CSB Bank Ltd.

•

csb.bank.inBSE: 542867NSE: CSBBANK

Market Cap₹ 5,389 Cr.

Current Price

High / Low₹ 574 / 306

Stock P/E8.1

Book Value₹ 279

Price to Book1.26

Dividend Yield0.00 %

ROCE11.3 %

ROE14.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Retail Banking: 54.6% • Corporate/Wholesale Banking: 26.5% • Treasury: 15.3%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 23.7% CAGR over last 5 years
Comfortable capital adequacy - CAR of 20.7%
Strong return ratios for a lender: 3Y avg ROE 15.4%, ROA 1.5%
Asset quality is healthy - gross NPA of just 1.7%
Strong provisioning - provision coverage ratio of 86.8%
Company has delivered good sales growth of 19.2% CAGR over last 5 years

CONS

A large part of profit comes from other income (138.2% of PBT)
Operating margins have contracted to 24.1% from 30.5%
Though reporting repeated profits, the company pays out little dividend (0.0%)
Growth is decelerating - 3Y profit CAGR (5.0%) trails the 5Y trend (23.7%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesBankBank - Private

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	HDFCBANK	687.25	13.41	1059339.46	2.26	203826.90	1092.64	905753.30	936.66	12.81	35.64
2.	ICICIBANK	1390.10	17.79	997793.42	0.86	16209.74	12.62	52240.85	6.44	16.51	32.39
3.	KOTAKBANK	414.40	20.31	412230.87	0.16	5487.06	23.89	18354.57	6.41	12.05	19.05
4.	AXISBANK	1239.50	13.89	385909.17	0.08	7656.51	22.31	35541.96	9.87	11.04	63.88
5.	IDBI	81.63	9.42	87771.86	0.00	2130.57	5.27	7549.28	7.44	14.76	76.80
6.	FEDERALBNK	344.85	18.21	85260.58	0.35	1297.61	37.06	7861.58	9.94	10.98	66.11
7.	AUBANK	1061.00	43.70	79680.01	0.09	795.95	37.03	5302.74	21.11	14.17	56.24
8.	INDUSINDBK	1002.00	59.04	78069.88	0.15	1037.02	71.68	11309.94	-7.78	4.97	55.07
9.	IDFCFIRSTB	86.00	32.17	74146.70	0.29	1147.82	153.12	11051.09	14.61	5.42	38.45
10.	YESBANK	22.43	18.65	70403.95	0.00	1071.81	32.53	8054.49	5.92	8.04	58.47
11.	RBLBANK	416.80	71.90	64643.15	0.24	2342.30	993.41	38402.40	1015.97	6.49	40.95
12.	CSBBANK	310.65	8.11	5389.34	0.00	1500.40	1165.09	12873.20	1136.69	11.30	60.72

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	683	687	762	795	832	865	919	981	1,041	1,109	1,154	1,201	1,287
Interest Expended	319	344	379	409	470	497	544	610	662	686	701	737	809
Net Interest Income	364	344	383	386	362	367	375	371	379	424	453	464	479
	120	143	125	197	172	199	219	381	245	349	276	306	229
Total Income	0	0	0	0	0	0	0	0	0	0	0	0	1,516
Operating Expenses	302	312	312	355	361	367	374	436	404	493	438	477	457
Operating Profit	181	175	196	228	172	200	221	317	220	279	292	294	251
Provisions & Contingencies	5	-3	-5	22	20	14	17	60	61	64	87	23	49
Profit before Tax	177	178	200	206	152	186	204	257	160	216	205	271	202
Tax %	25.17%	25.17%	25.17%	26.62%	25.66%	25.76%	25.72%	25.77%	25.65%	25.65%	25.65%	25.52%	25.63%
Net Profit	132	133	150	151	113	138	152	190	119	160	153	202	150
EPS	8	8	9	9	7	8	9	11	7	9	9	12	1

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	0	0	0	0	0	0	2,928	3,597	4,505	—
Interest Expended	1,023	912	908	918	931	885	986	1,451	2,121	2,785	2,932
Net Interest Income	-1,023	-912	-908	-918	-931	-885	-986	1,476	1,476	1,720	—
	281	125	136	222	303	247	316	584	972	1,177	1,161
Total Income	0	0	0	0	0	0	0	3,512	4,569	5,682	1,516
	0	0	0	0	0	0	0	1,281	1,538	1,812	—
Operating Profit	-1,023	-912	-908	-918	-931	-885	-986	780	910	1,085	—
	-15	34	35	20	0	-1	-29	18	111	234	—
Profit before Tax	-9	-149	-300	134	293	614	734	761	800	851	893
Tax %	-0.00%	-0.00%	-0.00%	0.00%	0.00%	0.00%	0.00%	25.56%	25.73%	25.61%	25.61%
Net Profit	2	-97	-197	13	218	458	547	567	594	633	665
EPS	0	0	0	0	13	26	32	33	34	36	—

COMPOUNDED SALES GROWTH

10 Years:: 12%
5 Years:: 19%
3 Years:: 25%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 24%
3 Years:: 5%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 1%
3 Years:: -3%
1 Year:: -16%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 17%
3 Years:: 15%
Last Year:: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	81	81	86	173	173	173	173	173	173	173
	918	808	694	1,787	2,006	2,464	3,012	3,613	4,300	4,688
	14,912	14,691	15,124	15,791	19,140	20,188	24,506	29,719	36,861	44,246
	42	42	0	794	1,426	2,007	783	1,757	5,546	7,154
Other Liabilities & Provisions	271	249	356	319	591	509	670	776	931	1,432
Total Liabilities	16,223	15,870	16,911	18,864	23,337	25,356	29,162	4	47,836	57,727
ASSETS	-	-	-	-	-	-	-	-	-	-
	756	678	725	548	736	1,473	1,470	3,090	3,187	4,017
Balances with Banks & Money at Call	455	537	248	392	978	101	367	65	405	80
	5,762	4,114	4,028	5,360	6,126	7,012	5,849	7,551	11,389	11,955
	8,119	9,337	10,615	11,366	14,438	15,815	20,651	24,336	31,507	39,848
	215	216	218	253	269	288	319	406	450	708
	916	987	1,077	945	790	668	507	608	719	1,117
Total Assets	16,223	15,870	16,911	18,864	23,337	25,356	29,162	4	47,836	57,727

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	395	27	-893	-1,109	1,374	-852	2,211	1,783	-5,256	-314
Cash from Investing	-17	-18	-22	-235	-1,231	131	-724	-1,439	1,904	-790
Cash from Financing	106	-5	674	1,310	632	581	-1,224	974	3,789	1,608
	485	4	-242	-34	775	-140	263	1,318	437	505

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	0.19	-12.04	-22.98	0.73	12.59	26.43	31.55	32.67	34.23	36.50
Book Value (₹)	103.18	90.11	72.45	103.93	116.72	143.22	174.84	208.11	247.86	270.40
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PROFITABILITY
Net Interest Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.21%	3.18%	3.08%
ROA %	0.01%	-0.61%	-1.20%	0.07%	1.04%	1.88%	2.01%	1.74%	1.42%	1.20%
ROE %	0.20%	-12.46%	-29.20%	1.05%	11.41%	20.33%	19.84%	17.06%	15.01%	14.08%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	62.15%	62.82%	62.53%
ASSET QUALITY
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.84%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.66%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	80.46%
Slippage Ratio %	—	—	—	—	—	—	—	—	—	—
BALANCE SHEET & LIQUIDITY
CASA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	27.20%	24.19%	19.96%
Credit-Deposit Ratio %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.15%	0.16%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.47%	22.46%	20.66%
GROWTH & VALUATION
Net Profit Growth %	101.04%	-6370.14%	-102.55%	106.45%	1616.35%	109.93%	19.38%	3.56%	4.76%	6.63%
Book Value Growth %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.03%	19.10%	9.09%
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	10.84x	8.83x	9.31x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.70x	1.22x	1.26x
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	40.00	40.00	40.00	40.00	40.00	40.00	40.00	40.00	40.00
	12.42	12.71	12.80	13.07	15.37	14.23	14.16	12.84	12.63
	18.71	17.59	17.00	16.83	14.57	16.04	15.58	15.16	15.01
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	28.86	29.71	30.20	30.10	30.06	29.73	30.27	32.00	32.36

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

News Verification

2026-09-09 - The Exchange has sought clarification from CSB Bank Limited with respect to recent news item captioned Fairfax plans IIFL Finance exit to fund IDBI Bank bid. The response from the Company is attached.

2026-09-08

General Updates

2026-09-08 - CSB Bank Limited has informed the Exchange about approval granted by Reserve Bank of India to ICICI Prudential Asset Management Company Limited to acquire aggregate holding of up to 9.95% of the paid-up share capital or voting rights in CSB Bank Limited

2026-09-08

News Verification

2026-09-08 - The Exchange has sought clarification from CSB Bank Limited with respect to recent news item captioned Fairfax plans IIFL Finance exit to fund IDBI Bank bid. The response from the Company is awaited.

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - CSB Bank Limited has informed the Exchange about Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - CSB Bank Limited has informed the Exchange about Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-05

General Updates

2026-09-05 - CSB Bank Limited has informed the Exchange about disclosure of ESG Rating Assigned to the Bank by Crisil ESG Ratings & Analytics Limited

2026-09-02

Change in Director(s)

2026-09-02 - CSB Bank Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-09-02

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-02 - CSB Bank Limited has informed the Exchange about Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24

Updates

2026-08-24 - CSB Bank Limited has informed the Exchange regarding 'Reconstitution of Committees of the Board'.

News

Recent coverage and analyst commentary for CSBBANK

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