Loan against gold and gold jewellery stood at Rs5,441.44 crore at the end of September quarter compared to Rs5,617.68 crore in the previous quarter
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Catholic Syrian Bank saw a 3% decline in gold loan advances in the second quarter of the current financial year, according to the bank's regulatory filing. Loan against gold and gold jewellery stood at ₹5441.44 crore the end of September quarter compared to ₹5617.68 crore in the previous quarter. However, on a year-on-year basis gold loans saw a 10.17% growth.
On an overall basis, the south based private sector lender reported a 1.7% sequential growth in advances in the second quarter at ₹14304.14 crore. Gross advances stood at ₹14060.1 crore in the previous quarter. On a year-on-year basis, gross advances reported a double-digit growth of 12.09%.
The bank’s deposits grew by 2.19% sequentially in the second quarter to ₹19061.62 crore compared to ₹18652 crore in the previous quarter. On a year-on-year basis, total deposits grew by 9.12%.
The bank’s current and savings account ratio stood at 32% at the end of September quarter compared to 33% in the previous quarter.
CSB Bank had reported more than two-fold increase in its March quarter net profit to ₹53.6 crore on a healthy rise in core interest and treasury incomes. The bank reported profit growth despite a steep increase in overall provisions to ₹57.5 crore as against ₹10.1 crore in the year-ago period. The gross non-performing assets ratio improved to 3.51 per cent as of June as against 4.71 per cent in the year-ago period.