CSB Bank's Q1 FY25 net profit dropped 14% Y-o-Y to Rs 113 crore due to higher NPA provisions.
CSB Bank reported a 14% Y-o-Y drop in Q1 FY25 net profit to Rs 113 crore, mainly due to a 273% rise in provisions for non-performing assets. The bank's NII fell marginally, while interest expenses increased by 47%. Advances grew 18% Y-o-Y to Rs 24,844 crore, and total deposits increased 22% Y-o-Y to Rs 29,920 crore. Despite these challenges, the bank's non-interest income rose 43% to Rs 172 crore.
July 29, 2024
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