Bank’s income rose to Rs991crore from Rs762 crore a year ago
Kochi: Thrissur-based private sector lender CSB Bank reported a 3 per cent decline in its net profit to Rs151 crore for the fourth quarter ended March 2024, mainly due to a rise in bad loans.
The bank had earned a net profit of Rs156 crore in the year-ago period.
During the quarter, the bank’s total income increased to Rs991 crore against Rs762 crore a year ago, CSB Bank said in a regulatory filing.
The interest income grew to Rs795 crore during the period under review from Rs636 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 Rs29 crore compared to Rs3 crore in the same quarter a year ago.
