Engineered Vision.
Empowered Purpose.
Robust governance framework remains at the core of CSB Bank's institutional strength.
Led by a seasoned and professional Board of Directors, we uphold a resilient governance
framework that fosters trust and reinforces investor confidence. We have also deepened
investors' engagement through transparent disclosures and consistent open dialogue.
Banks are increasingly harnessing AI, machine learning, and hyper automation to deliver
personalised experiences, optimise operations, and fortify risk frameworks. Cybersecurity
has become an area of strategic focus, supported by national policies and Al-powered
threat detection systems designed to counter increasingly sophisticated digital risks.
In FY 2024-25, the Government of India continued its significant reforms aimed at
enhancing governance, improving operational efficiency, and advancing financial inclusion.
These measures are reshaping the structural backbone of Indian banking, fostering a sector
that is not only more resilient and efficient, but also closely aligned with the evolving
imperatives of a future- ready economy. At the same time, the RBI adopted a measured and
supportive monetary policy, reducing the repo rate by 25 basis points each in February and
April 2025, followed by an additional 50 basis point cut in June. This brought the repo
rate down to 5.50%. These calibrated rate reductions were intended to ease borrowing
costs, revive credit appetite, and sustain economic momentum amid moderating inflation and
rising external uncertainty. The RBI's actions reflect a balanced approach to nurturing
growth while maintaining price and financial stability.
The Year Gone By
Reflecting on FY 2024-25, we reached a pivotal phase in our journey to becoming a
full-service, new-age private bank, driven by a clear focus on technological innovation
and strategic transformation.
As outlined at the beginning of my message, a major milestone during the year was the
comprehensive revamp of our technology infrastructure, anchored by the migration to the
Oracle Core Banking System (CBS) and the deployment of multiple integrated surround
systems. Planned and executed over the past 18 months, this foundational shift has
catalysed the enterprise-wide transformation. It has fostered strong cross-functional
collaboration and laid the groundwork for scalable service delivery, enhanced customer
experience, and sharper, data-driven decision-making.
Our branch expansion strategy continues to progress in a calibrated and purposeful
manner. We are steadily growing our physical footprint, ensuring that each addition aligns
with our strategic priorities and operational readiness. In FY 2024-25, we opened 56 new
branches, bringing our total network to 829. This measured expansion reflects our
commitment to building a robust pan-India presence, while systematically reducing
geographic concentration. By integrating a thoughtfully curated branch network with a
strong digital backbone, we are well positioned to accelerate customer acquisition, deepen
engagement, and deliver a full-spectrum financial offering spanning payments, wealth
management, and retail credit.
We have adopted a balanced and forward-looking approach towards asset quality,
combining proactive risk management with prudent conservatism. This philosophy is
exemplified in our decision to adopt and continue with our accelerated provisioning policy
and contingency provisions, not as a reaction to pressure, but as a proactive move to
strengthen risk buffers and fortify our portfolio's resilience. Throughout the year, we
made timely realignments to manage the emerging risks.
We have continued our strategic investment in building a future-ready workforce through
talent development programme, leadership training, and skill enhancement initiatives with
a special trust on compliance and regulatory frameworks, ensuring our workforces are
equipped to execute the Bank's strategic roadmap effectively.
Our Financials
Our financial performance has remained strong, with significant growth across key
business metrics. Deposits increased by T 7,142.68 crore, reaching T 36,861.49 crore
compared to T 29,718.80 crore in the previous financial year. Gross advances rose by T
7,270.23 crore to T 31,841.98 crore as against T 24,571.75 crore in the previous financial
year.
Total income grew by T 1,057.37 crore, totalling T 4,569.20 crore from T 3,511.83 crore
in the corresponding previous year. Interest income increased by T 669.60 crore to T
3,597.14 crore from T 2,927.54 crore, while nontreasury other income rose by T 337.46
crore to T 874.10 crore from T 536.64 crore.
The Bank's total operating profit improved by T 130.32 crore, reaching T 910.24 crore
from T 779.92 crore, and net profit increased by T 26.98 crore to T 593.80 crore from T
566.82 crore. Our net interest margin remained strong at 4.13% despite the higher interest
rate cost looming in the system.
The capital adequacy ratio stood at 22.46%, slightly lower than the previous year's
24.47%. As on March 31, 2025, Return on assets was at 1.53% (1.79% in FY 2023-24), Return
on equity at 15.44% (17.37% in FY 2023-24), Gross NPA at 1.57% (1.47% in FY 2023-24) and
Net NPA at 0.52% from 0.51% in FY 2023-24.
Championing Sustainability and Responsible Growth
The world is in a climate emergency. Unless greenhouse gas emissions are reduced
drastically, global temperatures could rise by as much as 2.9?C thiscentury - a
trajectory that would have catastrophic consequences for all life on Earth. As a
responsible financial institution, we acknowledge the gravity of this crisis and are
firmly committed to playing our part in driving environmental stewardship and supporting
the global transition to a low-carbon future.
Our ESG framework is proactive, and impact-driven. We are working to significantly
reduce our carbon footprint, promote diversity and inclusion, and uphold the highest
standards of ethical conduct. These guiding principles are firmly embedded into our
organisational culture and influence decision-making at every level. We are actively
supporting renewable energy projects and are committed to phasing out financing for
high-emission, pollutant industries. Our objective is to play a catalytic role in the
global push towards decarbonisation, aligning our financial practices with the imperatives
of a sustainable, low-carbon future.
Our social impact strategy remains strong and focussed. We continue to support
initiatives that uplift underserved communities, with a special focus on activities that
come under education, healthcare, and gender equality. Notably, through our partnership
with Fairfax India Charitable Foundation Trust under the programme ‘Project
Dialysis', we deliver affordable, high-quality dialysis services across India, especially
to underserved regions where dialysis infrastructure is either limited or nonexistent.
With dedicated funding and a growing CSR portfolio year by year, we aim to create
long-lasting value and promote inclusive development across India.
Robust governance framework remains at the core of CSB Bank's institutional strength.
Led by a seasoned and professional Board of Directors and its sub-committees,we uphold a
resilient governance framework that fosters trust and reinforces investor confidence.
We have also deepened investors' engagement through transparent disclosures and
consistent open dialogue.
By embedding ESG principles into our strategic actions, we are not only responding to
present-day imperatives but also contributing to the foundation of a sustainable and
inclusive tomorrow. It is this commitment to responsible growth, grounded in integrity and
vision, that defines who we are and sets us apart.
Future Roadmap
As we look ahead, CSB Bank is poised to enter the ‘Scale' phase of its strategic
roadmap beginning in FY 2026-27, a pivotal milestone in our transformation journey. In the
current financial year, our focus remains on reinforcing and consolidating the initiatives
successfully executed during the Build phase, ensuring they are well-positioned to support
the next stage of growth.
Our business model is evolving to deliver seamless, need-based solutions through
integrated channels, aimed at deepening customer relationships across retail, MSME, and
wholesale segments. This unified approach enhances customer experience, improves
operational efficiency and strengthens key return metrics by unlocking synergies across
our portfolio. Our continued commitment to technological innovation and strategic
execution will be key enablers as we move forward.
With disciplined focus on profitability, top-line momentum of growth, and consistent
improvement in earnings per share (EPS), CSB Bank is strongly placed to strengthen its
market presence and deliver enhanced value to shareholders. We are confident that, through
our focussed strategy,
CSB Bank will emerge as a respected mid-sized institution by 2030 and definitely create
enduring value for all shareholders.
Thanking Note
I wish to take a moment to express my heartfelt gratitude to everyone who has been a
part of our journey: our loyal investors, customers, committed associates, trusted
partners, and all our well-wishers. Your enduring trust has been both humbling and deeply
motivating. We are especially grateful to Reserve Bank of India (RBI), the Securities and
Exchange Board of India (SEBI), Ministry of Corporate Affairs (MCA), the Stock Exchanges,
and the Central and State Governments for their unwavering support and regulatory
stewardship, which have played a pivotal role in guiding us towards progress.
A special salute to our senior leadership team, led by Managing Director & CEO, Mr.
Pralay Mondal whose sharp vision and flawless execution has steered us towards consistent
success and growth. A big thank you to each CSB family member whose passion, resilience,
and relentless pursuit of excellence have been the driving force behind our momentum. You
have helped us script a chapter defined by purpose, performance, and pride.
We step into the future with confidence and optimism, inspired by your belief in us.
Thank you for walking this path together.
Warm regards,
Biswamohan Mahapatra
Chairperson