CSB Bank Ltd — Q4 FY26
CSB Bank delivered a strong Q4 FY26 with net profit of ₹202 crore (up 32% QoQ) and full-year PAT of ₹633 crore (+7% YoY).
bullish
high
Financial stats pending filing verification
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
58%Questions answered2Evaded / deflected12Questions audited
Partial answer
High priority
Why is LCR declining and impact of new guidelines?
Asked by Suraj Das, Sundaram Mutual Fund
Explained tactical decision but did not quantify impact of new guidelines or give current LCR number.
no specific reason for declinedeflected to current higher levels
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Question
sir, on your LCR, it has been declining over the past two quarters... what is the rational? I mean why why it is declining and also uh how do you see the impact of new guidelines on the LCR?
Management (CEO)
On the LCR we ended average at around 109%... we targeted 110, we ended with 109 because in the last moment something happened... LCR is not our function at this point of time because we are significantly higher than these levels at this time.
Partial answer
High priority
Why is wholesale deposit share rising and cost implications?
Asked by Suraj Das, Sundaram Mutual Fund
Acknowledged current share but did not give expected future share or quantify cost impact.
no forward guidance on share trajectory
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Question
deposit growth is increasingly driven by wholesale bulk deposit which is now almost 50% of the term deposit... what is your expectation that the share of wholesale deposit will continue to go up?
Management (CEO)
Yes, it is around 50% of our overall term deposits. It is a tactical play... we locked in ourselves only for short period of wholesale... this tactical play will play out.
Partial answer
Medium priority
Strategy for gold loan customer acquisition and tonnage growth?
Asked by Suraj Das, Sundaram Mutual Fund
Explained decline but did not outline concrete acquisition strategy beyond moving to larger tickets.
no specific customer acquisition plan
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Question
the number of accounts on the golden portfolio is declining consistently... tonnage growth is also hardly there... what is your strategy in terms of maybe incremental customer acquisition?
Management (CEO)
Number of accounts went down because we moved to larger ticket sizes... tonnage growth will go up once gold prices come down... we are sitting off fair bit of margin in terms of risk.
Partial answer
Medium priority
How is NRI deposit flow trending post West Asia crisis?
Asked by Suraj Das, Sundaram Mutual Fund
Acknowledged disruption but gave no quantitative trend or current run-rate.
no specific numbers on flow
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Question
comment on the NRI deposit flow I mean how it is trending... and if you have seen any slowdown post March particularly because of this Oasia crisis?
Management (CEO)
In the short run there has been little bit of a disruption flow on the NRI flow... but these are short-term things... we have created a separate vertical for NRI business.
Evasive
High priority
Progress on retail asset transformation and FY27 growth expectations?
Asked by Akshit Agraal, Smith's Institutional Research
Did not provide any quantitative FY27 growth expectation; deferred to FY28.
no FY27 numbers givenpushed timeline to FY28
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Question
could you please update on the progress of the retail transformation on the asset side? When do you expect growth to meaningfully pick up in retail and theme and what kind of numbers should we expect in FY27?
Management (CEO)
We are fast focusing on retail liability... meaningful growth will retail assets will start from FI28 onwards... you will not see a meaningful growth on the retail asset side.
Answered
High priority
Drivers of fee income and PSLC income this quarter?
Asked by Akshit Agraal, Smith's Institutional Research
Clearly stated no syndication fee and PSLC was very low, with comparison to prior year.
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Question
on fee income side which picked up strongly... was there any syndication fee in this quarter? And was there any material PSLC related costs?
Management (CEO)
I confirm there has been no syndication fee in Q4. And frankly PSLC premium was very very low in Q4... significantly lower than what we booked in Q4 of last year.
Answered
High priority
Cost to income ratio trajectory and headcount reduction?
Asked by Akshit Agraal, Smith's Institutional Research
Gave clear range for FY27 and stated it will not go below 60% until FY28.
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Question
how should we think about the cost to income ratio trajectory? Can we see it move below 60% in FY27?
Management (CEO)
On the CTI I always said that we 60 to 65 till FY end of FY27... FY28 onwards the operating leverage will kick in... our CTI will remain between 60 to 65.
Evasive
High priority
What is the impact of ECL on transition day?
Asked by Parth (Parka), 361 Capital
Stated impact is not significant but refused to give a number, citing ongoing model refresh.
no specific number givenwork still underway
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Question
what is the impact of ECL on on the day of transition?
Management (CEO and Satish)
At a high level... the transition impact is not a significant number for us at the moment... subject to any significant changes which happen to the model.
Partial answer
Medium priority
Why have gold loan yields increased recently?
Asked by Parth (Parka), 361 Capital
Explained strategy to maximize yields but did not directly attribute the 40 bps increase to the new product.
did not confirm if working capital loan caused the increase
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Question
the yields had been coming off... but over the last three four quarters the yields have increased by around 40 to 40 pips... Is this largely because of the working capital against gold loan?
Management (CEO)
We are now looking at larger ticket sizes... we said that we must maximize returns... we are actually underpricing us so far in this business.
Answered
High priority
Why is retail asset growth taking so long despite liability advantage?
Asked by Vibour Tala, Nest Amplifier
Clearly attributed delay to core system migration and confirmed retail journey is starting now.
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Question
it has been a fairly tepid growth... why exactly it is taking so much time is it because the market exists... but somehow despite our liability advantage we have been able to do fairly little on the retail side?
Management (CEO)
Our core system migration... started only in FI25... the retail journey is starting now... we are not shifting the goal post from FI30 to FI32 or FI33.
Partial answer
High priority
Why is NII growth only 2% QoQ despite 9% loan growth?
Asked by Punit Balani, Dollar Capital
Explained directionally but did not provide specific numbers for yield compression or cost increase.
no precise quantification of yield and cost changes
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Question
the loan growth has been 9% and NI growth is only in the range of 2%. So something I'm missing?
Management (CEO)
Our yields has fallen little bit in Q4 and cost of deposits has gone up slightly which has impacted the need... the difference between cost of funds and yields is little more than what it meets the eye.
Answered
High priority
What are the loan growth and ROA/ROE targets for next year?
Asked by Narendra Gandhi, Dante Equity
Provided explicit loan growth target of 25% and ROA/ROE ranges of 1.5% and 15%.
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Question
what are we targeting for the next year in terms of loan growth... and ROA and ROE wise I would like to know where are we targeting?
Management (CEO)
I think 25% is something we'll be disappointed if we don't do that... our overall range of somewhere around 1.5% and overall range somewhere around 15% of roe that will sustain.