Mondal to continue as interim MD
BBN Bureau
THRISSUR/July 04-2022: Gold loans and gold-related lending continue to drive the growth of the Thrissur-based CSB Bank with such loans accounting for 43.5 per cent of the bank’s total loan book as of June end, 2022.
As per the numbers released by the bank, while the total advances grew by 16.16 per cent during the past one year until June 30, 2022, from Rs14,060 crore to Rs16,333 crore, the gold loan book alone grew by a handsome 26.37 per cent during the said period, from Rs5,617.68 crore to Rs7099.33 crore.
To put it in perspective, while the bank’s loan book expanded by Rs2272.71 crore during the past one year ending June 30, a big chunk of the growth at Rs1482 crore or more than 65 per cent of the loan growth, has been contributed by gold loan book.
During the said period, the bank’s deposits grew by 8.65 perc cent – from Rs18,652.80 crore to Rs20,266.77 crore, whereas the CASA deposit part witnessed a smart growth of 15.32 per cent, from Rs6,171.71 crore to Rs7,117.14 crore, forming now 35.12 per cent of the total deposits.
Mondal to continue as interim MD
Meanwhile, the Reserve Bank of India (RBI) has vide its letter dated June 29, 2022, conveyed its approval for extension of the term of appointment of Pralay Mondal, Deputy Managing Director, as interim Managing Director & CEO of CSB Bank, for a further period of three months with effect from July 1, 2022, or till the appointment of a regular Managing Director & CEO in the bank, whichever is earlier.
