CSB Bank stock up 7% on steady growth in advances, total deposits in Q1FY25 | News on Markets

Shares of CSB Bank surged up to 7.2% to Rs 402 per share on the BSE during Tuesday’s intraday trade following the announcement of a 17.8% year-on-year growth in gross advances to Rs 25,099 crore for the first quarter of fiscal year 2024-25 (Q1FY25). The bank’s total deposits also saw a significant increase of 22.2% to Rs 29,920 crore in Q1FY25.

Despite the overall growth, CASA deposits experienced a slight decline of 1.3% in the June quarter. Conversely, term deposits rose by 32.7% to Rs 22,471 crore, and advances against gold and gold jewellery increased by 24% to Rs 12,487 crore during the same quarter.

CSB Bank operates primarily in four business areas: SME banking, retail banking, corporate banking, and treasury operations. In Q4FY24, the bank reported a 3.1% decline in net profit to Rs 151.46 crore, with total income surging by 30% year-on-year to Rs 991.38 crore.

With a total market cap of Rs 6,689 crore, the bank is currently trading at a price-to-earnings multiple of 11.49 and an earnings per share of Rs 32.67. The stock price of the company has increased by 11.43% in the last month and by 31.9% in the last year.

At 12:37 PM, the stock of CSB Bank was trading 1.98% higher at Rs 382.85 per share on the BSE, while the BSE Sensex was down marginally by 0.08% at 79,540 levels.