Is anyone know why they stopped paying Dividends even after having repeated profits from last couple of year?
Seems this bank is technological very far behind from the competitors by going through many customers review feedback.
Some can be found below:
Happy Investing,
Karthik
Disclosure: Not having any exposure to this counter. Tacking this Bank with DCB Bank due to good valuations
Private sector lender CSB Bank on Friday reported a 10 per cent rise in net profit at Rs 133 crore in the second quarter ended September 2023 as bad loans declined. The Kerala-based bank had posted a net profit of Rs 121 crore in the year-ago period.
Total income rose to Rs 836 crore from Rs 600 crore in the same period a year ago, CSB Bank said in a regulatory filing. During the quarter, the bank earned interest income of Rs 687 crore as compared to Rs 555 crore in the same period a year ago.
On the asset quality side, the bank witnessed improvement with gross non-performing assets (NPAs) fell to 1.27 per cent of gross advances by the end of September 2023 from 1.65 per cent a year ago. Net NPAs too declined to 0.33 per cent from 0.57 per cent in the same quarter a year ago.
Earlier there was a regulatory restriction. However, this should not be an issue now. Had asked the management, waiting for their response
Fairfax is ready for an “all-cash” deal to acquire IDBI Bank.
