Buy CSB Bank; target of Rs 300: ICICI Direct
ICICI Direct is bullish on CSB Bank recommended buy rating on the stock with a target price of Rs 300 in its research report dated January 31, 2023.02-02-2023
02-02-2023
CSB Bank Ltd - 542867 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation for Loss of Original Share Certificates31-01-2023
CSB Bank Ltd - 542867 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Submission of Newspaper publication of the Unaudited Financial Results for the quarter ended December 31, 2022.31-01-2023
CSB Bank net inches up 5%; gold loans share over 45% of total assets
The Kerala-based mid-sized lender CSB Bank (formerly Catholic Syrian Bank) on Monday reported a muted 5 per cent growth in net profit to Rs 156 crore despite record margins and a 26 per cent rise in advances for the quarter to December. Led by a hefty 51 per cent jump in gold loans, its total advances grew 26 per cent to Rs 18,456.70 crore, while deposits rose 19 per cent to Rs 22,664 crore. CSB Bank has over 45 per cent of its assets in gold loans. During the reporting quarter, its gold loan book soared 51 per cent to Rs 8,780.30 crore from Rs 5,825.50 crore a year ago, the company said. It's very high gold loan exposure, which works out to be 45.4 per cent of its overall loan assets, giving the lender an industry high 5.8 per cent net interest margin (up marginally on-year), which the managing director and Pralay Mondal said is not sustainable as the bank will have to offer better pricing to its depositors going forward. This record high margin pushed up its core net interest in30-01-2023
CSB Bank Ltd - 542867 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Conference call for Institutional Investors/Analyst dated January 30, 2023 - Audio recordings of the conference call30-01-2023
CSB Bank Ltd - 542867 - Appointment Of Secretarial Auditors For The FY 2022-23.
Appointment of Secretarial Auditors for the FY 2022-23.30-01-2023
Q3FY23 Quarterly Result Announced for CSB Bank Ltd.
CSB Bank announced Q3FY23 results: Q3FY23 & 9MFY23: Profit After-tax: Bank recorded a net profit of Rs 391 crore during the nine months ended Q3FY23 vs a profit of Rs 328 crore for the same period last year. Net profit improved by 19% on a YoY basis. The entire outstanding Security Receipts balance as on Q3FY23 has been fully provided for. The annualized RoA improved from 1.83% to 2.00% YoY for the nine months ended 9MFY23. Strong Operating Performance: Q3FY23 operating profit of bank is Rs 193 crore as against Rs 148 crore during Q3FY22 – the YoY growth being 31%. The operating profit for the nine months ended Q3FY23 stood at Rs 506 crore as against Rs 472 crore for the corresponding previous period- up by 7%. Net Interest Income (NII) for 9 months ended 9MFY23 stood at Rs 985 crore posting an increase of 16% YoY. In Q3FY23, the NII stood at Rs 350 crore as against Rs 303 crore in Q3FY22 with an increase of 15%. Non-Interest Income ex treasury for Q3FY23 posted a growth of 65% over Q3FY22 mainly due to increase in processing fees and other fee income. Other income for the nine months ended Q3FY23 stood at Rs 195 crore (PSLC income: Rs 4 crore) as against Rs 170 crore (PSLC income: Rs 33 crore) for nine months ended 9MFY23. Cost Income Ratio for Q3FY 23 stood at 56.00% as against 57.46% for Q2FY23. Cost income ratio for the nine months ended Q3FY23 was at 56.98% as against 54.33% as on 9MFY23. The impact was majorly created by HR expansion (1516 Nos), Lower PSLC income (impact-Rs 30 crore) and Treasury Profits (impact-Rs 18 crore including SR w/o). Healthy Asset Quality & Provisioning Gross NPA and Net NPA ratios have improved to 1.45% and 0.42% as on Q3FY23 over the previous quarters. PCR continues to be above 90%. Comfortable Liquidity Position - Liquidity Coverage Ratio is comfortable at 124% Total Deposits grew by 19% YoY. The CASA book grew from Rs 6,587 crore to Rs 7,126 crore YoY (Up by 8%). The CASA ratio stood at 31.44% as on Q3FY23. Advances (Net) grew by 26% YoY to Rs 18,457 crore as on Q3FY23 with gold loan portfolio powering the growth at 51% YoY. Speaking about the performance Mr. Pralay Mondal, Managing Director & CEO said, “Though global economy is marred with uncertainties, Indian financial system is resilient, robust and stable. Bank credit is growing in double digits for 9 months now. It gives us great pleasure to announce that we could outperform the industry trends in terms of both deposits and advances growth and record strong bottom line numbers. Our bank has achieved another milestone, with the business numbers crossing Rs 40,000 crore, Rs 42,006 crore to be exact contributed by the loan book growth of 26% YoY coupled with the 19% deposit growth. In terms of profitability, despite the lower treasury profits/PSLC income, SR write offs etc, the Q3FY23 operating profit recorded a growth of 31% supported by growth in NII and other income. The key indicators like NIM, CRAR, RoA, NPA ratios etc continue to be strong. In the coming quarter while leveraging our core competencies in the gold loan business, we will put in more focus to grow the retail segment, both the retail liabilities and assets (other than gold) - with various new/revamped products and process improvements happening and proposed. We believe that with the new credit card launch in partnership with One Card, we will be able to further penetrate into the retail segment. We are perfecting the retail structure with the right manpower, policy roll outs, technology, collection framework, partnership tie ups etc. While all these will take some time to mature, we are already into business for segments like Personal Loans, Education Loans, Auto Loans, Commercial Vehicle etc SME & Corporate focus will continue with due caution. Boosting the fee income is in the top priority list. A new transaction banking vertical has been set up towards focusing on the trade and forex income. Bank has launched two new trade forex current account variants as well. With all these falling in place, we look forward to improve upon our performance in both the topline as well as bottom line parameters in the coming quarters. Result PDF30-01-2023
CSB Bank Ltd - 542867 - Announcement under Regulation 30 (LODR)-Investor Presentation
Press Release and Presentation to Institutional Investors/Analyst - Unaudited Financial Results for the quarter ended December 31, 202230-01-2023
CSB Bank Ltd - 542867 - Submission Of Unaudited Financial Results And Limited Review Report Thereon, For The Quarter Ended December 31, 2022
Submission of Unaudited Financial Results and Limited Review Report thereon, for the quarter ended December 31, 202230-01-2023
CSB Bank Ltd - 542867 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of conference call for Institutional Investors/Analyst - Financial Results for the quarter ended December 31, 202224-01-2023