Thrissur: Aided by a decline in bad loans, CSB Bank on Thursday reported a 15.7 per cent increase in net profit at Rs 132 crore in the first quarter of the current financial year.
As per a regulatory filing, the bank posted a net profit of Rs 114 crore in the year-ago period.
The Thrissur-based private lender with a network of over 703 branches across the nation, said its income in the June quarter rose to Rs 805 crore from Rs 591 crore a year ago.
Interest income grew to Rs 683 crore from Rs 536 crore in June 2022.
The major impact on its bottom line was the decline in net non-performing assets (NPAs) or bad loans, which fell to 0.32 per cent as against 0.60 per cent in the year-ago period.
Similarly, the gross NPAs fell to 1.27 per cent of gross advances at the end of the June quarter from 1.79 per cent a year ago.
Provisions for bad loans came down to Rs 14 crore as compared to Rs 16 crore allocated during the same quarter a year ago.