CSB Bank on Wednesday said in a regulatory filing that its gold loan portfolio has grown 47% year-on-year to touch Rs 4,938.98 crore during the second quarter ended September 30, 2020.
During the first quarter of the current fiscal, the Thrissur-based lender reported gold loan advances at Rs 3,843.50 crore.
Meanwhile, the bank reported that its gross advances increased by 11.92% year-on-year during June-September 2020 to touch Rs 12,761.91 crore.
Gold loans accounted for 31 % of the bank’s total advances portfolio of Rs 12,240 crore as at the end of FY20.
During the second quarter of FY21, total deposits increased year-on-year by 12.63% to touch Rs 17,468.73 crore, in which term deposits accounted for Rs 12,334 crore.
The lender had reported a net profit of Rs 53.56 crore for Q1 of the current fiscal, which is a year-on-year increase of 174 %.
Kerala-based CSB Bank, formerly known as Catholic Syrian Bank, was listed in 2020 and the bank reported a net profit of Rs 12.72 crore for FY20, thereby breaking a streak of continuous losses.
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