CSB Bank gains 7%, hits record high post June quarter business update

CSB Bank reported a 3.5 per cent QoQ decline in gross advances to Rs 14,146 crore

Shares of CSB Bank hit a record high of Rs 372.95, up 7 per cent on the BSE in intra-day trade on Monday after the lender released a business update for the April-June quarter of the financial year 2021-22 (Q1FY22). The stock surpassed its previous high of Rs 362.50 touched on June 30, 2021.

CSB Bank said its total deposits increased 14.17 per cent year-on-year (YoY) to Rs 18,652.80 crore as of June 30, 2021 (Q1FY22) from Rs 16,337.95 crore in the same period last year (Q1FY21). On a quarter-on-quarter (QoQ) basis, the total deposits declined 2.5 per cent from Rs