Catholic Syrian Bank

CSB Bank Q4 results: Private lender's net profit falls 3% to Rs 151 cr

Private sector lender CSB Bank on Friday reported a 3 per cent decline in its net profit to Rs 151 crore for the fourth quarter ended March 2024, mainly due to a rise in bad loans. The Kerala-based lender had earned a net profit of Rs 156 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 991 crore against Rs 762 crore a year ago, CSB Bank said in a regulatory filing. The interest income grew to Rs 795 crore during the period under review from Rs 636 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross non-performing assets (NPAs) rose to 1.47 per cent of gross advances as of March 31, 2024, from 1.26 per cent at the end of March 2023. Net NPAs also rose to 0.51 per cent of the advances from 0.35 per cent at the end of 2024. As a result, provisions for bad loans rose significantly to Rs 29 crore compared to Rs 3 crore in the same quarter a year ago.

Dhanlaxmi appoints 3 new directors in board, paves the way for rights issue

The bank management and shareholders have reached compromise formulae on the issue of appointing the latter's representatives as directors on the bank's board

Balancing tradition and new systems key for old, traditional banks: Experts

These banks need to understand their limitations and balance tradition with new age banking systems, they say

Investors are convinced with CSB Bank's transformation story: CEO Rajendran

Our positioning as a competition to the NBFCs and not the bigger banks impressed investors, says Rajendran

CSB Bank extends MD and CEO Rajendran's tenure by three years to Dec 2022

Rajendran's current tenure was slated to end on December 9, 2019

CSB Bank IPO subscribed 79.72 times; raises Rs 184 cr from anchor investors

The company, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the IPO.

CSB Bank announces launch of Rs 410-crore IPO, price band at Rs 193-195

The leading managers for the issue are Axis Capital and IIFL Securities

Fairfax-backed CSB Bank fixes share price at Rs 193-195 for IPO on Nov 22

The bids for the offer can be applied for a minimum of 75 shares and its multiples

Kerala-based CSB Bank gets Sebi's go-ahead to float initial public offering

The private sector lender, which filed draft papers with the markets regulator in August, received its observations on October 1, latest update with Sebi showed

Old private banks set to improve game with renewed interest from investors

These banks, taking a cue from the recent credit crisis, are reworking their underwriting practices

Catholic Syrian Bank plans to change name to 'CSB Bank Ltd' ahead of IPO

The management has said the present name had been a locally known one in Kerala and nearby states for around a century, though it now has branches in many states

RBI approves appointment of Madhavan Menon as part-time chairman of CSB

Menon is currently the chairman and managing director of Thomas Cook India

Catholic Syrian Bank asks employees to retire at 58, seeks to cut costs

Prem Watsa's Fairfax India Holdings secured two board seats, including the chairman's post, when it acquired a 51-per cent stake in the bank.

CSB to amend Articles of Association to give board seats to Fairfax

Fairfax agreed to invest around Rs 12 billion in the bank

RBI nod for Fairfax's 51% stake acquisition in Catholic Syrian Bank

This is the first stake sale of an Indian bank to a foreign non-banking entity since the apex bank tweaked ownership norms in May 2017

We will turn around with Rs 1 billion profit in 2018-19: C V R Rajendran

We need to grow the balance sheet, which did not grow for the past three-four years due to lack of capital

A born-again bank! Fairfax deal a shot in arm for CSB's turnaround strategy

Fairfax's interest in CSB reaffirms this growth strategy

Catholic Syrian Bank to increase equity to allow Fairfax on board

Fairfax investment values bank at Rs 23 billion

Catholic Syrian Bank expects to raise funds by December

Kerala-based Catholic Syrian Bank (CSB) hopes to conclude its equity raising exercise by December.T S Anantharaman, chairman, said the second half of the exercise would be concluded by then. CSB needs Rs 400-600 crore, from current growth projections. Sources say SSG Capital Management, InCred Finance, Aion Capital, JM Financial and Everstone-backed Indo Star Capital are among the investors which have shown interest. CSB's MD & CEO C V R Rajendran, managing director of CSB, would only say that 25-30 investors had shown interest and three-odd rounds of discussion were over.On an initial public offer of equity, he said: "We have told the Reserve Bank that CSB will be listed in the next one and a half years."CSB had a net loss of Rs 149 crore in 2015-16 and then turned around in 2016-17, with net profit of Rs 1.6 crore, on the back of treasury gains. Anatharaman said the challenge was to have growth in operating profit this year without the benefit of treasury gain. The operating ...

Catholic Syrian Bank to raise Rs 400 crore capital through QIB

Catholic Syrian Bank (CSB) Board has given permission to raise capital by way of QIB allocating upto 40 million shares to the investors. The Bank which is seeking around Rs 400 crore to fund its growth till March 2019, said the process will be completed by October.The development comes two months after Fairfax calls off CSB investment plan due to valuation issue. The Canadian investor Prem Watsa's Fairfax Financial Holdings, was planning to invest around Rs 1,000 crore in CSB for a 51 per cent stake.Speaking to Business Standard C VR Rajendran, Managing Director & CEO of the Bank said that the Board has given an approval for issue preferential shares by selling upto 40 million shares. The prices will be decided by way of book-building process.Depending upon the price, the Bank may either issue 20 million shares or a little more than that or if the price is good it can go upto 40 million shares also, he added. If the Bank issue all the 40 million shares, it will be 33 per cent ...