CSB Bank shares surge 4% on strong Q4 business growth

CSB Bank shares surged 4% after the lender reported a robust performance in the fourth quarter, with a 21.3% year-on-year (YoY) rise in deposits and a 17.9% YoY increase in gross advances.

The shares were trading over 4% higher, reflecting the bank’s robust quarter-on-quarter (QOQ) business momentum. The bank’s deposits stood at Rs. 29,719 crore, up 21.3% YoY and 8.7% QOQ.

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The current account savings account (CASA) deposits reached Rs. 8,084 crore, rising 2.5% YoY and 7.2% QOQ. Gross advances for CSB Bank grew to Rs. 24,574 crore, marking a 17.9% YoY and a 7.5% QOQ increase.

The bank’s gold loan portfolio also witnessed substantial growth, reaching Rs. 11,817 crore, up 21.9% YoY and 9% QOQ.

The credit-deposit ratio stood at 82.7%, compared to 85.05% YoY and 83.6% QOQ, indicating a healthy lending scenario for the bank.

As of 10:22 AM, CSB Bank shares were trading 3.49% higher at ₹380.60 on the National Stock Exchange (NSE).