Powered by: Motilal Oswal
07-03-2023 12:32 PM | Source: Accord Fintech
CSB Bank jumps on reporting 30% rise in gross advances during first quarter of FY24
News By Tags | #413 #5464 #572

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

CSB Bank is currently trading at Rs. 291.70, up by 8.20 points or 2.89% from its previous closing of Rs. 283.50 on the BSE.

The scrip opened at Rs. 289.00 and has touched a high and low of Rs. 295.00 and Rs. 286.10 respectively. So far 20413 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 297.20 on 28-Apr-2023 and a 52 week low of Rs. 188.00 on 05-Jul-2022.

Last one week high and low of the scrip stood at Rs. 295.00 and Rs. 270.00 respectively. The current market cap of the company is Rs. 4999.86 crore.

The promoters holding in the company stood at 49.72%, while Institutions and Non-Institutions held 17.34% and 32.93% respectively.

CSB Bank’s gross advances stood at Rs 21,306.68 crore (provisional) as of June 30, 2023 (Q1FY24), posting a 30.40% rise in year-on-year (YoY) terms against Rs 16,339.01 crore as of June 30, 2022 and in quarter-on-quarter (QoQ) basis stood at Rs 20,841.66 crore as of March 2023. Term deposits grew 28.78% to Rs 16,927.45 crore (provisional) as of June 30, 2023, as compared to Rs 13,144.90 crore on a yearly basis. On a quarterly basis, the deposits stood at Rs 16,619.55 crore as of March 2023. 

Its total deposits stood at Rs 24,475.52 crore (provisional) as of June 30, 2023, posting a 20.77% rise in year-on-year (YoY) terms as against Rs 20,266.77 crore as of June 30, 2022 and on quarter-on-quarter (QoQ) basis, term deposits stood at Rs 24,505.81 crore as of March 2023.
CASA stood at Rs 7,548.08 crore (provisional) as of June 30, 2023, posting a 5.98% rise in year-on-year (YoY) terms against Rs 7,121.88 crore as of June 30, 2022 and in quarter-on-quarter (QoQ) basis stood at Rs 7,886.26 crore as of March 2023. 

CSB Bank is one of the oldest private sector banks in India. Under its SME banking business, the bank caters to financial institutions, agriculture and allied businesses, and vendors and dealers of corporates.