CSB Bank clocks 17.80% yoy growth in gross advances in Q1 FY24

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CSB Bank has reported a 17.80 per cent year-on-year (yoy) growth in gross advances and 22.24 per cent yoy growth in total deposits in the first quarter (Q1) of FY25.

As on June-end 2024, the Thrissur (Kerala) headquartered private sector bank’s gross advances stood at ₹25,099 crore (₹21,307 crore as on June-end 2023), per the Bank’s quarterly business update.

Within gross advances, the advances against Gold & Gold Jewellery (including receivables secured against gold) rose 24.08 per cent yoy to ₹12,487 crore (₹10,064 crore).

As on June-end 2024, the bank’s total deposits stood at ₹29,920 crore (₹24,476 crore).

The share of low-cost current account, savings account (CASA) deposits declined to 24.89 per cent of total deposits as at June-end 2024 against 30.83 per cent as at June-end 2023.