The Reserve Bank of India (RBI) on Friday has approved the appointment of Pralay Mondal as the deputy managing director of the bank, for a period of three years, CSB Bank said in a regulatory filing.

"We wish to inform you that RBI has today, vide their letter dated February 17, 2022, conveyed their approval in terms of Selection 35 B of the Banking Regulation Act, 1949, to the appointment of Mr. Pralay Mondal as the Deputy Managing Director of the Bank, for a period of three years from the date of approval letter cited above," the bank said.

Mondal joined Thrissur-based bank as the president of retail, small and medium enterprises, operations and information technology in 2020 after he quit Axis Bank as executive director (retail banking).

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Prior to Axis Bank, Mondal headed commercial business banking and rural banking and senior group president of retail and business banking at Yes Bank.

He had worked with HDFC Bank and Yes Bank earlier before joining Axis Bank in April 2019 after the appointment of Amitabh Chaudhry as the head of the bank.

CSB Bank had reported a nearly three-fold jump in net profit to Rs 148.26 crore for the third quarter ended December 2021. However, total income during the reported quarter declined to Rs 579.81 crore as against Rs 614.06 crore in the same period a year ago.

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The bank's asset quality deteriorated as the gross non-performing assets (NPAs) rose to 2.62 percent of the gross advances as of December 31, 2021, against 1.77 percent by the end of the third quarter of the previous fiscal.

Net NPAs also rose to 1.38 percent from 0.68 percent. The capital adequacy ratio stood at 20.74 percent at the end of December 31, 2021.

Shares of CSB Bank ended at Rs 234.10, down by Rs 3.60, or 1.51 percent on the BSE.

(Edited by : Jomy Jos Pullokaran)

First Published:Feb 18, 2022 6:29 PM IST