CSB Bank reports PAT at Rs68.9cr in Q2FY21

CSB Bank reports PAT at Rs68.9cr in Q2FY21

The operating profit of the Bank is Rs301.9cr for the half-year ended September 30, 2020. Q2FY21 operating profit is at Rs172.8cr.

CSB Bank recorded half yearly Profit After Tax at a record high of Rs122.5cr with an RoA (annualized) of 1.13% despite having made a healthy provision of Rs58.2cr for Covid-19 during the half year. PAT in the financial results for Q2FY21 is at Rs68.9cr as against Rs24.6cr in Q2FY20 and Rs53.6cr in Q1FY21 with an increase of 179.8% over Q2FY20 and 28.5% qoq. RoE improves from 6.37% to 14.4% on a yoy basis.

The operating profit of the Bank is Rs301.9cr for the half year ended September 30, 2020. Q2FY21 operating profit is at Rs172.8cr as against Rs63.4cr for Q2FY20 (up by 172.6%) and Q1FY21 figure of Rs129.1cr (33.8%).

Net Interest Income (NII) for H1FY21 stood at Rs414.5cr posting a yoy increase of 48.3%. In Q2FY21, the NII stood at Rs229.2cr as against Rs147.0cr in Q2 FY 20 with an absolute growth of Rs82.20cr or 56 % & 23.7% qoq.

Gross NPA decreased from Rs401cr as on September 30, 2020 to Rs387cr as on September 30, 2020. Gross NPA as percentage of advances is at 3.04% as on September 30, 2020 where as it was 3.51% & 3.54% respectively on June 30, 2020 & March 31, 2020.

Net NPA decreased from Rs195cr as on June 30, 2020 to Rs164cr as on September 30, 2020 – a decrease of 16%. Net NPA as percentage of advances decreased from 1.74% as on June 30, 2020 & 1.91% as on March 31, 2020 to 1.30% as on September 30, 2020.

The company’s liquidity coverage ratio at 234% which is well above the RBI requirement. Total deposits grew by 13% yoy and 7% qoq. CASA ratio stood at 29.4% as on September 30, 2020 as against 28.17% as on September 30, 2019. Advances (Net) grew yoy at 11% and qoq at 12%, Gold Loans grew at 47% yoy and 29% qoq.