CSB Bank share price rises over 8% post Q4 earnings

CSB Bank share price opened with a gain of 2.44% today and later touched an intraday high of Rs 154, rising 8.76% on BSE, as against the previous closing of Rs 141.60 on BSE.

For FY2019-20, the Kerela-based lender reported a net profit of Rs 12.72 crore as against a loss of Rs 197.42 crore in the year-ago period.

The bank narrowed its losses to Rs 59.69 crore for the quarter ended March 2020, as against Rs 150.64 crore in the year-ago period.

CSB Bank stock trades higher than 5, 20, 50 and 100-day but lower than 200-day moving averages. The stock has grown 15.34% in one week and 29,27% in one month.

Market capitalisation of the bank stood at Rs 2,627 crore as of today's session.

In the March quarter, the private sector lender's net interest income grew by 35% to Rs 592 crore and its net interest margin improved to 3.2% from 2.5%.

During the reporting quarter, CSB Bank's asset quality improved with gross non-performing assets ratio reducing to 3.54% from 4.87% last year, while the provision coverage ratio was over 80%.

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