Best in class nos. by CSB Bank. While other banks have reported solid advances growth, only CSB has reported a deposit growth of 20% YOY, matched only by HDFC Bank. Slippages have degrown at a record 42% with ROE of~23% and PCR of record 91%. 45% of advances are gold loans which have grown at 51% YOY with net NPA of only 0.3%. With a book value of 167, it still trades at 1.4 times P/B , which is very attractive. Serious re-rating candidate in medium to long term. Invested and biased.
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