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Tag: gross advances

  • CSB Bank clocks 17.80% yoy growth in gross advances in Q1 FY24

    CSB Bank clocks 17.80% yoy growth in gross advances in Q1 FY24

    CSB Bank has reported a 17.80 per cent year-on-year (yoy) growth in gross advances and 22.24 per cent yoy growth in total deposits in the first quarter (Q1) of FY25.

    As on June-end 2024, the Thrissur (Kerala) headquartered private sector bank’s gross advances stood at ₹25,099 crore (₹21,307 crore as on June-end 2023), per the Bank’s quarterly business update.

    Within gross advances, the advances against Gold & Gold Jewellery (including receivables secured against gold) rose 24.08 per cent yoy to ₹12,487 crore (₹10,064 crore).

    As on June-end 2024, the bank’s total deposits stood at ₹29,920 crore (₹24,476 crore).

    The share of low-cost current account, savings account (CASA) deposits declined to 24.89 per cent of total deposits as at June-end 2024 against 30.83 per cent as at June-end 2023.

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  • Bank of Maharashtra reports 30% y-o-y growth in gross advances

    Bank of Maharashtra reports 30% y-o-y growth in gross advances

    Bank of Maharashtra’s total deposits and gross advances increased by 15.72 per cent and 29.59 per cent, respectively, year-on-year (y-o-y) as at March-end 2023, with its total business crossing the ₹4-lakh-crore mark.

    As at March-end 2023, total deposits and gross advances stood at ₹2,34,092 crore (₹2,02,294 crore as at March-end 2022) and ₹1,75,255 crore ( ₹1,35,240 crore), respectively, as per the public sector bank’s quarter-end provisional business update.

    As at March-end 2023, total business (total deposits plus gross advances) stood at ₹4,09,347 crore (₹3,37,534 crore).

    The proportion of low-cost current account, savings account (CASA) deposits came down to 53.39 per cent of total deposits as at March-end 2023 against 57.85 per cent per cent as at March-end 2022. However, the proportion of CASA improved as at March-end 2023 vis-a-vis 52.50 per cent as at December-end 2022.

    Credit-deposit ratio improved to 74.87 per cent against 66.85 per cent as at March-end 2022.

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  • Karnataka Bank’s gross advances grow by 12.37% in Q3

    Karnataka Bank’s gross advances grow by 12.37% in Q3

    The provisional business numbers of Karnataka Bank for the third quarter of 2022-23 have shown a growth of 12.37 per cent in terms of gross advances.

    This was revealed by Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, at the regional heads’ review conference in Mangaluru on Monday.

    Sharing the provisional business numbers for Q3 of FY23, he said gross advances have grown at a satisfactory rate of 12.37 per cent. The gross advances of the bank increased to ₹63,658.59 crore during third quarter of 2022-23 against ₹56,651.67 crore in the corresponding period of 2021-22, recording a growth of 12.37 per cent.

    He said the share of CASA (current account savings account) stood at 31.91 per cent during the third quarter of 2022-23, and the core deposits of the bank stood at ₹84,592.60 crore.

    customer-centric approach

    “While focusing on quality credit augmentation, resource mobilisation under CASA and retail term deposits, NPA and stress management, consolidating other income streams, etc., let us further strive to improve the overall digital adoption to emerge as the ‘digital bank’ with our continued customer-centric approach,” he said.

    “We should continue our good performance and reach a new high by creating new benchmarks of performances, while stepping into the bank’s Centenary Year. This will be a tribute to the founding fathers of this great institution, who had a vision of bringing up the bank to the present position of being a socially committed thriving business entity,” Mahabaleshwara said.

    BL Mangaluru Bureau

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