CSB Bank Reports 17.8% Jump In Gross Advances In June Quarter

CSB Bank Ltd.'s gross advances saw a 17.8% jump on a yearly basis to Rs 25,099 crore in the April–June quarter.

The bank reported a 22.2% advance in deposits at Rs 29,920 crore in the first quarter, as compared to Rs 24,476 crore in the same period last year, according to provisional quarterly business updates filed with stock exchanges on Monday.

CASA ratio—the proportion of deposits that come from low-cost current and savings accounts—dipped to 24.89% from 30.83% in the year ago period. A lower CASA ratio indicates that the bank relies heavily on costlier wholesale funding, this can hurt the bank's margin.

The advances against gold and gold jewellery for the quarter was 24.08% higher at Rs 12,487 crore, in comparison to Rs 10,064 crore in the year ago period.

Shares of CSB Bank closed 0.77% lower at Rs 375.25 per share on Monday. This compares to a 0.47% advance in the NSE Nifty 50.