THE CATHOLIC SYRIAN BANK LIMITED

Registered Office: “CSB Bhavan”, St. Mary’s College Road, Post Box No. 502, Thrissur, Kerala– 680 020.
Tel: +91487 2333020 Fax: +91487 2338764, Website: www.csb.co.in; E-mail: [email protected]
Corporate Identity Number: U65191KL1920PLC000175
AUDITED FINANCIAL RESULTS FOR THE HALF YEAR AND YEAR ENDED 31 ST MARCH, 2019

(Rs in lakh)
Six Corresponding Year to date Previous
months six months in figures for accounting
ended the previous year current period year
PARTICULARS
31-Mar-19 31-Mar-18 31-Mar-19 31-Mar-18
(Audited) Refer Note (Audited) Refer Note
Audited Audited
11 11
1.Interest earned (a) + (b) + ( c) 70,850 63,754 1,34,752 1,29,681
(a) Interest/discount on advances/bills 50,582 46,330 96,862 91,281
(b) Income on investments 18,866 15,044 34,737 33,620
(c) Interest on balances with RBI, Other interbank funds and
RIDF 1,402 2,380 3,153 4,779
2.Other Income 9,714 5,871 13,592 12,542
3.Total Income (1+2) 80,564 69,624 1,48,343 1,42,222
4.Interest Expended 46,967 44,524 90,756 91,200
5.Operating Expenses (i) +(ii)+(iii) 33,108 22,009 56,251 43,590
(i) Employees Cost 23,329 14,192 38,443 28,690
(ii) Rent, taxes and lighting 2,533 2,340 5,059 4,591
(iii) Other operating expenses 7,247 5,477 12,750 10,309
6.Total Expenditure ((4+5) excluding provisions and
contingencies ) 80,075 66,534 1,47,007 1,34,790
7.Operating Profit (Loss) before provisions and Contingencies
(3-6) 489 3,091 1,336 7,432
8. Provisions (other than Tax) and contingencies 23,195 16,019 31,345 22,369
Of which provisions for Non-performing Assets/write off 19,367 14,042 26,172 19,107
9.Exceptional Items 0 0 0 0
10.Profit/ (Loss) from ordinary activities before tax (7-8-9) (22706) (12928) (30010) (14936)
11.Less: Tax Expense (7716) (4495) (10268) (5190)

12.Net Profit/ (Loss) from ordinary activities after tax (10-11) (14991) (8434) (19742) (9747)
13.Extraordinary items (net of Tax expense) 0 0 0 0
14.Net Profit / (Loss) for the period (12-13) (14991) (8434) (19742) (9747)
15.Paid-up equity share capital (Face Value of the share-Rs 10
per share) 8,597 8,101 8,597 8,101
(i) Rs. 10 Paid -Up equity share capital 8,101 8,101 8,101 8,101
(ii) Rs. 2.5 Paid -Up equity share capital 496 0 496 0
16.Share warrant 65,134 0 65,134 0
16.Reserves excluding Revaluation Reserves (as per balance
sheet ) 53,655 64,855 53,655 64,855
17.Analytical Ratios
(i) Capital Adequacy Ratio (Basel-III) 16.70% 9.91% 16.70% 9.91%
(a) CET 1 Ratio 16.03% 9.45% 16.03% 9.45%
(b) Additional Tier 1 Ratio 0.00% 0.00% 0.00% 0.00%
(ii) Earnings per Share (EPS) - Rupees- Not annualised (17.55) (10.42) (23.73) (12.04)
18 NPA Ratios
a) Gross NPA 53,062 76,413 53,062 76,413
Net NPA 24,068 41,629 24,068 41,629
b) % of Gross NPA 4.87% 7.89% 4.87% 7.89%
% of Net NPA 2.27% 4.46% 2.27% 4.46%
c)Return on Assets - Annualised -1.66% -1.03% -1.13% -0.59%

(Rs in lakh)
AS ON 31.03.2019 AS ON 31.03.2018
CAPITAL AND LIABILITIES Audited Audited
Capital 8,597.23 8,101.43
Share Warrants 65,134.06 -
Reserves and Surplus 69,437.99 80,801.82
Deposits 15,12,387.29 14,69,064.93
Borrowings - 4,180.00
Other Liabilities and Provisions 35,559.21 24,856.97
TOTAL 16,91,115.78 15,87,005.15

ASSETS
Cash and balances with Reserve Bank of India 72,540.54 67,789.50
Balances with banks and Money at call and short notice 24,822.52 53,723.90
Investments 4,02,761.16 4,11,395.08
Advances 10,61,523.73 9,33,735.64
Fixed Assets 21,772.88 21,611.76
Other Assets 1,07,694.95 98,749.27
TOTAL 16,91,115.78 15,87,005.15
Notes:
1) .The above results have been reviewed by the Audit Committee and have been approved and taken on record by the Board of Directors at their
respective meetings held on April 22, 2019.
2) The Statutory Auditors have audited the financial statement for the year ended 31st March 2019 and have issued an unmodified opinion thereon.

3) The working results for the year ended March 31, 2019 have been arrived at after considering the provision for standard assets including
requirements for exposures to entities with Unhedged Foreign Currency Exposures, Non Performing Assets , depreciation on investments, income
tax and other usual and necessary provisions, read along with note 5 to 8 below.
4 (a) 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 during the year has 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 Limited.

4 (b) In pursuance of the above approval, the Bank has received an amount of Rs. 35 per Equity Share aggregating to Rs. 69,41,24,550 towards
Application and Allotment money out of which Rs. 2.50 per Equity Share amounting to Rs. 4,95,80,325 is credited to Equity Share Capital and Rs.
32.50 per Equity Share amounting to Rs. 64,45,44,225 is credited to Share Premium. The balance amount receivable out of the issue price will be
called in one or more tranches as may be decided by the Board / Committee from time to time but not later than 12 months from the date of
allotment. The share issue expenses amounting to Rs. 87,76,499 representing stamp duty and filing fee is charged to the Profit and Loss Account

4 (c) In pursuance of the above approval, the Bank has also received an amount of Rs. 98 per Warrant aggregating to Rs. 651,34,06,242. The entire
proceeds are disclosed as Warrants in the Balance Sheet. The balance amount receivable out of the issue price will be called in one or more
tranches as may be decided by the Board / Committee from time to time but not later than 18 months from the date of RBI Approval. The warrants
shall be compulsorily convertible on payment of the final consideration and under any circumstances shall not exceed 18 months from the date of
Reserve Bank of India Letter dated July 12, 2018

5) Bank as a prudential measure decided to accelerate the provision for NPA. Though the provision requirements as on March 31, 2019 as per RBI
provisioning norms is Rs 169.61 Crores, considering the uncertainties about the recoverability within a reasonable timeframe, as a prudential
measure bank has decided to change the Accounting Policy and accelerate the provisioning from the current financial year. Had the bank not
accelerated the provisioning, provisions for NPA/write off would have been lower by Rs 92.11 Crores and loss before tax would have been lower by
Rs 92.11 Crores.
6) As per RBI Circular DBR. No.BP.BC.92/21.04.048/2015-16 dated April 18, 2016, in respect of provisioning pertaining to frauds, bank has the
option to make the provisions over a period, not exceeding four quarters commencing from the quarter in which the fraud has been detected and
debit other reserves in respect of amount remaining unprovided at the end of the financial year. However, as a prudential measure, Bank has opted
to charge the entire amount of such provisioning required to profit & loss account. Had the bank exercised the option to debit other reserves, loss
before tax would have been lower by Rs14.84 Crores.
7) The appreciation in value as on 31.03.2019 amounting to Rs 11.74 crores in respect of Security Receipt held by the bank has not been reckoned
while arriving at net depreciation of the portfolio as a prudential measure. Had the bank accounted the said appreciation, loss before tax would have
been lower by Rs 11.74 Crores.
8) As a cumulative effect of accelerated provisoning as mentioned in the items 5) ,6) and 7), loss before tax is higher by Rs.118.69 crore with
consequential impact on investments, reserves and surplus and advances.

9) In terms of RBI Circular DBOD.No.BP.BC.2/21.06.201/2013-14 dated 1st July, 2013, banks are required to make half yearly Pillar 3 disclosures
under Basel III capital disclosure requirements with effect from 30.09.2013. The bank has made these disclosures which are available on its website
at the link http://www.csb.co.in/basel-iibasel-iii-disclosures . These disclosures have not been subjected to audit by the Central Statutory Auditors of
the Bank.
10) Information relating to Total Comprehensive Income and Other Comprehensive Income are not furnished as IND AS is not yet made applicable
to banks.

11) The figures for the half year ended March 31, 2019 and March 31, 2018 represents the difference between the audited figures for the year ended
March 31, 2019 and March 31, 2018 and the reviewed figures for the half year ended September 30, 2018 and September 30, 2017, respectively.

12) Previous Period’s/Year’s figures have been regrouped/reclassified wherever necessary to correspond with the current year’s
classification/disclosure.
Kochi For and on behalf of the Board
22.04.2019

sd/-

C VR Rajendran
Managing Director & CEO