Catholic Syrian Bank (CSB) has increased the minimum lending rates for its customers. The bank has increased its base rate from 10.20 percent to 11.05 percent.
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Catholic Syrian Bank (CSB) has increased the minimum lending rates for its customers. The bank has increased its base rate from 10.20 percent to 11.05 percent. The base rate of any bank is the rate below which it cannot give loan. It is called the minimum rate of the bank at which it can give loan to its customers. However, CSB Bank has not made any change in its landing rate.
Recently the bank’s MD and CEO Pralay Mandal had said that Kerala-based CSB Bank is looking for a bigger stake in gold and retail loans and is planning to give loans in these sectors. The bank’s stock today closed at Rs 283 with a gain of about one per cent.
Bank profit increased in Q4
The bank’s consolidated profit for the quarter ended March rose 19.6 per cent year-on-year to Rs 156.3 crore as against Rs 130.7 crore in the year-ago quarter. The bank’s Net Interest Income (NII) grew by 14.8 per cent to Rs 348.5 crore during the quarter from Rs 304 crore in the corresponding quarter last year.
CSB Bank Limited was incorporated in November 1920 and is currently the oldest private sector bank in Kerala. Presently the bank has 704 branches and 534 ATMs in 16 states, 4 union territories.
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