CSB Bank (CSBBANK) Q4 11/12 earnings summary

Executive summary

• FY12 deposits grew 21.54% and advances 23.21%; total business reached ₹18,268.41 crore, while net profit rose to ₹25.90 crore.

• Growth came amid slow economic activity, tight liquidity, higher interest rates and increased delinquency across the banking sector.

Financial highlights

• Net interest income was ₹307.03 crore versus ₹248.15 crore; operating profit reached ₹93.50 crore versus ₹33.62 crore.

• Net profit was ₹25.90 crore versus ₹12.18 crore; EPS was ₹8.25 versus ₹4.65.

• Total income was ₹1,160.87 crore versus ₹836.64 crore; interest earned was ₹1,075.63 crore versus ₹762.13 crore.

• Total assets grew to ₹12,047.07 crore from ₹9,829.07 crore; gross business was ₹18,372.56 crore in the performance table.

Outlook and guidance

• Corporate Mission 2015 sets targets for FY15; strategy emphasizes growth, customer service, asset quality, low-cost deposits and branch expansion.

• Management plans to strengthen capital to support growth and shareholder returns; the chairman expressed confidence in the five-year growth trajectory.

• More technology investment is expected for data-centre capacity, disaster recovery, security, channel integration and business intelligence tools.