Catholic Syrian Bank aims to get back to consistent growth, says MD & CEO:

The Kerala-based Catholic Syrian Bank (CSB) has chalked out plans to get back on the path of consistent growth and sustainable success, powered by core income growth. The bank is focusing on capital augmentation after the Fairfax deal didn’t go through.

 

In 2016-17, the bank was able to report an operating profit of Rs 151.71 crore, as against an operating loss of Rs 3.75 crore in 2015-16, and reported a net profit of Rs 1.55 crore, as against a net loss of Rs 149.72 crore in 2015-16.

 

CSB Chairman T S Anantharaman said the bank’s profitability was under stress mainly due to muted growth in the overall business and an increase in provisioning for non-performing assets (NPA). However, according to him, the erosion in profitability has been arrested and contained.

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