Thrissur: Aided by a decline in bad loans, CSB Bank on Thursday reported a 15.7 per cent increase in net profit at Rs 132 crore in the first quarter of the current financial year.

As per a regulatory filing, the bank posted a net profit of Rs 114 crore in the year-ago period.

The Thrissur-based private lender with a network of over 703 branches across the nation, said its income in the June quarter rose to Rs 805 crore from Rs 591 crore a year ago.

Interest income grew to Rs 683 crore from Rs 536 crore in June 2022.

The major impact on its bottom line was the decline in net non-performing assets (NPAs) or bad loans, which fell to 0.32 per cent as against 0.60 per cent in the year-ago period.

Similarly, the gross NPAs fell to 1.27 per cent of gross advances at the end of the June quarter from 1.79 per cent a year ago.

Provisions for bad loans came down to Rs 14 crore as compared to Rs 16 crore allocated during the same quarter a year ago.

TAGS

Google News Add as a preferred source on Google
Disclaimer: Comments posted here are the sole responsibility of the user and do not reflect the views of Onmanorama. Obscene or offensive remarks against any person, religion, community or nation are punishable under IT rules and may invite legal action.