CSB Bank Q2 profit jumps to Rs 69 cr; to hike proportion of gold loans

Private sector lender CSB Bank on Monday reported over two-fold jump in September quarter net profit at Rs 68.9 crore, driven largely by core income growth.

It had posted a profit of Rs 24.6 crore in the second quarter of 2019-20.

The core net interest income grew 56 per cent to Rs 229.2 crore mainly on the back of a sharp widening of net interest margin to 4.50 per cent from 3.69 per cent in the year-ago period and an 11 per cent growth in loans.

Bank's chief executive and managing director CVR Rajendran attributed the widening of margin to a sharp decline