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CSB Bank conducted a conference call 29 July 2024 to discuss its financial results for the quarter ended July 2024. Satish Gundewar, CFO and BK Diwakara, ED of the bank addressed the call:
Highlights:
The bank has witnessed a sharp decline in the net interest margin to 4.36% in Q1FY2025 due to the impact of the high cost of deposit. The regulatory change on recognizing penal interest rate from interest income line to fee income line has impacted the margins to the extent of 40 bps. .
The bank has continued the policy of high provisioning more than RBI regulatory requirements leading to provisional buffer remaining intact. The bank is holding the provisioning buffer of Rs 182 crore end June 2024.
Deposits increased 22% end June 2024 over June 2023. The CASA ratio of the bank stood at 24.9%.
The gold loan advances moved up 24% end June 2024.
The yield on advanced rose 7 bps yoy to 11.25% in Q1FY2025.
Due to the high proportion of gold loans, th...
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