2 days Ago
Private lender CSB Bank 's shares are in focus on Thursday following its Q3 FY25 financial update, which showed robust growth. Total deposits rose by 22.17% year-on-year (YoY) to Rs 33,406 crore as of December 31, 2024, compared to Rs 27,345 crore in the same period last year.
This growth was primarily driven by a 28.10% YoY rise in term deposits to Rs 25,365 crore from Rs 19,802 crore. CASA deposits also increased by 6.
60% YoY to Rs 8,041 crore, up from Rs 7,543 crore in the previous year. Gross advances jumped 26.45% YoY to Rs 28,914 crore from Rs 22,867 crore a year earlier.
Advances against gold and gold jewellery (excluding receivables secured against gold) rose significantly, registering a 36.28% YoY increase to Rs 13,018 crore from Rs 9,553 crore. Also Read: A 10% decline and yet India’s more expensive than EM peers Meanwhile, in the second quarter of FY25, CSB Bank reported a slim 3.
9% rise in net profit to Rs 138.4 crore, compared to Rs 133.2 crore in the same period last year, due to higher provisions.
The bank's net interest margin for the quarter was 54 basis points lower at 4.3% compared to 4.84% in the corresponding period last year.
Stock Trading Masterclass on Value Investing and Company Valuation By - The Economic Times, Get Certified By India's Top Business News Brand View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Dow Theory Made Easy By - Vishal Mehta, Independent Systematic Trader View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder- Indiacharts.
com View Program Stock Trading ROC Made Easy: Master Course for ROC Stock Indicator By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Heikin Ashi Trading Tactics: Master the Art of Trading By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program The bank's operating profit was nearly 15% higher YoY at Rs 200.4 crore, backed by a 28% rise in total income to Rs 1,064 crore. Net interest income, however, was only 7% higher at Rs 367 crore.
According to Trendlyne data, the average target price of the stock is Rs 400, indicating an upside of 27% from the current market price. The consensus recommendation from two analysts for the stock is a 'Strong Buy.' Also Read: Volatile Times: Don't let profits fool you, track margins, too On Wednesday, CSB Bank's shares closed flat at Rs 313.
6 on the BSE, while the benchmark Sensex rose by 0.47%. Over the past 12 months, the stock has declined by 25%, but it has surged 32% in the last two years.
The company’s market capitalization stands at Rs 5,441 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
