Latest news with #CSBBank
Business Standard
3 days ago
- Business
- Business Standard
CSB Bank gets RBI nod to reappoint Pralay Mondal as MD & CEO till 2028
CSB Bank announced that Reserve Bank of India (RBI) has approved the reappointment of Pralay Mondal as managing director (MD) & CEO of the bank for a period of three years with effect from 15 September 2025. The bank will now seek shareholder approval for the reappointment within the timeframe mandated under the Companies Act, 2013, and SEBI Listing Regulations. Pralay Mondal joined CSB Bank in September 2020 after serving as the head of retail banking at Axis Bank. At CSB, he initially took on the role of President overseeing retail, SME, operations, and IT, before being promoted to Deputy Managing Director in February 2022. Pralay had been the Banks interim MD and CEO since April 2022. He has earlier worked with companies like Yes Bank, HDFC Bank, Standard Chartered Bank, Wipro InfoTech and Colgate Palmolive. CSB Bank is an old private sector bank with a history of over 100 years and operates 829 branches as on 31 March 2025. The business is concentrated in Kerala with the remaining spread across Tamil Nadu, Andhra, Karnataka, and Maharashtra. The banks standalone net profit jumped 25.7% to Rs 190.44 crore on 37.4% rise in revenue form operations to Rs 1,362.36 crore in Q4 FY25 over Q4 FY24. Shares of CSB Bank fell 1.26% to Rs 384.05 on the BSE.
Business Standard
21-05-2025
- Business
- Business Standard
Crisil Ratings reaffirms ratings of CSB Bank at 'A/A1+' with 'stable' outlook
CSB Bank said that Crisil Ratings has reaffirmed its 'Crisil A/Stable/Crisil A1+' ratings on the debt instruments of the bank. Crisil Ratings stated that the ratings continue to reflect the healthy capitalisation levels along with the commitment of support from Fairfax, in case of exigency and stable deposit profile. These strengths are partially offset by the modest earnings profile and limited track record in the new non-gold loan book, as well as modest scale of overall operations. The agency further said that factors like substantial scale-up of operations with return on average total assets of around 1.75% on a sustained basis and track record of profitably scaling up non-gold loan book could lead to ratings upgrade. However, factors that could result in an adverse rating acion include deterioration in asset quality, as seen in GNPAs increasing to beyond 5% and translating into pressure on earnings and capitalisation metrics, any pressure on the deposit profile with deposit outflows and weakening of capital position with significant deterioration in the CET 1 ratio. CSB Bank is an old private sector bank with a history of over 100 years and operates 829 branches as on 31 March 2025. The business is concentrated in Kerala with the remaining spread across Tamil Nadu, Andhra, Karnataka, and Maharashtra. The bank has reported a 4.8% rise in net profit to Rs 594 crore on a 18.9% increase in total income (net of interest expenses) to Rs 2,448 crore in FY25 as compared with FY24. The scrip rose 0.55% to currently trade at Rs 356.15 on the BSE.
Business Standard
05-05-2025
- Business
- Business Standard
CSB Bank undertakes upgradation of its core banking system
CSB Bank is migrating its Core Banking System (CBS) to a new platform viz. Oracle Flexcube'. The migration activity is scheduled between 9.00 P.M. (IST) on 09 May 2025, and 10.00 A.M. (IST) on 11 May 2025. The Bank added, "During this period, all our banking services, including ATM, Net Banking, Mobile Banking, Cards, and UPI services will not be available. The Bank has sent appropriate communications to all its customers about the downtime through various channels so that customers may plan their transactions in advance to avoid any inconvenience. "Powered by Capital Market - Live News
Business Standard
28-04-2025
- Business
- Business Standard
CSB Bank standalone net profit rises 25.74% in the March 2025 quarter
Total Operating Income rise 23.40% to Rs 980.89 crore Net profit of CSB Bank rose 25.74% to Rs 190.44 crore in the quarter ended March 2025 as against Rs 151.46 crore during the previous quarter ended March 2024. Total Operating Income rose 23.40% to Rs 980.89 crore in the quarter ended March 2025 as against Rs 794.87 crore during the previous quarter ended March 2024. For the full year,net profit rose 4.76% to Rs 593.80 crore in the year ended March 2025 as against Rs 566.82 crore during the previous year ended March 2024. Total Operating Income rose 22.87% to Rs 3597.14 crore in the year ended March 2025 as against Rs 2927.54 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Total Operating Income 980.89794.87 23 3597.142927.54 23 OPM % 49.4152.68 - 54.1755.62 - PBDT 256.54206.40 24 799.53761.44 5 PBT 256.54206.40 24 799.53761.44 5 NP 190.44151.46 26 593.80566.82 5
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Business Standard
28-04-2025
- Business
- Business Standard
CSB Bank Q4 results: Net profit increases 26% to Rs 190 cr, GNPA rises
Private sector lender CSB Bank on Monday reported a 26 per cent rise in its net profit to Rs 190 crore for the fourth quarter ended in March 2025. The Kerala-based lender had earned a net profit of Rs 151 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 1,362 crore against Rs 991 crore a year ago, CSB Bank said in a regulatory filing. Asset quality of the bank deteriorated marginally with gross non-performing assets rising to 1.57 per cent of gross advances as of March 31, 2025, from 1.47 per cent at the end of March 2024. Net NPAs also rose to 0.52 per cent of the advances from 0.51 per cent at the end of 2024. As a result, provisions and contingencies rose significantly to Rs 60 crore compared to Rs 22 crore in the same quarter a year ago.
