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CSB Bank Ltd

BSE Code : 542867 | NSE Symbol : CSBBANK | ISIN:INE679A01013| SECTOR : Banks |

NSE BSE
 
SMC down arrow

257.60

-4.95 (-1.89%) Volume 280564

07-May-2021 EOD

Prev. Close

262.55

Open Price

263.00

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 263.45 - 255.00

52 wk High/Low 280.00 - 111.10

Key Stats

MARKET CAP (RS CR) 4475.07
P/E 38.62
BOOK VALUE (RS) 111.0688844
DIV (%) 0
MARKET LOT 1
EPS (TTM) 6.68
PRICE/BOOK 2.3224326182212
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 41.1
4

News & Announcements

05-May-2021

CSB Bank Ltd - CSB Bank Limited - Analysts/Institutional Investor Meet/Con. Call Updates

30-Apr-2021

CSB Bank Ltd - Announcement under Regulation 30 (LODR)-Newspaper Publication

30-Apr-2021

CSB Bank Ltd - CSB Bank Limited - Copy of Newspaper Publication

29-Apr-2021

CSB Bank to declare Quarterly Result

29-Apr-2021

CSB Bank to declare Quarterly Result

19-Apr-2021

CSB Bank director resigns

31-Mar-2021

CSB Bank allots 30,000 equity shares under ESOP

30-Mar-2021

CSB Bank opens its 101st branch

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
AU Small Finance Bank Ltd 540611 AUBANK
Axis Bank Ltd 532215 AXISBANK
Bandhan Bank Ltd 541153 BANDHANBNK
Bank of Madura Ltd (Merged) 531966 BANKMADURA
Bank of Punjab Ltd(merged) 500070 BANKPUNJAB
Bank of Rajasthan Ltd(merged) 500019 BANKRAJAS
Centurion Bank of Punjab Ltd(merged) 532273 CENTBOP
City Union Bank Ltd 532210 CUB
DCB Bank Ltd 532772 DCBBANK
Dhanlaxmi Bank Ltd 532180 DHANBANK
Equitas Small Finance Bank Ltd 543243 EQUITASBNK
Federal Bank Ltd 500469 FEDERALBNK
Global Trust Bank Ltd (Merged) 500161 GLOBLTRUST
HDFC Bank Ltd 500180 HDFCBANK
ICICI Bank Ltd 532174 ICICIBANK
IDBI Bank Ltd(merged) 532235 IDBIBANK
IDBI Bank Ltd 500116 IDBI
IDFC First Bank Ltd 539437 IDFCFIRSTB
IndusInd Bank Ltd 532187 INDUSINDBK
ING Vysya Bank Ltd(Merged) 531807 INGVYSYABK
Jammu and Kashmir Bank Ltd 532209 J&KBANK
Karnataka Bank Ltd 532652 KTKBANK
Karur Vysya Bank Ltd 590003 KARURVYSYA
Kotak Mahindra Bank Ltd 500247 KOTAKBANK
Lakshmi Vilas Bank Ltd(Merged) 534690 LAKSHVILAS
Nedungadi Bank Ltd (Merged) 511264 NEDUNGBANK
RBL Bank Ltd 540065 RBLBANK
South Indian Bank Ltd 532218 SOUTHBANK
Standard Chartered PLC 580001 STAN
Suryoday Small Finance Bank Ltd 543279 SURYODAY
Times Bank Ltd (merged) 532252 TIMESBANK
Ujjivan Small Finance Bank Ltd 542904 UJJIVANSFB
United Western Bank Ltd(merged) 500430 UNIWESTBNK
Yes Bank Ltd 532648 YESBANK

Share Holding

Category No. of shares Percentage
Total Foreign 24851982 14.33
Total Institutions 16091131 9.28
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 9576795 5.52
Total Promoters 86262976 49.72
Total Public & others 36702943 21.17
Total 173485827 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About CSB Bank Ltd

The Catholic Syrian Bank Limited (CSB) is one of India's oldest private sector banks with headquarters in the Thrissur district of Kerala. CSB commenced business on 01 January 1921 with an authorised capital of Rs.5 lakhs and a paid up capital of Rs. 45270/-. Presently the bank has a client base of over 1.6 million customers. During the FY2020, the bank has raised capital of Rs 409.68 crore through Initial Public Offering(IPO) and the shares of the bank were listed in BSE and NSE from 04 December 2019. During the first two decades of its functioning, the Bank concentrated only in Kerala. Banks and credit institutions which proliferated especially in Kerala received a jolt and many of them came to their doom following the crash of the Travancore National Quilon Bank in 1938 followed by Palai Central Bank in1960. During the period many small banks came to the verge of collapse shaking the confidence of the public and what followed was a process of consolidation. The strategy of mergers and amalgamations of small banks with bigger banks brought the number of banks within controllable limits, thereby making the industry's base strong. In 1964-65, The Catholic Syrian Bank Ltd took part in taking over the liabilities and assets of five small/medium sized banks in Kerala. The expansion programme initiated during these years gathered momentum in the subsequent years. In August 1969, the Bank was included in the Second Schedule to the Reserve Bank of India Act 1934. In 1975, the Bank attained the status of 'A' Class Scheduled Bank when its total Deposits crossed Rs.25 crores. The necessity of imparting training to staff looked very important and a modest beginning was therefore, made in setting up a Training College in 1975. In the same year the Bank entered the field of foreign Exchange. At a very early stage, the Bank recognised mechanisation as an effective tool of management and streamlined its accounting procedures by introduction of Data processing system. From November 1975, reconciliation of inter-branch accounts was mechanised by using IBM Data processing machines. The decade of the seventies saw the evolution of a new culture in Indian Banking. Nationalisation of banks imposed 'Social Control' and imparted new ethos to commercial banking . What followed was a massive expansion of bank branches with a distinct thrust on remote rural belts. Special schemes were formulated to cater to the diverse credit needs of small scale industries, road transport operators, agriculturists,and other self employed entrepreneurs. The Catholic Syrian Bank Ltd did not lag behind in taking up the challenge and more than 75% of its clientele belong to small and economically weaker strata of Society. The Bank has a strong rural base with around 80% of the branches in rural and semi- urban areas. Investments in money market and capital market instruments are being expanded and steps are being taken to have an in house equity research wing so as to face the challenges of the future. The Bank has also geared up its machinery to increase its market share of corporate finance in the days to come. The Bank has a Tie-up arrangment with Birla Sunlife Insurance Company Ltd for marketing their Life Insurance products and with New India Assurance Company Limited for marketing their General Insurance products. At Present, the Bank has tie-up arrangements with five companies to market their mutual fund products. At present, the bank has a network of 334 branches/extension counters which includes 5 NRI branches, 5 SSI branches, 5 industrial Finance branches and 4 Service branches. The Bank also plans to open more number of branches in a phased manner. The Bank has installed 21 new ATMs at different locations during the 2005-2006. The Bank at present has 71 Atms. The Bank has 109 ATM networked branches and it is proposed to bring the entire branches under the ATM Network by the end of March 2007. On 14 October 2014, the Bank had successfully allotted under preferential allotment basis 3406094 equity shares at a price of Rs 180 per share (inclusive of premium of Rs 170 per share) to eleven investors aggregating Rs 61,30,96,920. On 27 March 2015, the Bank had successfully allotted 15084406 equity shares of Rs 10 each to its existing shareholders in the ratio of 1 rights equity share for every 3 shares of the face value of Rs 10 each held by such equity shareholders, at a price of Rs 75 per share (inclusive of premium of Rs 65 per share), aggregating Rs 113.13 Crore. The Bank's aggregate deposits rose by Rs 800.63 Crore to Rs 14,474.49 Crore as on 31 March 2015, from Rs 13,673.86 Crore in March 2014 recording a growth of 5.86%. During this period, the Bank's net advances increased to Rs 9,471.96 Crore as against Rs 8,707.36 Crore in the previous year. As on 31 March 2015, the bank has a distribution network of 431 branches and 233 ATMs across the country. On 12 January 2016, the Bank had allotted 55,00,000 Equity Shares at a price of Rs 100 per share (inclusive of premium of Rs 90 per share), aggregating Rs 55,00,00,000. On 03 February 2016, the Bank had allotted 48, 00,325 Equity Shares at a price of Rs 100 per share (inclusive of premium of Rs 90 per share), aggregating Rs 48,00,32,500. On 18 February 2016, the Bank had allotted 10,70,032 Equity Shares at a price of Rs 100 per share (inclusive of premium of Rs 90 per share), aggregating Rs 10,70,03,200. During the fiscal 2016, the total deposits of the Bank stood at Rs 14,438.40 Crore, registering a negative growth to the tune of Rs 36.09 Crore, compared to previous year level of Rs 14474.49 crore. The negative growth is attributable to the conscious de-risking policy adopted by the Bank in FY16 of shedding high cost corporate deposits to the tune of Rs 1006.70 Crore. During the FY2016, the Bank's net advances decreased to Rs 7,852.65 Crore against Rs 9,469.40 Crore in the previous year. As on 31 March 2016, the bank has a distribution network of 429 branches and 240 ATMs across the country. During the FY2017, on 25.10.2016, the Bank has allotted 92,54,100 Equity Shares on Preferential basis for an issue price of Rs 120 per share (Rs 10/- towards share capital & Rs 110 towards share premium) and mobilized Rs 111,04,92,000. During the FY2017, Bank's total deposits have increased by Rs 473.16 crore and reached Rs 14911.56 crore as compared to Rs 14438.40 crore in the previous year. During this period, the Bank's net advances increased to Rs 8,118.93 crore as against Rs 7,852.65 crore in the previous year. As on 31 March 2017, the bank has a distribution network of 426 branches and 257 ATMs across the country. During the FY2018, Bank's total Assets have decreased by Rs 353.18 crore and stood at Rs 15870.05 crore as compared to Rs 16,223.24 crore in the previous year. The Bank's total deposits have decreased by Rs 220.91 crore and stood at Rs 14,690.65 crore as compared to Rs 14,911.56 crore in previous year 2017. However Bank's Net Advances have increased by Rs 1,218.42 crore and reached Rs 9,337.36 crore as against Rs 8,118.93 crore in the previous year. As on 31 March 2018, the bank has a distribution network of 421 branches and 254 ATMs across the country. Pursuant to approval accorded by shareholders by way of special resolution passed in the Extraordinary General Meeting of the Bank held on 21 March 2018 and in terms of Reserve Bank of India approval vide etter DBR.PSBD.No.341/16.1.060/2018-19 dated 12 July 2018 and approval of Department of Financial Services of the Ministry of Finance, Government of India vide letter No. F.No.26/5/2018-BOA dated 09 October 2018, the Bank on 19 October 2018 allotted an aggregate number of 1,98,32,130 Equity Shares of Rs 10 each at an issue price of Rs 140 per share (including premium of Rs 130 per share) and 6,64,63,329 Warrants compulsorily convertible into or exchangeable for Equity Shares of Rs 10 each at an issue price of Rs 140 (including premium of Rs 130 per warrant) to FIH Mauritius Investments Ltd(FIHM). Equity shares were allotted on a partly paid up basis and received Rs 35 per share upfront, aggregating of Rs 694,124,550/-. Warrants were allotted on a partly paid up basis and received Rs 56 per warrant upfront, aggregating of Rs 3,72,19,46,424 and thereafter on 20 March 2019 received Rs 42 per warrant as first call aggregating of Rs 27,91,459,818. The Bank, as on 31 March 2019, has received an amount aggregating of Rs 7,207,530,792 by allotting Warrants and Shares to FIH-M. FIHM is holding 5.77 % in the paid up capital of the Bank and in terms of issued capital, the same is 19.68%. The said percentage will go up to 51 % on a fully diluted basis, post conversion of warrants into equity shares and partly paid up equity shares be made fully paid up. FIHM is an investment holding company incorporated under the laws of Mauritius. FIHM is wholly owned by Fairfax India Holdings Corporation ('FIHC'), an entity listed on the Toronto Stock Exchange. Fairfax Financial Holdings Limited ('FFH/Fairfax'), through its subsidiaries (collectively the 'Fairfax Group'), controls 93.7% of the voting shares of FIHC. FFH is also an entity listed on the Toronto Stock Exchange. During the FY2019, Bank's Total Assets have increased by Rs 1041.11 crore and stood at Rs 16911.16 crore as compared to Rs 15870.05 crore in the previous year. The Bank's Aggregate deposits as at 31 March 2019 stood at Rs 15123.87 Crore, as compared to previous year level of Rs 14690.65 Crore. During this period, the Bank's net advances increased to Rs 10615.24 crore as against Rs 9337.36 crore, registering 13.69% growth YoY in the previous year. As on 31 March 2019, the bank has a distribution network of 419 branches and 277 ATMs across the country. The financial year 2019-20 turned out to be one of the important milestone years in the corporate history of the Bank. The Bank successfully completed its Initial Public Offering (IPO) to the tune of Rs 409.676 crore which received an overwhelming response from the investors and the issue was subscribed overall by 86.92 times. The Public Issue of 21,009,067 equity shares of Rs 10 each of the Bank for cash at a price of Rs 195 per equity shares including a share premium of Rs 185 per equity share aggregating to Rs 409.676 crore comprised of a Fresh Issue of 1,230,769 equity shares of the Bank aggregating to Rs 23.999 crore and an Offer for Sale of 19,778,298 equity shares by the existing members of the Bank aggregating up to Rs 385.676 crore. The equity shares of Bank were listed and admitted for dealings on BSE Limited ('BSE') and National Stock Exchange Limited ('NSE') with effect from 04 December 2019. The Bank on receipt of approval of the shareholders by postal ballot on 04 May 2019, approached Registrar of Companies, Kerala to effect the change of name of the Bank from The Catholic Syrian Bank Limited' to CSB Bank Limited'. The Registrar of Companies, Kerala, issued Certificate of Incorporation pursuant to change of name on 10 June 2019 and accordingly, the change of name has been effective from the said date. The Reserve Bank of India, vide letter dated 28 June 2019, granted fresh license to carry on banking business in India, in lieu of the old license, consequent upon the change of name of the Bank. Reserve Bank of India, vide circular dated 17 October 2019, advised about notification of the change of name of the Bank from The Catholic Syrian Bank Limited' to CSB Bank Limited' in the second schedule to the Reserve Bank of India Act, 1934 with effect from 10 June 2019 by Notification DBR.PSBD.No.503/16.01.160/2019- 20 dated 17 July 2019 published in the weekly gazette (Part III-Section 4). During the fiscal 2020, Bank's total assets increased to Rs 18,864.24 crore as compared to Rs 16,911.16 crore in FY19 showing a y-o-y growth of 11.55%. The Bank's Aggregate deposits at the end of FY20 stood at Rs 15,790.68 crore, as against to previous year level of Rs 15,123.87 crore, registering a y-o-y growth of 4.41%. The Financial year 2019-20 has been a year of strategic development through well-made rational decisions. Bank closed/merged its 13 branches, but expanded its outreach to the customers by opening 10 new branches and 23 ATMs at various places across the country. As on 31 March 2020, the Bank has 417 branches including 3 service branches, 3 Asset Recovery Branches and 300 ATMs spread across the country. As on 31 December 2020, the bank has a network of 460 branches (including of 3 service branches and 3 Asset Recovery branches) and 319 ATMs spread across the country.

CSB Bank Ltd Chairman Speech

Dear Shareholders,

It is my privilege to write my first message as the Chairman of your Bank, which has a tradition and existence, traversing nearly a century. Details of the performance and initiatives undertaken by your Bank during the FY19 are provided in the enclosed Annual Report.

I would like to share with you the economic and banking environment in which your Bank performed during the year under review. After the strong growth in early 2018, global economy lost its speed with its fiscal space getting squeezed, especially due to unsettled trade tensions, developments around Brexit and macroeconomic stress in few countries. The financial services industry today stands at an inflection point. From an economic perspective, we can expect the near future to be challenging and volatile. There is considerable uncertainty as to whether this volatility is temporary or the beginning of a recession in advanced economies. This uncertainty also seems to be reflected in several downward revisions to the FY19 global growth forecasted by the International Monetary Fund (IMF). Moreover, central banks across the world are stepping back from tightening monetary policy and some of them are promoting easier lending conditions. In some economies, fiscal stimuli are being used to support growth. During the year under review, Indian economy started with a healthy growth rate of 8.2% backed by strong domestic consumption. However, the growth deteriorated in the subsequent quarters owing to strong global volatility largely from financial volatility, end of quantitative easing in the large and advanced economies leading to investment outflows, externalities from trade disputes and rising crude oil prices. The second advance estimates for FY19 released by the Central Statistics Office (CSO) in its latest report revised India's real Gross Domestic Product growth downwards to 7.0% from 7.2% in the first advance estimates. The proximate factors responsible for this slowdown include declining growth of private consumption, tepid increase in fixed investment and muted exports. Though the expectations of the inflationary pressures remain mild, concerns regarding Current Account Deficit and Trade Deficit looms large. Boost to exports in the backdrop of global economic recovery and improvement in domestic investment climate, backed by various initiatives of the Government, supports favourable growth outlook for FY20. The Indian economy has also shown remarkable resilience against adverse global developments, if not completely decoupled from it. With increasing sustained economic growth and macro-economic stability, favourable demography and a large market, India is an important player in the global economic arena.

The FY19 was yet another turbulent year for the Banking Industry. The operating environment continued to be under stress for the industry in view of gradual growth of demand for industrial products. Indian Banking sector is struggling with Non-Performing Assets (NPAs). Fintechs are leading in innovation in the banking industry by sharpening their focus on customer experience. Banks face a number of choices: replicate what Fintechs are doing, respond with equally innovative solutions, become more symbiotic and less competitive, or pursue a mix of these strategies that fit their unique capabilities and market positions.

Notwithstanding these challenges, Indian Banking sector has displayed a high level of resilience by improving its performance. On the regulatory front, Reserve Bank of India (RBI) adopted a slew of policy measures in order to stimulate the economy and support the growth of the banking sector. On the monetary policy front, RBI reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.0% from 6.25%. Economic fundamentals are still strong, the regulatory climate is favourable and transformation technologies are more readily accessible, powerful, and economical than ever before. Private consumption is likely to remain at its mainstay and investment activity is expected to remain strong. Recapitalisation of public sector banks and the ongoing improvement in their financials and resolution of stressed assets under the Insolvency and Bankruptcy Code are expected to improve bank credit offtake and support investment and aggregate demand. It is also a relief for the economy that NPAs have started falling for the first time in three years since 2015. The policy repo rate cut in February 2019 and the demand-enhancing proposals in the Union Budget 2019-20 are also expected to boost aggregate demand. Deceleration in global trade and global GDP growth, however, poses downside risks to domestic economic activity.

Your Bank has reported an Operating Profit of Rs. 13.36 crore in FY19 as against Rs. 74.33 crore in FY18. The decrease was due to increase in operating expenses mainly on account of incremental provisioning for retirement benefits of employees. Net Interest Income (NII) increased to Rs. 439.95 crore in FY19 as against Rs. 384.81 crore in FY18. Non-Treasury Other Income increased to Rs. 127.92 crore in FY19 from Rs. 122.70 crore in FY18. Your Bank has reported a Net Loss of Rs. 197.42 crore in FY19 as against Net Loss of Rs. 97.47 crore in FY18. The increase in Loss was mainly on account of rise in operating expenditure and accelerated provision made for NPA and depreciation on investments. Despite the challenges faced during the period under review, your Bank has remained capitalised enough and fundamentally strong to absorb these adversities. There are, however, challenges of improving the quality of assets, increasing the pace of business growth, effective risk management particularly in the context of Basel III norms, driving financial inclusion and above all, sustaining the key profitability parameters. During the period under review, several steps were initiated by your Bank to recalibrate and consolidate its strengths. In the technology front, your Bank has adopted and implemented new technologies to favourably leverage its position.

Pursuant to the approval accorded by the RBI, shareholders and other requisite approvals, FIH Mauritius Investments Ltd (FIHM), acquired 51% stake in your Bank on a fully diluted basis. FIHM has already infused capital aggregating to Rs. 720.75 crore in respect of warrants and shares allotted to them. This acquisition is the first of its kind in the banking space in the country. This infusion strengthened the capital adequacy of your Bank to a very solid level and will help the growth plan of your Bank.

Your Bank is enduring the process of major transformation exercise filled with substantial opportunities, both within the country and abroad and as part of the process, decided to change the name of your Bank to CSB Bank Limited from The Catholic Syrian Bank Limited and hopes that the process would be completed soon.

Your Bank is committed to high standards of corporate governance practices and upholds fairness and trust in all its dealings with its stakeholders. Your Bank is also focussing on Corporate Social Responsibility (CSR) front by taking all possible steps to increase its CSR reach and spend over the coming years, supplemented by its continued focus towards sustainable development and responsible banking.

On behalf of my colleagues on the Board, I place on record our gratitude for the support and guidance extended by the Government of India, Reserve Bank of India, Securities and Exchange Board of India, Indian Banks' Association and other regulatory authorities. I would also like to place on record my sincere appreciation to all our employees, unions, customers, investors and other stakeholders, for their unstinted support to the Bank. We are committed to constantly improving your Bank's operations and differentiate itself in the market-place through customer focussed innovations in products and services and are confident that all our concerted efforts will add significant value to various aspects of the business and help us render quality service to our customers and all other stakeholders.

I conclude by stating that your Bank is committed to creating value and delivering long-term profitable growth for all our stakeholders in the years to come.

Thank you.

Madhavan Menon

Chairman

   

CSB Bank Ltd Company History

The Catholic Syrian Bank Limited (CSB) is one of India's oldest private sector banks with headquarters in the Thrissur district of Kerala. CSB commenced business on 01 January 1921 with an authorised capital of Rs.5 lakhs and a paid up capital of Rs. 45270/-. Presently the bank has a client base of over 1.6 million customers. During the FY2020, the bank has raised capital of Rs 409.68 crore through Initial Public Offering(IPO) and the shares of the bank were listed in BSE and NSE from 04 December 2019. During the first two decades of its functioning, the Bank concentrated only in Kerala. Banks and credit institutions which proliferated especially in Kerala received a jolt and many of them came to their doom following the crash of the Travancore National Quilon Bank in 1938 followed by Palai Central Bank in1960. During the period many small banks came to the verge of collapse shaking the confidence of the public and what followed was a process of consolidation. The strategy of mergers and amalgamations of small banks with bigger banks brought the number of banks within controllable limits, thereby making the industry's base strong. In 1964-65, The Catholic Syrian Bank Ltd took part in taking over the liabilities and assets of five small/medium sized banks in Kerala. The expansion programme initiated during these years gathered momentum in the subsequent years. In August 1969, the Bank was included in the Second Schedule to the Reserve Bank of India Act 1934. In 1975, the Bank attained the status of 'A' Class Scheduled Bank when its total Deposits crossed Rs.25 crores. The necessity of imparting training to staff looked very important and a modest beginning was therefore, made in setting up a Training College in 1975. In the same year the Bank entered the field of foreign Exchange. At a very early stage, the Bank recognised mechanisation as an effective tool of management and streamlined its accounting procedures by introduction of Data processing system. From November 1975, reconciliation of inter-branch accounts was mechanised by using IBM Data processing machines. The decade of the seventies saw the evolution of a new culture in Indian Banking. Nationalisation of banks imposed 'Social Control' and imparted new ethos to commercial banking . What followed was a massive expansion of bank branches with a distinct thrust on remote rural belts. Special schemes were formulated to cater to the diverse credit needs of small scale industries, road transport operators, agriculturists,and other self employed entrepreneurs. The Catholic Syrian Bank Ltd did not lag behind in taking up the challenge and more than 75% of its clientele belong to small and economically weaker strata of Society. The Bank has a strong rural base with around 80% of the branches in rural and semi- urban areas. Investments in money market and capital market instruments are being expanded and steps are being taken to have an in house equity research wing so as to face the challenges of the future. The Bank has also geared up its machinery to increase its market share of corporate finance in the days to come. The Bank has a Tie-up arrangment with Birla Sunlife Insurance Company Ltd for marketing their Life Insurance products and with New India Assurance Company Limited for marketing their General Insurance products. At Present, the Bank has tie-up arrangements with five companies to market their mutual fund products. At present, the bank has a network of 334 branches/extension counters which includes 5 NRI branches, 5 SSI branches, 5 industrial Finance branches and 4 Service branches. The Bank also plans to open more number of branches in a phased manner. The Bank has installed 21 new ATMs at different locations during the 2005-2006. The Bank at present has 71 Atms. The Bank has 109 ATM networked branches and it is proposed to bring the entire branches under the ATM Network by the end of March 2007. On 14 October 2014, the Bank had successfully allotted under preferential allotment basis 3406094 equity shares at a price of Rs 180 per share (inclusive of premium of Rs 170 per share) to eleven investors aggregating Rs 61,30,96,920. On 27 March 2015, the Bank had successfully allotted 15084406 equity shares of Rs 10 each to its existing shareholders in the ratio of 1 rights equity share for every 3 shares of the face value of Rs 10 each held by such equity shareholders, at a price of Rs 75 per share (inclusive of premium of Rs 65 per share), aggregating Rs 113.13 Crore. The Bank's aggregate deposits rose by Rs 800.63 Crore to Rs 14,474.49 Crore as on 31 March 2015, from Rs 13,673.86 Crore in March 2014 recording a growth of 5.86%. During this period, the Bank's net advances increased to Rs 9,471.96 Crore as against Rs 8,707.36 Crore in the previous year. As on 31 March 2015, the bank has a distribution network of 431 branches and 233 ATMs across the country. On 12 January 2016, the Bank had allotted 55,00,000 Equity Shares at a price of Rs 100 per share (inclusive of premium of Rs 90 per share), aggregating Rs 55,00,00,000. On 03 February 2016, the Bank had allotted 48, 00,325 Equity Shares at a price of Rs 100 per share (inclusive of premium of Rs 90 per share), aggregating Rs 48,00,32,500. On 18 February 2016, the Bank had allotted 10,70,032 Equity Shares at a price of Rs 100 per share (inclusive of premium of Rs 90 per share), aggregating Rs 10,70,03,200. During the fiscal 2016, the total deposits of the Bank stood at Rs 14,438.40 Crore, registering a negative growth to the tune of Rs 36.09 Crore, compared to previous year level of Rs 14474.49 crore. The negative growth is attributable to the conscious de-risking policy adopted by the Bank in FY16 of shedding high cost corporate deposits to the tune of Rs 1006.70 Crore. During the FY2016, the Bank's net advances decreased to Rs 7,852.65 Crore against Rs 9,469.40 Crore in the previous year. As on 31 March 2016, the bank has a distribution network of 429 branches and 240 ATMs across the country. During the FY2017, on 25.10.2016, the Bank has allotted 92,54,100 Equity Shares on Preferential basis for an issue price of Rs 120 per share (Rs 10/- towards share capital & Rs 110 towards share premium) and mobilized Rs 111,04,92,000. During the FY2017, Bank's total deposits have increased by Rs 473.16 crore and reached Rs 14911.56 crore as compared to Rs 14438.40 crore in the previous year. During this period, the Bank's net advances increased to Rs 8,118.93 crore as against Rs 7,852.65 crore in the previous year. As on 31 March 2017, the bank has a distribution network of 426 branches and 257 ATMs across the country. During the FY2018, Bank's total Assets have decreased by Rs 353.18 crore and stood at Rs 15870.05 crore as compared to Rs 16,223.24 crore in the previous year. The Bank's total deposits have decreased by Rs 220.91 crore and stood at Rs 14,690.65 crore as compared to Rs 14,911.56 crore in previous year 2017. However Bank's Net Advances have increased by Rs 1,218.42 crore and reached Rs 9,337.36 crore as against Rs 8,118.93 crore in the previous year. As on 31 March 2018, the bank has a distribution network of 421 branches and 254 ATMs across the country. Pursuant to approval accorded by shareholders by way of special resolution passed in the Extraordinary General Meeting of the Bank held on 21 March 2018 and in terms of Reserve Bank of India approval vide etter DBR.PSBD.No.341/16.1.060/2018-19 dated 12 July 2018 and approval of Department of Financial Services of the Ministry of Finance, Government of India vide letter No. F.No.26/5/2018-BOA dated 09 October 2018, the Bank on 19 October 2018 allotted an aggregate number of 1,98,32,130 Equity Shares of Rs 10 each at an issue price of Rs 140 per share (including premium of Rs 130 per share) and 6,64,63,329 Warrants compulsorily convertible into or exchangeable for Equity Shares of Rs 10 each at an issue price of Rs 140 (including premium of Rs 130 per warrant) to FIH Mauritius Investments Ltd(FIHM). Equity shares were allotted on a partly paid up basis and received Rs 35 per share upfront, aggregating of Rs 694,124,550/-. Warrants were allotted on a partly paid up basis and received Rs 56 per warrant upfront, aggregating of Rs 3,72,19,46,424 and thereafter on 20 March 2019 received Rs 42 per warrant as first call aggregating of Rs 27,91,459,818. The Bank, as on 31 March 2019, has received an amount aggregating of Rs 7,207,530,792 by allotting Warrants and Shares to FIH-M. FIHM is holding 5.77 % in the paid up capital of the Bank and in terms of issued capital, the same is 19.68%. The said percentage will go up to 51 % on a fully diluted basis, post conversion of warrants into equity shares and partly paid up equity shares be made fully paid up. FIHM is an investment holding company incorporated under the laws of Mauritius. FIHM is wholly owned by Fairfax India Holdings Corporation ('FIHC'), an entity listed on the Toronto Stock Exchange. Fairfax Financial Holdings Limited ('FFH/Fairfax'), through its subsidiaries (collectively the 'Fairfax Group'), controls 93.7% of the voting shares of FIHC. FFH is also an entity listed on the Toronto Stock Exchange. During the FY2019, Bank's Total Assets have increased by Rs 1041.11 crore and stood at Rs 16911.16 crore as compared to Rs 15870.05 crore in the previous year. The Bank's Aggregate deposits as at 31 March 2019 stood at Rs 15123.87 Crore, as compared to previous year level of Rs 14690.65 Crore. During this period, the Bank's net advances increased to Rs 10615.24 crore as against Rs 9337.36 crore, registering 13.69% growth YoY in the previous year. As on 31 March 2019, the bank has a distribution network of 419 branches and 277 ATMs across the country. The financial year 2019-20 turned out to be one of the important milestone years in the corporate history of the Bank. The Bank successfully completed its Initial Public Offering (IPO) to the tune of Rs 409.676 crore which received an overwhelming response from the investors and the issue was subscribed overall by 86.92 times. The Public Issue of 21,009,067 equity shares of Rs 10 each of the Bank for cash at a price of Rs 195 per equity shares including a share premium of Rs 185 per equity share aggregating to Rs 409.676 crore comprised of a Fresh Issue of 1,230,769 equity shares of the Bank aggregating to Rs 23.999 crore and an Offer for Sale of 19,778,298 equity shares by the existing members of the Bank aggregating up to Rs 385.676 crore. The equity shares of Bank were listed and admitted for dealings on BSE Limited ('BSE') and National Stock Exchange Limited ('NSE') with effect from 04 December 2019. The Bank on receipt of approval of the shareholders by postal ballot on 04 May 2019, approached Registrar of Companies, Kerala to effect the change of name of the Bank from The Catholic Syrian Bank Limited' to CSB Bank Limited'. The Registrar of Companies, Kerala, issued Certificate of Incorporation pursuant to change of name on 10 June 2019 and accordingly, the change of name has been effective from the said date. The Reserve Bank of India, vide letter dated 28 June 2019, granted fresh license to carry on banking business in India, in lieu of the old license, consequent upon the change of name of the Bank. Reserve Bank of India, vide circular dated 17 October 2019, advised about notification of the change of name of the Bank from The Catholic Syrian Bank Limited' to CSB Bank Limited' in the second schedule to the Reserve Bank of India Act, 1934 with effect from 10 June 2019 by Notification DBR.PSBD.No.503/16.01.160/2019- 20 dated 17 July 2019 published in the weekly gazette (Part III-Section 4). During the fiscal 2020, Bank's total assets increased to Rs 18,864.24 crore as compared to Rs 16,911.16 crore in FY19 showing a y-o-y growth of 11.55%. The Bank's Aggregate deposits at the end of FY20 stood at Rs 15,790.68 crore, as against to previous year level of Rs 15,123.87 crore, registering a y-o-y growth of 4.41%. The Financial year 2019-20 has been a year of strategic development through well-made rational decisions. Bank closed/merged its 13 branches, but expanded its outreach to the customers by opening 10 new branches and 23 ATMs at various places across the country. As on 31 March 2020, the Bank has 417 branches including 3 service branches, 3 Asset Recovery Branches and 300 ATMs spread across the country. As on 31 December 2020, the bank has a network of 460 branches (including of 3 service branches and 3 Asset Recovery branches) and 319 ATMs spread across the country.

CSB Bank Ltd Directors Reports

Dear Shareholders,

Your Directors are immensely pleased to present the 98th Annual Report together with the Audited Statement of Accounts of the Bank for the financial year ended 31st March, 2019.

Business Overview

In the FY 2018-19, the Bank has reported an Operating Profit of Rs. 13.36 crore as against Rs. 74.33 crore in FY 2017-18. The reduction was due to increase in operating expenses mainly on account of incremental provisioning for retirement benefits of employees. The Bank has reported a Net Loss of Rs. 197.42 crore in FY 2018-19 as against Net Loss of Rs. 97.47 crore in FY 2017-18. The increase in Loss was mainly on account of increase in operating expenditure and accelerated provision made for Non-Performing Assets and depreciation on investments.

Net Interest Income (NII) increased to Rs. 439.95 crore in FY 2018-19 as against Rs. 384.81 crore in FY 201718. Non-Treasury Other Income increased to Rs. 127.92 crore in FY 2018- 19 from Rs. 122.70 crore in FY 20172018.

Total Assets have increased by '1041.11 crore and stood at Rs. 16911.16 crore as on 31st March, 2019 (' 15870.05 crore as on 31st March, 2018). Total Deposits have Increased by Rs. 433.22 crore and stood at Rs. 15123.87 crore as on 31st March, 2019 (' 14690.65 crore as on 31st March, 2018). Net Advances have increased by Rs. 1277.87 crore and reached '10615.23 crore as on 31st March, 2019 (' 9337.36 crore as on 31st March, 2018).

There is no change in the nature of business of the Bank for the year under review.

Financial Summary

The financial performance of the Bank for the fiscal 2018-19 is as given below:

Particulars March 31st 2019 March 31st 2018
Deposits 15123.87 14690.65
Borrowings-Tier II Bonds - 41.80
Net Advances 10615.24 9337.36
Total Assets/Liabilities 16911.16 15870.05
Net Interest Income (NII) 439.95 384.81
Non-Interest Income 135.92 125.42
Operating Profit/(Loss) 13.36 74.33
Provisions and Contingencies (Other than tax) 313.46 223.69
Profit / (Loss) before Tax (300.10) (149.36)
Provision for taxes (102.68) (51.89)
Net Profit /(Loss) (197.42) (97.47)
Add: Surplus/(Deficit) brought forward from last period (316.54) (219.07)
Amount available for appropriation (513.96) (316.54)
Appropriations
Statutory Reserve u/s 17 of the Banking Regulation Act, 1949. - -
Capital Reserve - -
Balance carried over to Balance Sheet (513.96) (316.54)
Key Performance Indicators
Capital Adequacy Ratio (CRAR)% Basel - II 16.77 9.92
Capital Adequacy Ratio (CRAR)% Basel - III 16.70 9.91
Earnings per share (in ') (23.73) (12.04)
Book value per share (in ') 108.79 109.81
Net Interest Margin% 2.51 2.32
Cost-Income Ratio% 97.68 85.43
Return On Assets (ROA)% (1.13) (0.59)
Return On Equity (ROE)% (26.13) (15.80)

In view of the loss reported for the period under review, the Board of Directors of the Bank expressed their inability to recommend a dividend for the said period.

Material Changes and Commitments affecting the Financial Position of the Bank

There are no material changes and commitments, affecting the financial position of the Bank which has occurred between the end of the financial year of the Bank i.e. March 31st, 2019 and the date of the Directors' Report i.e., May 23,2019.

Paid-up Capital and Reserves

As on March 31st, 2019, the Paid-up Equity Capital of the Bank stood at Rs. 85.92 crore comprising Rs. 80,962,082 fully paid-up Equity Shares of Rs. 10/- each and 19,832,130 partly paid-up Equity Shares of which '2.50 paid up per share.

The free reserves and surplus stood at Rs. 879.95 crore as on March 31st 2019 as against Rs. 794.52 crore as on March 31st 2018.

Capital Adequacy

As per the Basel II Capital Adequacy Framework, the Capital to Risk Weighted Assets Ratio (CRAR), as assessed by the Bank as on 31st March 2019, is 16.77%. This is much higher than the minimum CRAR of 10.875% stipulated by the Reserve Bank of India. The Tier I CRAR stood at 16.09%, well above the minimum of 7%. As per the Basel III Capital Adequacy Framework, the Capital to Risk Weighted Assets Ratio (CRAR), as assessed by the Bank as on 31st March 2019, is 16.70 %. This is much higher than the minimum CRAR of 10.875% stipulated by the Reserve Bank of India. The Tier I and Common Equity CRAR stood at 16.03%, well above the minimum of 7% and 5.5%.

Allotment of equity shares and warrants on preferential allotment basis to FIH Mauritius Investments Ltd(FIHM).

Pursuant to approval accorded by shareholders by way of special resolution passed in the Extraordinary General Meeting of the Bank held on March 21, 2018 and in terms of Reserve Bank of India approval vide letter DBR.PSBD.No.341/16.1.060/2018-19 dated July 12, 2018 and approval of Department of Financial Services of the Ministry of Finance, Government of India vide letter No. F.No.26/5/2018-BOA dated October 9, 2018, the Bank on October 19, 2018 allotted an aggregate number of 1,98,32,130 Equity Shares of Rs. 10 each at an issue price of '140 per share (including premium of Rs. 130 per share) and 6,64,63,329 Warrants compulsorily convertible into or exchangeable for Equity Shares of Rs. 10 each at an issue price of Rs. 140 (including premium of Rs. 130 per warrant) to FIH Mauritius Investments Ltd(FIHM).

Equity shares were allotted on a partly paid up basis and received '35 per share upfront, aggregating of Rs. 694,124,550/-. Warrants were allotted on a partly paid up basis and received '56 per warrant upfront, aggregating of Rs. 3,72,19,46,424 and thereafter on March 20, 2019 received Rs. 42 per warrant as first call aggregating of Rs. 27,91,459,818. Bank, as on March 31, 2019, has received an amount aggregating of '7,207,530,792 by allotting Warrants and Shares to FIH-M.

Partly paid up equity shares shall be made fully paid up and conversion of warrants into equity shares shall be completed as per the terms of Reserve Bank of India approval and as per the terms of the private placement Offer letter dated October 16, 2018.

FIHM is holding 5.77 % in the paid up capital of the Bank and in terms of issued capital, the same is 19.68%. The said percentage will go up to 51 % on a fully diluted basis, post conversion of warrants into equity shares and partly paid up equity shares be made fully paid up.

FIHM is an investment holding company incorporated under the laws of Mauritius. FIHM is wholly owned by Fairfax India Holdings Corporation ("FIHC"), an entity listed on the Toronto Stock Exchange. Fairfax Financial Holdings Limited ("FFH/Fairfax"), through its subsidiaries (collectively the "Fairfax Group"), controls 93.7% of the voting shares of FIHC. FFH is also an entity listed on the Toronto Stock Exchange.

FIHM's investment in the Bank is in tune with Reserve Bank of India vide Master Direction No.DBR.PSBD.

No.56/16.13.100/2015-16 dated November 19, 2015 on 'Prior approval for acquisition of shares or voting rights in Private Sector Banks and Reserve Bank of India Master Direction DBR. PSBD. No. 97/16.13.100/2015- 16 May 12, 2016 on 'Ownership in Private Sector Banks, Directions, 2016.

Change of name of the Bank

Present name of the Bank 'The Catholic Syrian Bank Limited' has been a local oriented brand name. Besides, many foreign institutions who are dealing with the Bank, misconstrue that the Bank has a foreign orientation. Bank feels that a name which is widely acceptable and recognisable across, would be appropriate in many ways. Considering the expansion plan envisaged, filled with substantial opportunities, both within the country and abroad, a name well acceptable across would be appropriate especially in the context of transformation initiatives in the realms of product, people, process, place and most importantly, in perception. In this context, the Board of Directors considered the proposal to change the name of the Bank from 'The Catholic Syrian Bank Limited' to 'CSB Bank Limited'. Reserve Bank of India vide letter DBR. PSBD. No. 8231/16.01.060/2018-19 dated April 1, 2019 had conveyed their 'no objection' in terms of Section 49B of the Banking Regulation Act, 1949 to the change of name of the bank from "The Catholic Syrian Bank Limited" to "CSB Bank Limited". Bank also obtained approval of shareholders vide postal ballot resolution dated May 4, 2019. This process will be completed once a fresh certificate of incorporation effecting the change of name is issued by Ministry of Corporate Affairs In terms of Section 13 of the Companies Act, 2013 and Reserve Bank of India carries out the necessary changes in the Banking license to effect the change of name as 'CSB Bank Limited'.

Issue of Equity Shares with Differential Voting Rights

As on the date of this Report, the Bank has not issued any equity shares with differential voting rights.

Issue of Sweat Equity Shares

As on the date of this Report, the Bank has not issued any sweat equity shares.

Employees Stock Option Schemes

1. CSB Employees Stock Option Scheme 2013

Pursuant to the requisite approval of the members on August 18, 2014, the Bank formulated a stock option scheme called "CSB Employees Stock Option Scheme 2013" ("ESOS 2013" or "Scheme"). The scheme is to offer long-term share based employee benefits as performance incentive to select employees, enable value creation for shareholders by aligning employees' interests with that of the Bank, and to attract, retain, and motivate high quality talent.

The scheme will be administered by the Nomination & Remuneration Committee of the Board. Under the Scheme, the Bank can offer, issue and allot Equity Shares not exceeding 5% of the issued Equity Shares of the Bank at any point of time.

No options have been granted during the financial year 2018-19.

Against the options granted in the earlier year, for a term of 10 years (including vesting period) and against those options remaining in force, an equal number of equity shares will be allotted to the beneficiary upon exercise of the option, within the said period. As on date, no options vested have been exercised by the beneficiaries.

The disclosure required as per rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014 in respect of the stock options granted by the Bank forms part of this report as Annexure-I.

2. CSB Employees Stock Option Scheme 2019

Pursuant to the requisite approval of the members on May 4, 2019, the Bank has formulated a stock option scheme called "CSB Employees Stock Option Scheme 2019" ("ESOS 2019" or "Scheme").

The scheme is intended to promote the culture of employee ownership and as well as to attract, retain, motivate and incentivize talents in the Bank. The Scheme shall be administered through an employee stock option trust ("ESOS Trust") in the nature of an irrevocable employee welfare trust in due compliance

with the applicable laws. Under the Scheme, the Bank can allot a maximum of 50 lakh shares to the Trust, over a period of time. Under the trust route, the Bank allots shares to the trust and trust will transfer the shares to the eligible employees at the time of exercise of option by eligible employees on meeting terms of grant fixed by the Nomination & Remuneration Committee. In case of trust route of issuance of ESOPs, the trust on its own will not have funds to be able to acquire the shares from the Bank as the trust is not a business trust and is specifically created with the objective of issuance of ESOPs to the employees. Trust has to find out other avenues for sourcing of fund for purchasing shares from the Bank. In terms of Section 20 of the Banking Regulation Act, 1949, the Bank cannot lend to trust to purchase its own shares.

No options have been granted under the scheme and, hence, no disclosure is required to be made in terms of rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014.

Buy-Back of Shares or Provision of Financial Assistance for purchase of the Bank's Shares.

The Bank has not effected any buy-back of its shares or provided any financial assistance for purchase/ subscription of its shares, to any persons including directors and employees of the Bank in terms of Section 67 of the Companies Act, 2013.

Redemption of CSBL Bonds

CSBL Bonds - 2012 - Series-I aggregating of '41.80 crore, were due for redemption on March 31, 2019 and the same was redeemed on March 30, 2019 as per FIMMDA directives/guidelines in view of March 31, 2019 being a Public holiday.

The said bonds were listed in the National Stock Exchange of India. 'CARE' Rating reassigned a rating of the said bonds to 'CARE A Minus' (A-) from 'CARE BBB Minus (BBB-) during the period under review and the same rating was continued till redemption. CARE vide letter May 10, 2019 had withdrawn their rating for the above referred Bond in view of redemption of the said bonds as per the terms of issue.

M/s. Indian Overseas Bank, Merchant Banking Division, Anna Salai, Chennai-600 002 was the debenture trustees to the above said bonds.

Deposits

Being a banking company, the disclosures required as per Rule 8(5)(v)&(vi) of the Companies (Accounts) Rules, 2014, read with Sections 73 and 74 of the Companies Act, 2013 are not applicable to our Bank.

Subsidiary Company

The Bank does not have any subsidiaries, joint ventures or associate companies. There are no companies which have become or ceased to be its Subsidiaries, joint ventures or associate companies during the year under review.

Risk Management Policy

The Bank has a comprehensive policy framework which contains separate policies for identification, measurement, monitoring & control and mitigation of all material risks including but not limited to credit, market, operational, liquidity and other Pillar- II risks. The Bank has put in place an integrated risk management policy which ensures independence of the risk governance structure. The risk management policy details the principles, rules and guidelines to be adopted by the Bank for managing and controlling various kinds of risks through various sub-policies. The policies are implemented in an uninterrupted, reliable and comprehensive manner across the entire bank. The details of risk management practices are provided in Management Discussion and Analysis Report annexed to the Director's Report.

Vigil Mechanism

Bank has put in place a Whistle Blower Policy / Vigil Mechanism to report concerns about unethical behaviour, actual or suspected fraud and othe' As per the Policy /Mechanism, Directors and employees of the Bank, customers, stakeholders, NonGovernmental Organizations (NGO) and members of general public can lodge complaints / disclosures. Besides, the Audit Committee of the Board shall oversee the vigil mechanism through the Committee processes and the Chairman of Audit Committee shall directly hear grievances of victimisation of employees and directors, who used vigil mechanism to report genuine concerns. The Bank affirms that no employee has been denied access to the Audit Committee of the Board under the Whistle Blower/ Vigil Mechanism in the Bank.

A topic on Whistle Blower Policy is available in the Bank, and Ethics & Code of conduct has been included in every session of the training programme conducted at the Bank's staff training college for enhancing awareness of fraud risk and for promoting a culture of compliance among the employees. Preventive measures for enhancing awareness of fraud risk and for promoting a culture of compliance among the employees, preventive vigilance audits, vigilance workshops, caution advises describing modus operandi of frauds occurring in banking industry, etc., are being taken/implemented.

Management Discussion and Analysis

The Management Discussion and Analysis Report for the year under review is presented in a separate section forming part of this Annual Report.

Internal Financial Control Systems and their adequacy

Bank has implemented adequate procedures and internal control systems which provide reasonable assurance regarding reliability of financial reporting and preparation of financial statements. Bank is operating in a fully computerized environment with Core Banking System supported by diverse application platforms for handling special business such as treasury, trade finance, retail loans, etc. The process of recording of transactions in each application platform is subject to various forms of control such as in-built system checks, maker - checker authorisations and independent post transaction reviews etc. The financial statements are prepared based on computer system outputs. Responsibility of preparations of financial statements is entrusted to a dedicated unit which is independent of business. Bank has implemented adequate procedures and internal controls which provide reasonable assurance regarding reliability of financial reporting and preparation of financial statements and were operating effectively during the year.

Divergence in asset classification and provisioning

Divergence observed by the Reserve Bank of India for financial year 2017-18 in respect of bank's asset classification and provisioning under the extant prudential norms on income recognition, asset classification and provisioning does not exceed the limit prescribed under RBI circular DBR.BP.BC. No. 63/21.04.2018/2016-17 dated April 18, 2017 and DBR.BP.BC.No. 32/21.04.2018 dated April 1, 2019 on "Divergence in the Asset Classification and Provisioning."

Update on IND AS Implementation

The Institute of Chartered Accountants of India had issued IND AS (a revised set of accounting standards) which largely converges the Indian accounting standards with International Financial Reporting Standards (IFRS). The Ministry of Corporate Affairs (MCA) had notified these accounting standards (IND AS) for adoption in 2015 and issued the roadmap for implementation of new Indian Accounting Standards (IND AS) in January 2016. Banking companies, were required to implement Indian Accounting Standards (IND AS) from April 1, 2018 onwards, with comparatives for the year beginning April 1, 2017. RBI vide First Bimonthly Monetary Policy 2018-19 on April 5, 2018 had deferred the implementation of IND AS by one year pending necessary legislative amendments to the Banking Regulation Act, 1949 as also the level of preparedness of many bank. RBI vide Circular DBR. BP.BC.No.29/21.07.001/2018-19 dated March 22, 2019 has further deferred the implementation of IND AS till further notice as the legislative amendments recommended by the Reserve Bank of India was under consideration of the Government of India.

The Bank had commenced the process of IND AS implementation from FY 2016-17 itself. As per RBI Directions, the Bank has taken the following further steps towards implementation of IND AS during the year 2018-19:

(a) Submitted quarterly Performa IND AS financial statements, for the quarters ended March 2018, June 2018, September 2018 and December 2018 as required by RBI.

(b) The Bank will continue its preparedness towards migration to IND AS as per regulatory requirement and to liaise with RBI and industry bodies on various aspects pertaining to IND AS implementation.

Corporate Governance

The Bank continues its endeavour to adopt the best prevalent Corporate Governance Practices.

A separate section on Corporate Governance standards followed by the Bank is enclosed as an Annexure to this report. The report on Corporate Governance also contains certain disclosures required under the Companies Act, 2013.

Particulars of Loans, Guarantees or Investments by the Bank

Pursuant to Section 186 (11) of the Companies Act, 2013, the provisions of Section 186 of Companies Act, 2013, except sub - section (1), do not apply to a loan made, guarantee given or security provided or any investment made by a banking company in the ordinary course of business.

The particulars of investments made by the Bank are disclosed in Schedule 8 of the Financial Statements as per the applicable provisions of Banking Regulation Act, 1949.

Particulars of contracts or arrangements with related parties

All transactions with related parties were entered/ reported during the financial year is in the ordinary course of business. However, no comparable data were available so as to establish such transactions were on arm's length basis, the Bank has obtained requisite approvals for the said transactions as prescribed in the section 188 of the Companies Act, 2013, as amended and Rule 15 of the Companies (Meetings of Board and its Powers) Rules, 2014. Bank has also obtained omnibus approval of the Audit Committee for the transaction under 188 of the Companies Act, 2013 and Rule 6A of the Companies (Meetings of Board and its Powers) Rules, 2014, though no transaction were consummated during the period ended March 31, 2019 .

There were no materially significant related party transactions with the Company's Directors, Management or their relatives, which could have had a potential conflict with the interests of the Company.

As per the policy on dealing with Related Party Transactions, Audit Committee shall review, at least on a quarterly basis, the details of Related Party Transactions entered into by the Company pursuant to each of the omnibus approval given and such omnibus approvals shall be valid for a period not exceeding one financial year and shall require fresh approvals after the expiry of such financial year.

Bank has formulated a policy on materiality of related party transactions and also on dealing with related party transactions pursuant to the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations,2015.Thesameisdisplayed on the website of the Bank at https://csb.co.in/pdf/ PolicyondealingwithRelatedPartyTransactionnew.pdf

The particulars of contracts or arrangements with related parties entered into during the year under review in terms of Section 188(1) of the Companies Act, 2013 are provided in Form AOC-2 as Annexure -II in terms of 134(3)(h) of the Companies Act, 2013.

Corporate Social Responsibility (CSR)

In terms of the requirements of Section 135 of the Companies Act, 2013 and CSR Rules 2014, the Bank has set up a Board-level CSR Committee to look after the CSR initiatives of the Bank.

The Corporate Social Responsibility Committee, shall (a) formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013, (b) recommend the amount of expenditure to be incurred on the activities as part of the CSR activities of the Bank and, (c) monitor the Corporate Social Responsibility Policy of the Bank from time to time.

CSR Policy of the Bank will guide and govern the Bank's activities in focus areas namely rural development and inclusiveness and other areas of special interest. Bank continued with CSR activity during the period under view in a limited way though it was not mandatory to spend for the said period in terms of Section 135 of the Companies Act, 2013 and CSR Rules 2014. As a responsible citizen, the Bank will continue with a slew of measures for fulfilment of its commitment to the society as a whole.

The brief outline of the CSR Policy, overview of the programs undertaken by the Bank, the composition of the CSR Committee, prescribed CSR expenditure and details of the amounts spent by the Bank on CSR activities during the year under review, have been provided in Annexure - III to this report.

Auditors

a) Statutory Auditors

The Statutory Central Auditors viz. "M/s. R G N Price & Co", Chartered Accountants, Kochi, who were appointed at the 97th Annual General Meeting held on September 29, 2018 will be retiring at the ensuing Annual General Meeting, and are eligible for reappointment as per the guidelines of the Reserve Bank of India (RBI).

Bank has received the consent from "M/s. R G N Price & Co", Chartered Accountants, Kochi, and confirmation to the effect that they are not disqualified to be appointed as the Statutory Central Auditors of the Bank in terms of the provisions of the Companies Act, 2013 and rules made here under. Accordingly, the Board of Directors recommended the re-appointment of "M/s. R G N Price & Co", Chartered Accountants, Kochi, as the Statutory Central Auditors of the Bank, for a fourth term, to hold office from the conclusion of the ensuing Annual General Meeting till the conclusion of the next Annual General Meeting on remuneration to be decided by the Board or Committee there of subject to the approval of Reserve Bank of India and share holders' approval.

There are no Audit qualifications in the Statutory Auditors' Report, which is annexed elsewhere in this Annual Report.

b) Secretarial Auditors and Secretarial Audit Report

Pursuant to Section 204 of the Companies Act 2013, the Bank appointed "M/s SVJS & Associates", Company Secretaries, Kochi as its Secretarial Auditors to conduct the secretarial audit of the Bank for the Financial Year 2018-19. The Report of Secretarial Auditor for the said period is annexed to this report as Annexure -IV.

There are no Audit qualifications in the Secretarial Audit Report.

Compliance to Secretarial Standards

The relevant Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI) related to the Board Meetings and General Meeting have been complied with by the Bank.

Transfer of Un-claimed/Un-paid dividend to Investor Education and Protection Fund (IEPF)

Dividend transferred to Unpaid Dividend account and remaining unpaid or unclaimed for a period of seven years from the date of such transfer, has to be transferred to Investor Education and Protection Fund as per Section 124 (5) of the Companies Act, 2013.

In compliance with above, on November 03, 2018, the Bank had transferred Rs. 8,40,015/- to the above Fund, being the unclaimed dividend for the financial year 2010-11.

Transfer of Equity shares to Investor Education Protection Fund Authority

In terms of the provisions of the Section 124(6) of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, (as amended) and other applicable rules, notifications and circulars,

if any, every company is required to transfer the shares, in respect of which dividend remains unpaid / unclaimed for a period of seven (7) consecutive years, to the Investor Education Protection Fund (IEPF) Authority.

To comply with the above, the Bank had on November 12, 2018 transferred 97,712 shares, comprising of 633 folios/records, to Investor Education and Protection Fund Authority through the CDSL, in respect of which dividend was not claimed for consecutive 7 years from the date of transfer to unpaid dividend account of the Bank for the respective year(s).

Compensation/ Remuneration Policy

The Bank has formulated a Compensation/ Remuneration Policy which deals with the Compensation & Benefits of the employees of the Bank and Directors including Part-time Chairman, Managing Director & CEO, Executive and NonExecutive Directors The details of the same have been included in the Report on Corporate Governance, which forms part of this Report.

Nomination Policy

Bank had adopted policy for appointment of Parttime Chairman, Managing Director & CEO, Directors, Key Managerial Personnel and Senior Management team in the Bank. The details of the same have been included in the Report on Corporate Governance, which forms part of this Annual Report.

The Nomination policy is displayed on the website of the Bank at: https://csb.co.in/pdf/NominationPolicy. pdf

Details of Directors/Employees Remuneration

The details of Directors/Employees remuneration, etc., as required under Sec 197(12) of the Companies Act, 2013, read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms part of this Report as Annexure-V.

Besides, the details of remunaration paid to the Managing Director and CEO, Directors and Key Managerial Personnel forms part of this report as Annexure-VI.

Board of Directors

The composition of the Board of Directors is governed by the Banking Regulation Act, 1949 and the Companies Act, 2013 and in accordance with the best practices in corporate governance. As on the date of this report, the Board comprises of Seven Directors The directors possess rich experience and specialized knowledge in various areas of relevance to the Bank.

The Board functions as the governing body and also through various Committees constituted to oversee specific areas. Policy formulation, setting up of goals, evaluation of performance and control functions vest with the Board. The Committees have oversight of operational and supervisory issues assigned to them by the Board, from time to time.

Appointment of Non-executive Directors

Mr. Madhavan Menon (DIN : 00008542) and Mr. Sumit Maheshwari (DIN: 06920646) were appointed as additional directors on September 3, 2018 and appointed as Non-executive Directors of the Bank at the 97th Annual General Meeting held on September 29, 2018.

Appointment of Independent Directors

Mrs. Bhama Krishnamurthy (DIN: 02196839) was appointed as an additional director on September 3, 2018 and appointed as Independent Director of the Bank for a period of three years at the 97th Annual General Meeting held on September 29, 2018.

Mr. Madhavan Aravamuthan (DIN: 01865555)

was appointed as an Additional Director (NonExecutive, Independent) on the Board of the Bank w.e.f. December 13, 2018 to hold office till the conclusion of the next Annual General Meeting and subject to the approval of the members in the ensuing General Meeting for appointment as an Independent Director to hold office for a term up to 3 (three) consecutive years from the date of ensuing general meeting. Necessary resolution seeking approval of the members in this connection forms part of the notice of the ensuing Annual General Meeting.

Mr. S. Nagoor Ali Jinnah (DIN : 05238633) was appointed as an Additional Director (Non- Executive, Independent) on the Board of the Bank w.e.f. March

06, 2019 for a period of three 3 (three) years, subject to the approval of Shareholders in terms of the provisions of Section 149 and 161 of the Companies Act, 2013 and Rules made thereunder. Necessary resolution seeking approval of the members in this connection forms part of the notice of the ensuing Annual General Meeting.

Independent Directors- Compliance status

The Bank fully satisfies the requirements of section 149 of the Companies Act, 2013 as regards the appointment of Independent Directors and the following Directors are Independent Directors of the Bank as on the date of this report.

1. Mr. Thomas Mathew (DIN: 01277149)

2. Mrs. Bhama Krishnamurthy (DIN: 02196839)

3. Mr.Madhavan Aravamuthan (DIN: 01865555)

4. Mr. S. Nagoor Ali Jinnah (DIN : 05238633)

The performance of the Independent Directors is subject to evaluation as per Section 149(8) of the Companies Act, 2013 and read with Schedule IV to the said Act.

All Independent Directors have confirmed having complied with the criteria of independence as provided in 149(6) of the Companies Act, 2013 and in the opinion of the board, the independent directors fulfil the conditions specified in these regulations and are independent of the management.

The second consecutive tenure of appointment of Mrs. Radha Unni, Mr. Madhavan Nambiar M and Mr. Bobby Jos C as independent Directors of the Bank ended September 26, 2018 and accordingly they ceased to be Independent Directors with effect from September 27, 2018.

The Board places on record its appreciation of the commendable services and guidance rendered by Mrs. Radha Unni, Mr. Madhavan Nambiar M and Mr. Bobby Jos C during their tenure as Independent Directors of the Bank.

Declaration by Independent Directors

The Bank received necessary declaration from each Independent Director under Sec 149(6) of the Companies Act, 2013 that they met the criteria of independence laid down in the Companies Act, 2013.

Familiarization Programmes of Independent Directors

All Independent Directors are familiar with their roles, rights and responsibilities in the Bank at the time of appointment and also on a recurrent basis. The details of various programmes undertaken for familiarizing the Independent Directors are disclosed in Corporate Governance Report, which forms part of this Annual Report.

Part-time Chairman

Mr. Madhavan Menon (DIN: 00008542) was appointed as Part-time Chairman of the Bank for a period of one year effective from April 22, 2019 in pursuant to section 10B(1A)(i) of the Banking Regulation Act, 1949.

Resignation of Directors

Mr. Alok Kochhar (DIN: 07336899) resigned as Independent Director of the Bank on March 6, 2019. Mr. Alok Kochhar tendered resignation voluntarily so as to accommodate another director on the Board, who would be qualified to represent the specified areas / sectors 'Agriculture and Rural Economy', thus bringing the Board to a complied position as far as Section 10A (2) (a) is concerned.

The Board places on record its appreciation of the commendable services and guidance rendered by Mr. Alok Kochhar during his tenure as Independent Director of the Bank.

RBI Nominee Directors

Term of appointment of Reserve Bank of India Nominee Directors, Mr. Subbaiah Singala and Mr. V.G. Venkatachalapathy ended on March 10, 2019 and March 13, 2019 respectively as per the terms of their appointment vide RBI orders DBR.PSBD.No. 10394/ 16.05.003/2016-17 dated March 9, 2017 and DBR. PSBD. No.10390/16.05.003/ 2016-17 dated March 9, 2017.

The Board places on record its appreciation of the valuable guidance and support extended by Mr. Subbaiah Singala and Mr. V.G. Venkatachalapathy during their tenure as Additional Director- RBI Nominee on the Board of the Bank.

Woman Director

In terms of the provisions of Section 149(1) of the Companies Act, 2013, the Bank is required to have at least one woman Director on the Board. Bank appointed Mrs. Bhama Krishnamurthy (DIN: 02196839) as a Director on the Board since September 3, 2018. The tenure of appointment of Mrs. Radha Unni was ended on September 26, 2018.

Directors Retiring by Rotation

In terms of Sec 152 of the Companies Act, 2013, Non-Executive Director, Mr Sumit Maheshwari (DIN: 06920646) shall retire by rotation and being eligible, offers him self for re-appointment at the ensuing Annual General Meeting (AGM).

Mr. Sumit Maheshwari was appointed as an Additional Director of the Bank with effect from September 03, 2018 under the Section 161(1) of the Companies Act 2013 and was regularized as the Director of the Bank at 97th AGM held on September 29, 2018, liable to retire by rotation.

The detailed profile of Mr. Sumit Maheshwari recommended for reappointment in ensuing Annual General Meeting is provided in the Notice of the Annual General Meeting for the benefit of shareholders as per the provisions of the Companies Act, 2013.

Appointment/ Changes in Key Managerial Personnel

Mr. C.VR. Rajendran, Managing Director & CEO, Mrs. V. Maheswari, Chief Financial Officer and Mr. Sijo Varghese, Company Secretary are the Key Managerial Personnel as per the provisions of the Companies Act, 2013.

There were no changes in the Key Managerial Personnel since the date of last year's report.

Board and its Committees Number of Meetings of the Board

Regular meetings of the Board are held to discuss and decide on various business policies, strategies and other businesses. Due to business exigencies, certain decisions are taken by Board through resolution passed by circulation from time to time.

The Board met Nineteen (19) times during the FY 2018-19. Detailed information on the meetings of the Board is included in the report on Corporate Governance, which forms part of this Annual Report.

Committees of the Board

The Bank has various sub-committees of the Board which have been formed as part of the best corporate governance practices and/or in compliance with the requirements of the relevant provisions of applicable laws and the regulatory prescriptions.

The Bank has the following Sub-Committees of the Board:

1. Audit Committee.

2. Nomination & Remuneration Committee.

3. Corporate Social Responsibility Committee.

4. Risk Management Committee.

5. IT Strategy Committee.

6. Stakeholders' Relationship Committee.

7. Customer Service Committee.

8. Management Committee.

9. NPA Management Committee.

10. Committee for Monitoring Large Value Frauds (CMF)

11. HR Committee.

12. IPO Committee

The details with respect to the compositions, powers, roles, terms of reference, etc. of the above Committees are given in detail in the 'Report on Corporate Governance' which forms part of this Annual Report.

Audit Committee

Audit Committee has been constituted in line with Section 177 of the Companies Act, 2013. The Committee consists of five members. The Committee is chaired by Mr. Thomas Mathew, Independent Director, who is a Chartered Accountant. The other members of the Committee are Mr. Madhavan Menon (Part-time Chairman), Mr. Madhavan Aravamuthan (Additional Director-Independent), Mrs. Bhama Krishnamurthy (Independent Director) and Mr. Nagoor Ali Jinnah (Additional Director- Independent).

The Committee discharges the functions laid down in the Companies Act, and those prescribed by the Reserve Bank of India. It also discharges the functions delegated by the Board of Directors from time to time. The ACB, which held eight meetings during the year, has been closely overseeing and monitoring the Internal Control System and Procedures, Inspection and audit functions including follow-up and compliance of inspection/audit reports. It has also interacted with the Auditors The ACB acts as an effective tier to the Board in the matters of inspection, audit and internal control system.

Annual evaluation of performance

In line with Board evaluation policy, Bank has put in place a criteria for annual evaluation of performance of Chairperson, Managing Director & CEO, Directors, Board Level Committees and the Board as a whole.

The performance of the members of the Board other than independent Directors and the Board as a whole have to be evaluated at the meeting of the Independent Directors

The performance of the independent Directors will be reviewed by the Board as provided for under Section 149(8) read with Schedule IV of the Companies Act, 2013.

The Statement indicating the manner in which formal annual evaluation of the Directors, Committees of the Board and the Board are given in detail in the report on Corporate Governance, which forms part of this Annual Report.

The Board evaluation policy is displayed on the website of the Bank at: https://csb.co.in/pdf/ PolicyonEvaluationoftheBoard.pdf

Particulars regarding Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

Considering the nature of activities of the Bank, with respect to the provisions of Section 134 (3) (m) of the Companies Act, 2013 relating to conservation of energy and technology adoption, the Bank is constantly pursuing and making all-out efforts to achieve the desired goals as contained in the Act.

a) Conservation of Energy

All attempts are being made to reduce energy consumption to the maximum extent possible. As part of these measures, a few branches/offices of the Bank have been using solar power, which is aimed at optimum utilisation of power in a cost-effective manner.

b) Technology Absorption

The required technology absorption is being made considering the nature of activities.

c) Foreign Exchange Earnings and Outgo

Foreign Exchange earnings and outgo are part of the normal banking business of the Bank. Being an Authorised Dealer in Foreign Exchange, the Bank has been taking all possible steps to augment export credit.

Disclosures under the Sexual Harassment of Women at the workplace (Prevention, Prohibition & Redressal), Act, 2013

As a part of Bank's ethos, Bank believes that all the employees of the Bank have the right to be treated with dignity and sexual harassment at workplace or other than workplace,is a grave offence and needs to be prohibited as a matter of policy & prevented with appropriate measures.

Bank has zero tolerance towards any action on the part of any employee which may fall under the ambit of 'Sexual Harassment' at workplace, and is fully committed to uphold and maintain the dignity of every woman working in the Bank. As per the Act, the Bank has taken steps for prevention of sexual harassment and protection of women from sexual harassment at the workplace and for prevention and for redressal of such complaints. In compliance with Section 4 of the Sexual Harassment of Women at the workplace (Prevention, Prohibition & Redressal), Act, 2013, Bank constitutes Internal Complaints Committee at workplace.

The disclosure required under section 22 of the Sexual Harassment of Women af the workplace (Prevention, Prohibition & Redressal) Act, 2013 are given below

Number of complaints pending as on the beginning of the financial year Nil
Number of complaints of sexual harassment received in the year 3
Number of complaints disposed off during the year 3
Number of complaints pending as on the end of the financial year Nil
Number of cases pending for more than ninety days Nil
Remedial measures taken by the company Conducted disciplinary proceedings against one officer and awarded punishment of compulsory retirement from the service. Other two cases, after conducting inquiry, the Committee, held that no case of sexual harassment at workplace was made out.
No of workshops or awareness programme against sexual harassment 14
Nature of action taken by employer/district officer The respondent was awarded with the punishment of compulsory retirement from the service of the Bank after initiating Disciplinary Proceedings as per the Catholic Syrian Bank Ltd Officer Employees (Discipline & Appeal) Regulation 1993

As a public employer, Bank is an equal employment opportunity corporation and is committed to creating a work environment that enables employees to work without fear of prejudice, gender bias and sexual harassment. Bank has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 during the period under review.

Other Disclosures

a) No significant and material orders were passed by the regulators or courts or tribunals impacting

the going concern status and Bank's operations in future.

b) During the year under report, there were no instances of frauds reported / reportable by the Auditors, to the Audit Committee, the Board of Directors or the Central Government under Section143(12) of the Companies Act, 2013.

c) The Bank has not entered into any materially significant transaction during the year, which could have a potential conflict of interest between the Bank and its directors, management and/or their relatives, etc. other than the transactions carried out in the normal course of business.

d) During the last 3 years, there were no penalties or strictures imposed on the Bank by the Stock Exchange(s) and/or SEBI and/or any other statutory authorities on matters relating to capital market activities.

e) Being a Banking Company, the Bank is not required to make and maintain such accounts and cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014.

f) During the FY 2018-19, RBI has imposed penalty of Rs 4 crore on the bank due to non-adherence to timeline for Time-bound implementation & strengthening of SWIFT related operational controls issued by Reserve Bank of India.

Annual Return

Pursuant to sub-section 3(a) of Section 134 and subsection (3) of Section 92 of the Companies Act, 2013, read with Rule 11 of the Companies (Management and Administration) Rules, 2014, the Annual Return as on March 31st, 2019 is displayed on the website of the Bank at:https://www.csb.co.in/pdf/Annual return.pdf

Directors' Responsibility Statement

Pursuant to the requirement under Section 134(3) (c) of the Companies Act, 2013, it is hereby confirmed that:

a. In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

b. The directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Bank at the end of the financial year and of the profit and loss of the Bank for that period.

c. The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Bank and for preventing and detecting fraud and other irregularities.

d. The directors have prepared the annual accounts on a going concern basis.

e. The directors have laid down internal financial controls to be followed by the Bank and that such internal financial controls are adequate and were operating effectively.

f. The directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Acknowledgements

The Board of Directors places on record its gratitude to the Reserve Bank of India, Ministry of Corporate Affairs, The Securities and Exchange Board of India, Department of Financial Services and other Government and regulatory authorities for their continued support and guidance.

The Board of Directors wishes to place on record its gratitude to the shareholders, bondholders and all business associates for their encouragement, support and assistance.

The Board of Directors wishes to place on record its appreciation for the dedicated services rendered by the members of the staff at all levels. The Board looks forward to their continued dedicated and sincere services to take the Bank to greater heights.

The Directors wish to record their deep sense of obligation and gratitude to all the customers and well-wishers of the Bank for their patronage, and look forward to continuing this mutually supportive relationship in future as well.

By Order of the Board
Sd/-
Madhavan Menon
Place: Mumbai Chairman
Date : May 23, 2019 (DIN:00008542)

   

CSB Bank Ltd Company Background

Madhavan MenonRajendran Veerappan Chinna
Incorporation Year1920
Registered OfficeP B No 502 CSB Bhavan,St Marys College Road
Thrissur,Kerala-680020
Telephone91-487-2333020/2338764,Managing Director
Fax91-487-2333170
Company SecretarySijo Varghese
AuditorR G N Price & Co/BSR & Co LLP
Face Value10
Market Lot1
ListingBSE,NSE,
RegistrarSKDC Consultants Ltd
Kanapathy Towers,3rd Flr 1391/A1,Sathy Road Ganapathy,Coimbatore - 641 006

CSB Bank Ltd Company Management

Director NameDirector DesignationYear
Rajendran Veerappan Chinna Managing Director & CEO 2020
Thomas Mathew Non-Exec. & Independent Dir. 2020
Aravamuthan Madhavan Non-Exec. & Independent Dir. 2020
Bhama Krishnamurthy Non-Exec. & Independent Dir. 2020
Sumit Maheshwari Non-Exec & Non-Independent Dir 2020
Sijo Varghese Company Secretary 2020
Sharmila Abhay Karve Non-Exec. & Independent Dir. 2020
Sudhin Choksey Addtnl Independent Director 2020
Madhavan Menon Chairman (Non-Executive) 2020

CSB Bank Ltd Listing Information

Listing Information
BSE_500
CNX500
BSESMALLCA
CNXSMALLCA
BSEALLCAP
BSEFINANCE
SML250
MSL400
BSEDFINRVG
NFTYMSC400
NFTYSC250

CSB Bank Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Interest/Discount on Advances Rs.0001162.1145
Income on investments Rs.000309.8661
Others Rs.00032.0509
Interest on balance with RBI Rs.0005.855

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