to ensure improved compliance coupled with a cultural transformation to attract talent to the bank.
 

FIH Mauritius Investments Ltd, a Fairfax Group Company, has infused a total of Rs 1,208 crore into CSB, of which Rs 721 crore was received in the FY 2019 and the balance Rs 487 crore in the FY2020, said the bank in its annual report for the year 2019-20.
 

While many banks are still struggling