CSB Bank’s Q4 FY24 net profit declines 3 per cent to ₹151 crore

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CSB Bank’s fourth quarter net profit declined 3 per cent year-on-year to ₹151 crore from ₹156 crore in the year ago quarter.

The bottomline was weighed down by sharp increase in interest expense and total operating expenditure.

Net interest income increased by 11 per cent to ₹386 crore from ₹348 crore in the year ago quarter.

Total non-interest income jumped 56 per cent to ₹197 crore (₹126 crore).

Pralay Mondal, Managing Director and CEO said, “Despite the challenges posed by the economic conditions, regulatory changes, liquidity constraints, increased competition etc., we got our priorities right and could post reasonably good numbers.

“We could register a (full year) net profit of ₹567 crore (₹547 crore in FY23); backed by a 20 per cent growth in business; 18 per cent net loan book growth and 21 per cent deposit growth.”