The portfolio of CSB bank has slowed down in the fourth quarter which has led overall business to pick up, said by the bank in a regulatory filing.
The lender that is based on Thrissur by 21.2% year-on-year during the fourth quarter, where on the other hand advances have been increased by 26.7% for the same period. It was earlier reported that CSB Bank expects an advance growth by 20% to 22% this fiscal despite a slowdown in the gold loan growth.
It has been reported by the lender that the deposits stand at INR 19,140 crore as on March 31st of 2021, while the deposits of CASA stands at INR 12,978.24 crore.
The gold loan portfolio of CSB bank has increased by a rate of 61.05% year-on-year to touch INR 6,121.34 crore during the last quarter. Sequentially, the portfolio of gold loan has only been increased by the rate of 8.5% from INR 5,633.75 crore as it has been reported in the third quarter of the current fiscal.
It has been reported by the bank that an increase of 89% y-o-y has been seen in the third quarter that has a net profit which amounts to INR 53.05 crore on a higher interest rate and treasury income. The 101 year old bank has been able to open 101 different branches in the financial year 21.