Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

CSB Bank - Q2FY21 - Surging Ahead

Posted On: 2020-10-19 05:50:54 (Time Zone: Arizona, USA)


The Board of Directors of CSB Bank took on record the financial results for the quarter ended 30.09.2020 (Q2 FY 2021) which were subject to limited review in their meeting dated 19.10.2020.

Highlights

a) Bank's half yearly Profit After Tax is at a record high of Rs 122.5 Cr with an RoA (annualized) of 1.13% despite having made a healthy provision of Rs. 58.2 Cr for COVID during the half year. PAT is at Rs 68.9 Cr in Q2 of FY 21 as against Rs 24.6 Cr in Q2 FY 20 and Rs 53.6 Cr in Q1 FY 21 with an increase of 179.8% over Q2 FY 20 and 28.5% QoQ. RoE improves from 6.37% to 14.4% on a YoY basis.

b) The Operating Profit of the bank is Rs 301.9 Cr for the half year ended 30.09.2020. Q2FY21 operating profit is at Rs 172.8 Cr as against Rs 63.4 Cr for Q2 FY20 (up by 172.6%) and Q1FY21 figure of Rs 129.1Cr (33.8%).

c) Net Interest Income (NII) for H1FY21 stood at Rs 414.5 cr posting a YoY increase of 48.3%. In Q2 FY 21, the NII stood at Rs 229.2 Cr as against Rs 147.0 Cr in Q2 FY 20 with an absolute growth of Rs 82.20Cr or 56 % & 23.7% QoQ. The improvements in quarterly ratios that supported higher NIM in Q2 FY 21 vis a vis Q2 FY 20 are:

- Yield on Advances - Up from 10.33% to 10.94% (10.74% -Q1 FY 21))
- Cost of Deposits - Down from 5.91% to 5.18% (5.48% -Q1 FY 21)
- NIM - Up from 3.69% to 4.50% (4.06% -Q1 FY 21)
- Yield on investments - Up from 6.52% to 6.74%( 6.64% -Q1 FY 21)

d) Non-Interest Income for H1FY21 stood at Rs 171.9 Cr growing YoY at 103.6%. For Q2FY21 the figure is Rs 97.6 Cr as against Rs 54.2 Cr for the same period as compared to last year - an increase of 80% (Rs 74.3 Cr in Q1 FY 21) with the backing of increased treasury profits, processing fee and PSLC income.

e) Cost Income Ratio: The ratio that was 71.54% for H1FY20 has come down to 48.52% for H1FY21. QoQ it came down from 50.26% to 47.13%.

f) Asset Quality & Provisioning

- Gross NPA decreased from Rs 401 Cr as on 30.06.2020 to Rs 387 Cr as on 30.09.2020. Gross NPA as percentage of advances is at 3.04% as on 30.09.20 where as it was 3.51% & 3.54% respectively on 30.06.20 & 31.03.2020

- Net NPA decreased from 195 Cr as on 30.06.2020 to Rs 164 Cr as on 30.09.2020 - a decrease of 16%. Net NPA as percentage of advances decreased from 1.74% as on 30.06.2020 & 1.91% as on 31.03.2020 to 1.30% as on 30.09.2020

- Provision Coverage improves to 84.24% as on 30.9.2020 from 81.7% as on 30.06.2020 and 80.0% as on 31.03.2020.

g) Capital Adequacy Ratio improves from 18.93% as on 30.06.2020 to 19.69% as on 30.09.2020. Leverage ratio is at 7.52% as on 30.09.2020.

h) Comfortable Liquidity Position. Liquidity Coverage Ratio at 234% which is well above the RBI requirement.

i) Total Deposits grew by 13% YoY and 7% QoQ. CASA ratio stood at 29.4% as on September 30, 2020 as against 28.17% as on September 30, 2019.

j) Advances (Net) grew YoY at 11% and QoQ at 12% Gold Loans grew at 47% YoY and 29% QoQ.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Ircon International Ltd cancels tender awarded to H G Infra Engineering ltd

Central Bank of UAE imposes sanction of Rs. 13.56 crores approx. on Bank of Baroda, GCC Operations

Sangam Renewables Ltd bags multiple solar power EPC projects

IndiGo sends heartfelt gesture to 5000 nominated frontline workers under Tough Cookie campaign

Aarnav Fashions Ltd Q3 net profit at Rs. 0.85 crore

Ganesha Ecosphere Ltd reports Rs. 20.10 crore consolidated PAT in Q3 FY2020-21

RPG Life Sciences Ltd posts higher PAT of Rs. 12.87 crore in Q3FY21

Datamatics wins the Market Research Society of India (MRSI) Golden Key Awards 2020

CRISIL reaffirms ratings of Vardhman Special Steels Limited, revises outlook

UCO Bank announces Financial Results for the Quarter Ended 31st December 2020

Dr. Lalit Kanodia Laureate Award for Technological Excellence 2020 awarded to VTION

Dr. Agarwals Eye Hospital Ltd reports PAT of Rs. 4.43 crore in Q3FY21

Wipro appoints Douglas Silva as Country Head for Brazil

Precision Camshafts Limited receives award from the IPF Industrial Excellence Forum 2021

L&T Q3FY21 consolidated PAT at Rs. 2466.71 crore

ICICI Securities Ltd posts Rs. 267.02 crore consolidated PAT in Q3 FY2020-21

Benares Hotels Ltd Q3 PAT at Rs. 0.54 crore

Navin Fluorine International Ltd Q3FY21 consolidated PAT at Rs. 56.44 crore

CG-VAK Software & Exports Ltd Q3FY21 consolidated PAT climbs to Rs. 1.74 crore

TCS' AI-powered Merchandise Optimization Suite Optumera™ Honored by AIconics Awards

KIFS Financial Services Ltd Q3FY21 PAT at Rs. 0.40 crore

Astec LifeSciences Ltd Q3 consolidated PAT slides to Rs. 7.05 crore

Agro Tech Foods Limited restarts commercial production

CARE maintains rating of TGV SRAAC Ltd

Mahindra Holidays & Resorts India Limited announces results for the quarter ended 31stDecember 2020

Can Fin Homes Ltd Q3 FY2020-21 net profit up at Rs. 131.91 crore

Genus Paper & Boards Ltd Q3FY21 net profit at Rs. 4.15 crore

Chennai Petroleum Corporation Ltd Q3FY21 consolidated loss at Rs. 546.41 crore

Sharda Cropchem Ltd Q3FY21 consolidated PAT jumps to Rs. 48.30 crore

Natural Capsules Ltd reports consolidated PAT of Rs. 1.62 crore in Q3FY21

TGV Sraac Ltd reports lower Q3FY21 net profit of Rs. 9.85 crore

Aarti Drugs Ltd Q3FY21 consolidated PAT drops QoQ to Rs. 68.04 crore

Lakshmi Electrical Control Systems Ltd Q3FY21 net profit at Rs. 0.0875 crore

PG Electroplast Ltd Q3FY21 net profit rises to Rs. 6.49 crore

Kirloskar Ferrous Industries Ltd Q3 net profit jumps to Rs. 118.32 crore

Stylam Industries Ltd reports Rs. 12.46 crore consolidated PAT in Q3FY21

Vinyl Chemicals India Ltd posts Rs. 4.83 crore PAT in Q3 FY2020-21

APL Apollo Tubes Ltd Q3FY21 consolidated PAT higher at Rs. 132.04 crore

Thomas Cook India inks strategic agreement with Destination Maldives

PNC Infratech Limited receives LOAs for Six New Rural Drinking Water Supply Projects on EPC mode for an aggregate value of Rs. 2475.00 crore

Arihant Capital Markets Ltd posts consolidated PAT of Rs. 8.94 crore in Q3FY21

Kotak Mahindra Bank posts Rs. 2575.74 crores consolidated PAT in Q3 FY2020-21

Shri Jagdamba Polymers Ltd Q3 net profit jumps to Rs. 11.35 crore

UCO Bank Q3FY21 PAT at Rs. 35.44 crore

DCW Limited board approves fund raising through warrants

Lupin Receives approval for Sevelamer Carbonate Tablets

Strides receives USFDA approval for Ursodiol Capsules

Kiri Industries Limited starts commercial production of Specialty Intermediates at Vadodara Palnt

Bannari Amman Spinning Mills Ltd board approves stock split, CDR

Padget Electronics to commence manufacturing of Nokia smartphones as HMD Global's manufacturing partners



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020