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CSB Bank’s Q2 gold mortgage portfolio up 47% year-on-year to the touch Rs 4,938.98 crore

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Meanwhile, the financial institution reported that its gross advances elevated by 11.92% year-on-years throughout June-September 2020 to the touch Rs 12,761.91 crore.

CSB Bank on Wednesday stated in a regulatory submitting that its gold mortgage portfolio has grown 47% year-on-year to the touch Rs 4,938.98 crore in the course of the second quarter ended September 30, 2020.

During the primary quarter of the present fiscal, the Thrissur-based lender reported gold mortgage advances at Rs 3,843.50 crore.

Meanwhile, the financial institution reported that its gross advances elevated by 11.92% year-on-year throughout June-September 2020 to the touch Rs 12,761.91 crore.

Gold loans accounted for 31 % of the financial institution’s complete advances portfolio of Rs 12,240 crore as on the finish of FY20.

During the second quarter of FY21, complete deposits elevated year-on-year by 12.63% to the touch Rs 17,468.73 crore, through which time period deposits accounted for Rs 12,334 crore.

The lender had reported a internet revenue of Rs 53.56 crore for Q1 of the present fiscal, which is a year-on-year enhance of 174 %.

Kerala-based CSB Bank, previously often known as Catholic Syrian Bank, was listed in 2020 and the financial institution reported a internet revenue of Rs 12.72 crore for FY20, thereby breaking a streak of steady losses.

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