Kotak Mahindra Bank Managing Director and CEO Uday Kotak on July 29 said the bank will get "bolder" in unsecured retail finance going ahead.
During the year, the bank has undertaken a mindset shift to make retail and commercial lending focus, in addition to the corporate and deposit franchise, the veteran banker said in his message at the 2020-21 annual report.
"Home loans give us an opportunity to build a longer-term relationship with customers. And we will get bolder in unsecured retail finance too, for which we’ve kept our powder dry over the last two years," Kotak said.
Kotak Mahindra Bank on July 26 reported a 32 percent year-on-year (YoY) jump in standalone Q1FY22 net profit at Rs 1,641.92 crore against Rs 1,244.45 crore in Q1FY21.The number was slightly above a CNBC-TV18 poll of analysts which had estimated the bank's Q1 profit at Rs 1,595.5 crore for the quarter.