CSB Bank’s gold loan portfolio has slowed down in the fourth quarter while overall business has picked up, the bank said in a regulatory filing.
The Thrissur-based lender has reported that its deposits have increased by 21.2% year-on-year (y-o-y) during the fourth quarter, while advances saw an increase of 26.7% for the same period. CSB Bank had earlier reported that it expects its advances to grow by 20-22% this fiscal despite a slowdown in the gold loan growth.
The lender has reported that its deposits stand at Rs 19,140 crore as on March 31, 2021, while CASA stands at Rs 6,161.80 crore and term deposits at Rs 12,978.24 crore.
CSB’s gold loan portfolio has increased 61.05% y-o-y during the last quarter to touch Rs 6,121.34 crore. Sequentially, the gold loan portfolio has only increased by 8.65 % from Rs 5,633.75 crore reported in the third quarter of the current fiscal.
The bank reported a 89% y-o-y increase in its third quarter net profits to Rs 53.05 crore on higher interest and treasury income. The 101-year-old bank opened 101 branches in FY21.
