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Shares of CSB Bank climbed over 5 percent in early morning trade as the bank saw a 10 percent growth in deposits for the July-September quarter.

At 12:09 am shares of CSB Bank were trading at Rs 233, up by 4.67 percent from the previous close on the BSE.

On October 1, 2022 in an exchange filing CSB Bank notified that its total deposits for the July-September quarter stood at Rs 20,986 crores growing 10 percent from Rs 19,055 crore in the corresponding period a year ago.

Advances against Gold & Gold Jewellery (including receivables secured against gold) grew 47 percent from Rs 5,441 crore in the quarter ended September 2021 to Rs 8,027.7 crore in the July-September quarter of 2022.

Gross advances for the quarter increased 23 percent from the corresponding period a year ago and stood at Rs 17,661 crore.

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Interestingly Pralay Mondal, MD & CEO of CSB Bank told CNBC-TV18 last month that CSB Bank does not want gold loans to constitute a major part of its loan book by the end of this decade. He added that by FY30, most of the bank's loan book would come via retail, even as gold remains an integral part.

During the April-June quarter of the current financial year, gold loans constituted nearly 42 percent of the bank's overall advances and increased 26.3 percent year-on-year. On the other hand, the overall retail loans declined 14 percent from the same period last year.

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