Biznextindia : Private sector CSB bank has registered a net profit of Rs 415 Crs for the nine months ended 31st August vis a vis a net profit of Rs 391 Crs for the corresponding period last year. Net profit improved by 6% on a YoY basis. Bank continued with its policy of maintaining accelerated loan provisioning during this quarter as well. Net profit for the quarter alone stood at Rs. 150 Crs. The annualized RoA for the nine months ended 31.12.2023 is at 1.78%.
The operating profit for the nine months period ended 31.12.2023 stood at Rs 552 Crs as against Rs 506 Crs for the corresponding previous period registering a growth of 9%. Operating profit of the bank for Q3 FY 2024 stood at Rs 196 Crs with a growth of 12% over the sequential quarter.
Net Interest Income (NII) for 9 months ended 31.12.2023 stood at Rs 1090 Crs posting an increase of 11% YoY. In Q3 FY 24, the NII stood at Rs 383 Crs with an increase of 11% over Q2 FY 24 and 9 % over Q3 FY 23.
Non-Interest Income for Q3 FY 2024 posted a growth of 39% over Q3 FY 2023. Other income for the nine months ended 31.12.2023 stood at Rs 388 Crs as against Rs 190 Crs for nine months ended 31.12.2022 with a whopping 104% increase.
Cost Income Ratio for Q3 FY 24 stood at 61.44% as against 64.09% for Q2 FY 24. Cost income ratio for the nine months ended 31.12.2023 was at 62.66% as against 56.98% as on 31.12.2022 consequent to the investments made in people, technology, distribution etc. keeping the long term growth prospects of the Bank in mind.