CSB Bank’s stock is making headlines today after announcing its financial results for the third quarter of FY25. The bank has shown impressive growth!
As of December 31, 2024, CSB Bank’s total deposits grew by 22.17% compared to last year, reaching a total of Rs 33,406 crore. This is up from Rs 27,345 crore! A big part of this growth comes from a 28.10% increase in term deposits, which rose to Rs 25,365 crore from Rs 19,802 crore. Additionally, CASA deposits, which are money in savings and current accounts, increased by 6.60%, going up to Rs 8,041 crore.
CSB Bank’s loans also saw a big jump, rising by 26.45% to Rs 28,914 crore, compared to Rs 22,867 crore last year. Loans against gold and gold jewelry shot up by 36.28%, totaling Rs 13,018 crore.
However, despite this growth, the bank’s net profit only grew slightly, by 3.9%, reaching Rs 138.4 crore. This was because the bank had to set aside more money for loans that could go bad. The bank’s net interest margin, which shows how much it earns from loans versus how much it pays on deposits, fell slightly to 4.3%.
The good news? According to Trendlyne, the average target price for CSB Bank’s stock is Rs 400, which means there’s a potential upside of 27% from its current price. Analysts think this stock is a “Strong Buy.”
On Wednesday, CSB Bank’s stock closed at Rs 313.6, while the stock market index, Sensex, went up by 0.47%. Even though the stock has dropped 25% over the past year, it has grown by 32% in the last two years. The bank’s total market value is Rs 5,441 crore.
(Disclaimer: The views and opinions expressed in this article are those of the experts and do not reflect the views of Niftystat.)
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