01-01-1970 12:00 AM | Source: Motilal Oswal Financial Services Ltd
Update on CSB Bank Ltd By Motilal Oswal Financial Services
News By Tags | #5211 #5464 #4315

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


Download Telegram App before Joining the Channel

Loan growth healthy; CASA ratio moderates sequentially

CSBBANK released its quarterly business update highlighting the 2QFY23 trends. It reported a healthy loan growth while deposit growth was relatively modest. Below are the key takeaways:

* Gross advances grew strongly at 23.6% YoY and 8.1% QoQ to INR176.6b, led by a strong growth in Gold loans, which rose 47.5% YoY and 13.1% QoQ. Growth in gross advances, excluding Gold loans, was modest at 8.9% YoY (4.3% QoQ). The share of Gold loans in the total mix thus increased 200bp QoQ to 45.5%.

* Deposits grew at a modest 10.1% YoY (+3.6% QoQ) to INR209.9b driven by term deposits, which rose 7.4% YoY (+4.9 QoQ). However, growth in CASA deposits was modest at 15.9% YoY (+1% QoQ). Consequently, the CASA ratio moderated 87bp QoQ to 34.3%.

* Disbursement in the Gold loans portfolio continued to remain strong, which supported the overall loan growth, while other segments reported modest trends. Growth in deposits was modest adversely impacted by slightly weak trends in garnering CASA deposits.


To Read Complete Report & Disclaimer Click Here


For More Motilal Oswal Securities Ltd Disclaimer http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html SEBI Registration number is INH000000412


Above views are of the author and not of the website kindly read disclaimer