Moneycontrol
Last Updated : Jan 19, 2018 03:54 PM IST | Source: Moneycontrol.com

Kotak Mahindra Bank Q3: Standalone profit rises 20% to Rs 1,053 cr; asset quality improves

The private sector lender’s standalone net interest income (NII) rose to Rs 2,394 crore, up 17 percent from Rs 2,050 core during the corresponding quarter last year.

Kotak Mahindra Bank reported steady set of numbers for December quarter, where the standalone net profit rose to Rs 1,053 crore against Rs 880 crore that it posted during the same quarter last year, a rise of around 20 percent.

The private sector lender’s standalone net interest income (NII) rose to Rs 2,394 crore, up 17 percent from Rs 2,050 core during the corresponding quarter last year.

Meanwhile, the standalone net interest margin (NIM) came in at 4.2 percent.

On a consolidated basis, the bank’s PAT increased to Rs 1,624 crore, up around 28 percent from Rs 1,267 crore. Meanwhile, the NII came in 16 percent higher at Rs 3,186 crore against Rs 2,747 crore year on year.

Meanwhile, the asset quality has witnessed an improvement from the previous quarter.

The gross non-performing assets (NPAs) ratio was at 2.31 percent against 2.47 percent quarter on quarter, while net NPA ratio came in at 1.09 percent against 1.26 percent.

On an absolute basis, gross NPA came in at Rs 3,175 crore against Rs 3,814.2 crore quarter on quarter, while the net NPA came in at Rs 1,728 crore. The provisions too have been steady at Rs 213 crore against Rs 217 crore qoq.

The bank also posted loan growth at 23.1% YoY, while on QoQ basis, it was 4.3%.
First Published on Jan 19, 2018 01:06 pm

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