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CSB Bank’s advances against gold & gold jewellery portfolio declined 1.67 per cent year-on-year (y-o-y) even as its gross advances portfolio increased 11.55 per cent y-o-y as of December-end 2021.
This shows that the private sector bank is gradually diversifying its advances portfolio to reduce the concentration risk in the gold loan portfolio.
The Bank’s advances against gold & gold jewellery portfolio declined to ₹5,540 crore as of December-end 2021 against ₹5,634 crore as of December-end 2020, as per provisional business updates for the third quarter. During the reporting quarter, advances against gold & gold jewellery portfolio increased by about ₹99 crore.
Gross advances increased to ₹14,827 crore as of December-end 2021 against ₹13,291 crore as of December-end 2020. During the quarter, gross advances rose by ₹539 crore.
The Bank’s total deposits were up 7.34 per cent y-o-y to ₹19,056 crore as of December-end 2021 against ₹17,753 crore as of December-end 2020.
The share of the low-cost current accounts, savings account deposits increased to 34.56 per cent of total deposits as of December-end 2021 against 30.37 per cent as of December-end 2020.
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