Q1FY22 Result Update - CSB Bank - ICICI Direct

Gold portfolio saw stress while business growth was stunted.

- Loans YoY up 23%, deposits up 14% YoY. Sequential business growth decline was due to lockdown

- NII up 44% YoY, NIM down 28 bps QoQ at 5.1%, C/I down QoQ to 48%

- GNPA up 220 bps to 4.88%, led by gold loans. R/s book at 0.48% of loans

Key triggers for future price performance

- Strong recovery in gold & MSME loans expected as unlocking progresses

- Multiple levers available to enhance return ratio profile

- Healthy recovery with minimum loss given default expected in gold loan

For details, click on the link below: Link to the report

Source : Equity Bulls

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