Kotak Mahindra Bank Q3 results: Profit at Rs 3,005 crore


Private sector lender Kotak Mahindra Bank on January 20 reported a net profit of Rs 3,005 crore for the quarter ended December 31, 2023, growing by 7.6 percent on a year-on-year (YoY) basis but falling short of analyst expectations of a Rs 3,243 crore profit.


Additionally, to comply with the Reserve Bank of India's (RBI) latest measures on alternative investment funds (AIF), the bank made a provision of Rs 143 crore.


Kotak Mahindra Bank's net profit for the quarter grew to Rs 3,005 crore, 7.6 percent up from Rs 2,792 crore in the corresponding quarter last year.


The lender's net interest income (NII) was at Rs 6,554 crore, higher than market estimations of Rs 6,434 crore. Net interest margin (NIM) of the lender came in at 5.22 percent for the quarter.


Segment wise, the lender’s home loan portfolio grew 15 percent to Rs 1.02 lakh crore from Rs 89,112 crore in the corresponding quarter last year. The credit card portfolio jumped by 52 percent to Rs 13,882 crore from Rs 9,159 crore.


The bank’s asset quality improved during the October-December period with gross non-performing assets (NPAs) at 1.73 percent, down from 1.91 percent from the year-ago quarter. Net NPA came in at 0.34 percent against 0.48 percent.


According to Motilal Oswal Financial Services, asset quality was expected to improve to 1.63 percent and Net NPA at 0.34 percent but the reported numbers missed expectations.


Gross slippages for the quarter stood at Rs 1,177 crore, compared to Rs 748 crore last year.


The bank said that it has made a provision of Rs 143 crore on its AIF investments. “The bank made a Rs 143 crore provision (post-tax) on applicable alternate investment fund (AIF) investments pursuant to RBI’s circular dated December 19, 2023," the bank said in a press release.


The RBI on December 19, said that regulated entities, such as banks, non-bank lenders, and home financiers, cannot invest in alternative investment funds (AIFs) that have directly or indirectly invested in companies that have borrowed money from the lenders.


Advances of Kotak Mahindra Bank grew by 15.72 percent to Rs 3.59 lakh crore, compared to Rs 3.10 lakh crore last year. Whereas, deposits grew by 18.56 percent to Rs 4.08 lakh crore from Rs 3.44 lakh crore.


The current account and savings account (CASA) ratio of the bank stood at 47.7 percent. Average current deposits grew by 5 percent to Rs 59,337 crore compared to Rs 56,372 crore last year.


Unsecured retail advances (incl. Retail Micro Finance) as a percent of the net advances stood at 11.6 percent for the quarter, compared to 9.3 percent of total advances in the corresponding quarter last year.

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Kotak Mahindra Bank Q2 Net profit rises 24%


Kotak Mahindra Bank on Saturday reported a 24 per cent rise in its standalone net profit to Rs.3,191 crore for the quarter ended September 30, mainly on the back of improvement in the core income and lower bad loans.

The private sector lender had posted a net profit of Rs.2,581 crore in the same quarter of the previous fiscal year.


Its total income during the July-September period grew to Rs.13,507 crore against Rs.9,925 crore in the year-ago quarter, Kotak Mahindra Bank said in a regulatory filing.


The net interest income increased 23 per cent to Rs.6,297 crore from Rs.5,099 crore a year ago. Its net interest margin for the quarter rose to 5.22 per cent against 5.17 per cent in the corresponding period of the previous financial year.

On the assets quality front, the bank also witnessed an improvement, with gross non-performing assets (or bad loans) declining to 1.72 per cent of gross advances at the end of September 2023 compared to 2.08 per cent a year ago.


Similarly, the net NPAs dropped to 0.37 per cent from 0.55 per cent in the same quarter a year ago. The bank's capital adequacy ratio stood at 21.7 per cent as of September 30, 2023.


On a consolidated basis, the bank reported a 24 per cent rise in its net profit to Rs.4,461 crore in the September quarter compared to Rs.3,608 crore in the same period of the previous fiscal. Its total income on a consolidated basis increased to Rs.21,560 crore against Rs.17,435 crore in the year-ago quarter.

3,191 crore for the quarter ended September 30, mainly on the back of improvement in the core income and lower bad loans.

The private sector lender had posted a net profit of Rs.2,581 crore in the same quarter of the previous fiscal year.


Its total income during the July-September period grew to Rs.13,507 crore against Rs.9,925 crore in the year-ago quarter, Kotak Mahindra Bank said in a regulatory filing.


The net interest income increased 23 per cent to Rs.6,297 crore from Rs.5,099 crore a year ago. Its net interest margin for the quarter rose to 5.22 per cent against 5.17 per cent in the corresponding period of the previous financial year.

On the assets quality front, the bank also witnessed an improvement, with gross non-performing assets (or bad loans) declining to 1.72 per cent of gross advances at the end of September 2023 compared to 2.08 per cent a year ago.


Similarly, the net NPAs dropped to 0.37 per cent from 0.55 per cent in the same quarter a year ago. The bank's capital adequacy ratio stood at 21.7 per cent as of September 30, 2023.


On a consolidated basis, the bank reported a 24 per cent rise in its net profit to Rs.4,461 crore in the September quarter compared to Rs.3,608 crore in the same period of the previous fiscal. Its total income on a consolidated basis increased to Rs.21,560 crore against Rs.17,435 crore in the year-ago quarter.


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ICICI Bank Q1 Results: Profit jumps 40% YoY, beats estimate




ICICI Bank reported an all-time high quarterly standalone net profit of ₹9,648 crore in first quarter (Q1FY24) on the back of healthy growth in net interest income and non-interest income.

Net profit in the reporting quarter is up 40 per cent year-on-year against ₹6,905 crore in the year-ago period.


The profitability comes despite an increase in operating expenses and net provisions.


The private lender’s consolidated net profit is up 44 per cent to ₹10,636 crore (₹7,385 crore).


Consolidated net profit includes the numbers of principal subsidiaries/associates such as ICICI Securities, ICICI Prudential Asset Management Company, ICICI Home Finance, ICICI Prudential Life, among others


Standalone performance


In the reporting quarter, net interest income (the difference between interest earned and interest expended) rose by 38 per cent to ₹18,226 crore (₹13,210 crore).


Other income, which includes fee income, dividend income from subsidiaries/associates, profit/(loss) on sale of investments and miscellaneous income, increased 16.5 per cent to ₹5,435 crore.


Net interest margin (NIM) improved to 4.78 per cent in Q1FY24 compared with 4.01 per cent in Q1FY23. However, this is lower compared with preceding quarter’s 4.90 per cent.


Re-pricing deposits


Sandeep Batra, Executive Director, said: “Term deposit rates have increased significantly over the last six to nine months...So, the sequential decline in NIM reflects the lagged impact of re-pricing of deposits, which is partly offset by increase in yields on loans and investments.


“We do expect re-pricing of deposits over the next couple of quarters. The overall decline in NIM is in line with our expectations. Going forward, we do expect some moderation in NIM to continue...”


Operating expenses rose about 26 per cent yoy to ₹9,523 crore (₹7,566 crore). Net provisions rose about 13 per cent to ₹1,292 crore (₹1,144 crore).


The gross non-performing assets (NPA) to gross advances position improved a shade to 2.76 per cent as at June-end 2023, against 2.81 per cent as at March-end 2023. The net NPA to net advances position was unchanged at 0.48 per cent.


Business growth


Total deposits increased by 17.9 per cent to ₹ 12,38,737 crore as on June-end 2023. The average current account, savings account (CASA) deposits declined to 42.6 per cent as at June-end 2023 against 43.6 per cent as at March-end 2023.


Total advances rose by 18.1 per cent to ₹10,57,583 crore, with domestic advances growing 20.6 per cent and overseas advances declining 29.5 per cent.


Within domestic advances, business banking reported the highest growth of 30.4 per cent, followed by SME business (28.5 per cent), retail loans (21.9 per cent), corporate loans (19.3 per cent) and rural (17.6 per cent).


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Kotak Mahindra Bank Q1 Results: Net Profit Rises 66.6%

 


Private lender Kotak Mahindra Bank has declared its first quarter results for the financial year 2023-24. The Board of Directors of Kotak Mahindra Bank has approved the unaudited standalone and consolidated results for the quarter ended June 30, 2023, at the Board meeting held in Mumbai, today.


Beating the market estimates, Kotak Mahindra Bank reported PAT (Profit After Tax) for Q1FY24 stood at ₹3,452 crore, up 67 per cent YoY from ₹2,071 crore in Q1FY23. CASA ratio of the private lender as on June 30, 2023 stood at 49.0 per cent.


Net Interest Income (NII) for Q1FY24 increased to ₹6,234 crore, from ₹4,697 crore in Q1FY23, up 33 per cent YoY. Net Interest Margin (NIM) was 5.57 per cent for Q1FY24.


At the consolidated level, the Return on Assets (ROA) for Q1FY24 (annualized) was 2.63 per cent (2.04 per cent for Q1FY23). Return on Equity (ROE) for Q1FY24 (annualized) was 14.62per cent (11.22 per cent for Q1FY23).


Consolidated Capital Adequacy Ratio as per Base III as on June 30, 2023 was 23.3 per cent and CET I ratio was 22.3 per cent (including unaudited profits).


Bank deposits grows in Q1FY24


Average Current deposits of Kotak Mahindra Bank grew to ₹59,431 crore during April to June 2023 quarter compared to ₹55,081 crore for Q1FY23, logging YoY gain of 8 per cent. Average Savings deposits stood at ₹119,817 crore as on June 30, 2023 ( ₹121,521 crore as at June 30, 2022). Average Term deposit up 40 per cent from ₹130,035 crore for Q1FY23 to ₹182,047 crore for Q1FY24.


Total assets managed / advised by the Group as at June 30, 2023 were ₹4,66,878 crore up 23 per cent YoY over ₹3,78,474 crore as at June 30, 2022. The Alternate Assets’ AUM (includes undrawn commitments, wherever applicable) increased by 90 per cent YoY to ₹46,443 crore as at June 30, 2023.



Advances (incl. IBPC & BRDS) increased 19 per cent YoY to ₹3,37, 031 crore as at June 30, 2023 from ₹282,665 crore as at June 30, 2022. Customer Assets, which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes, increased by 18 per cent YoY to ₹3,62,204 crore as at June 30, 2023 from ₹3,06,123 crore as at June 30, 2022.


Fees and services of the private lender for Q1FY24 increased to ₹1,827 crore from s 1,528 crore in Q1FY23, up 20 per cent YoY.


Operating profit of the private bank for Q1FY24 was ₹4,950 crore, up 78 per cent YoY (Q1FY23: ₹2,783 crore).


Customers as at June 30, 2023 were 4.35 crore (3.45 crore as at June 30, 2022). Unsecured retail advances (incl. Retail Micro Finance) as a percentage of net advances stood at 10.7 per cent as at June 30, 2023. (7.9 per cent as at June 30, 2022).



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Highest number of fraud at Kotak Mahindra bank in 2021, followed by ICICI bank- Govt. data


Kotak Mahindra Bank has been hit by the highest number of frauds at 642, involving Rs 1 lakh and above, in the first nine months of 2021-22, followed by ICICI Bank and IndusInd Bank at 518 and 377, respectively.

Presenting data of number of frauds in banks, involving Rs 1 lakh and above in last five financial years and the current one, Minister of State for Finance Bhagwat Karad informed Parliament that the number of frauds at Kotak has been on a rise from 135 in FY17 to 289 in FY18; 383 in FY19; 652 in FY20 and 826 in FY21.

For India's largest lender SBI, the number of frauds declined in last three years. There were 751 incidents in FY17; 923 in FY18; 931 in FY19; 673 in FY20; 283 in FY21, the minister said.

Directions issued by the Reserve Bank of India to banks, and the government instituted wide-ranging structural and procedural reforms have helped check frauds in banks over the last five years and the amount involved has come down sharply, Karad said in a written reply to the Lok Sabha. Apart from this, measures have also been taken to deter fraudsters from committing crime, he said.

Bank frauds over the last five years have come down drastically to Rs 648 crore in first nine months of 2021-22, he added. In 2016-17, bank frauds stood at Rs 61,229 crore, which declined to Rs 11,583 crore in 2020-21 and then to Rs 648 crore during April-December 2021-22.

Improved detection and reporting along with comprehensive steps resulted in sharp decline of such frauds, he said.

Source- The Times of India

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Kotak Mahindra Bank Q3 Results: Profit rises 15% YoY

 


Kotak Mahindra Bank Friday reported a 14.94 per cent year-on-year (YoY) rise in standalone net profit at Rs 2,131 crore compared with Rs 1,854 crore in the corresponding quarter last year.

Meanwhile, consolidated PAT for the bank was up 31 per cent YoY at Rs 3,403 crore from Rs 2,602 crore in the year-ago quarter.

Net interest income (NII) for the quarter rose 11.81 per cent YoY to Rs 4,334 crore from Rs 3,876 crore in the same quarter last year. Net interest margin (NIM) for Q3FY22 came in at 4.62 per cent.

The private lender said it saw 21 lakh net customer additions during the quarter under review against 8 lakh in the year-ago quarter. Customers as at December 31 stood at 3.07 crore, the bank said in a BSE filing.

Gross NPA fell to Rs 6,983 crore from Rs 7,126 crore in the year-ago quarter and Rs 7,658 crore in the September quarter. Gross NPA ratio came in at 2.71 per cent, down from 3.27 per cent in the same quarter last year and 3.19 per cent at the of September quarter.

Kotak Bank said Covid-related provisions stood at Rs 1,000 crore as of December 31. The bank has standard restructured fund-based outstanding of Rs 1,364 core or 0.54 per cent of advances as at December 31, 2021.

Capital adequacy ratio, including unaudited profits, came in at 23.3 per cent in the recently concluded quarter and Tier I ratio was 22.4 per cent.

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Kotak Mahindra Bank Q2 Results: Standalone profit falls 7%


Private sector lender Kotak Mahindra Bank on October 26 reported a 7 percent year-on-year decline in standalone profit at Rs 2,032 crore for the September 2021 quarter due to higher provisions. But supported by higher other income, the profit was ahead of analysts' estimates. However, net income sequentially grew by 24 percent on sharp decline in bad loan provisions.


Standalone net interest income in Q2FY22 rose 3.2 percent year-on-year to Rs 4,020.6 crore - meeting street expectations - with healthy 15 percent YoY (8 percent QoQ) loan growth. Net interest margin contracted 5 bps year-on-year and 15 bps sequentially to 4.45 percent in Q2.


"Advances during the quarter increased by 14.7 percent to Rs 2,34,965 crore, and deposits grew by 11.5 percent to Rs 2,91,711 crore compared to year-ago period," said the bank in its BSE filing on Tuesday.


Profit was estimated at Rs 1,792.2 crore and net interest income was expected at Rs 4,008.1 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.


Asset quality improved during the quarter ended September 2021 with gross non-performing assets as a percentage of gross advances falling 40 bps QoQ to 3.2 percent and the net NPA declined 20 bps to 1.1 percent on sequential basis. 10 basis points is 0.01 percent.


Provisions and contingencies declined sharply by 40 percent sequentially to Rs 424 crore in September 2021 quarter, but the same increased by 27.3 percent year-on-year which resulted into a drag in profitability.


Kotak Mahindra Bank said Covid related provisions as of September 2021 were maintained at Rs 1,279 crore and did not utilise in the first half of FY22. "The bank has implemented total restructuring of Rs 495 crore (0.21 percent of advances), and in addition, the bank has implemented total restructuring of Rs 767 crore (0.33 percent of advances) as on September 30, 2021."


"Total provisions (including specific, standard, COVID-19 related etc.) held as on September 2021 at Rs 7,637 crore, around 100 percent of gross NPA," the bank said.


The bank further said SMA-II (special mention account) outstanding at the end of September 2021 quarter was at Rs 388 crore, down compared to Rs 430 crore as of June quarter.


Non-interest income (other income) grew significantly to Rs 1,812.6 crore in the quarter ended September 2021 driven by fee and services business, up from Rs 1,432.4 crore in corresponding quarter of last fiscal. Fee and services included distribution & syndication income, and general banking fees.


On consolidated basis, the profit growth was significant, rising 65.5 percent year-on-year to Rs 2,989 crore and the year-on-year growth was 1.4 percent.


Subsidiaries - Kotak Securities recorded 22.1 percent year-on-year growth in profit at Rs 243 crore and Kotak Mahindra Prime clocked 80.5 percent growth in profit at Rs 240 crore in the quarter ended September 2021.


Kotak Asset Management and Trustee Company's bottomline grew by 15.5 percent year-on-year to Rs 97 crore and Kotak Mahindra Capital Company registered a massive 314.3 percent growth YoY at Rs 58 crore, but Kotak Mahindra Life Insurance's profit declined 9.4 percent YoY to Rs 155 crore during the quarter.


The bank said consolidated customer assets grew by 16 percent year-on-year to Rs 287,831 crore as of September 2021. "Total assets managed / advised by the Group as of September 2021 were Rs 3,81,058 crore, up 40 percent over the corresponding period last fiscal."

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Kotak Mahindra Bank Q1 results: Net profit rises 32% YoY

Kotak Mahindra Bank today reported a 32 per cent year-on-year rise in its net profit to Rs 1,641.9 crore for the quarter ended June, which was below analysts’ expectations.The private sector lender reported net interest income growth of 6 per cent on-year to Rs 3,942 crore, which was also below analysts’ estimates.



Provisions and contingencies in the quarter declined to Rs 935 crore from Rs 962 crore in the year-ago quarter. However, the lender saw a deterioration in asset quality in the reported quarter.Kotak Bank’s gross non-performing loans ratio stood at 3.56 per cent in the reported quarter as against 3.25 per cent at the end of the March quarter. Similarly, the net NPA ratio expanded to 1.28 per cent from 1.21 per cent in the previous quarter.


The private sector bank’s net profit in the quarter was largely boosted by a sharp uptick in other income. Other income in the reported quarter jumped to Rs 1,583.03 crore from Rs 773.5 crore in the year-ago quarter.


Covid-related provisions as on June 30 were maintained at Rs 1,279 crore. In accordance with the Resolution Framework for Covid-19 and MSME announced by the RBI, the bank implemented total restructuring of Rs 552 crore as on June 30, Kotak Bank said.


In terms of loan growth, the quarter was tepid for the bank affected by the second wave as well as its conservative approach. Advances in the quarter grew merely 6 per cent on-year, which was lower than many of its peers.


At the same time, the current account-to-savings account ratio of the lender further improved to 60.2 per cent at the end of the June quarter from 56.7 per cent a year ago.Kotak Bank’s operating performance was sturdy as operating profit jumped 19 per cent year-on-year to Rs 3,121 crore in the reported quarter.

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Kotak Mahindra Bank Q4 results: Net Profit Rises 33%

 


Kotak Mahindra Bank reported a 33% year-on-year increase in standalone profit to Rs 1,682.4 crore in the quarter ended March 2021. The lender clocked 8% year-on-year rise in net interest income to Rs. 3,843 crore for the quarter. Net Interest Margin (NIM) for Q4FY21 was at 4.39%. Operating profit for the quarter recorded at Rs 3,407 crore, up 25% from Rs 2,725 crore in Q4FY20.


The average savings deposits with the bank grew by 27% to Rs 108,812 crore for FY21 compared to Rs 85,656 crore for FY20. Average Current Account deposits grew by 17% to Rs 39,481 crore for FY21 compared to Rs 33,699 crore for FY20.


Advances were Rs 223,689 crore in Q4FY21, 4.5% quarter-on-quarter rise from Rs 214,103 crore in December quarter. Customer assets, which includes advances and credit substitutes, were Rs 238,857 crore as during March 31, up 4.4% from Rs 228,809 crore in Q3FY21.


CASA ratio as at March 31, 2021 stood at 60.4% compared to 56.2% as at March 31, 2020. “CASA and TDs below Rs 5 crore as at March 31, 2021, constituted 91% of total deposits (86% as at March 31, 2020). TD Sweep deposits as at March 31, 2021 were 7.5% of total deposits (6.6% as at March 31, 2020)," the lender said in a statement.


The gross non-performing assets ratio stood at 3.25% during Q4FY21 compared to 3.27% in the previous quarter. Net NPA ratio declined to 1.21%, from 1.24% in the previous quarter.


“COVID related provisions as at March 31, 2021 stood at Rs 1,279 crore. In accordance with the Resolution Framework for COVID-19 and MSME announced by RBI, as at March 31, 2021, the bank has implemented, for certain eligible borrowers, restructuring of Rs 435 crore," Kotak Mahindra said in a statement.


“Consolidated PAT for FY21 increased to Rs 9,990 crore from Rs 8,593 crore in FY20 up 16% and for Q4FY21 increased to Rs 2,589 crore from Rs 1,905 crore in Q4FY20 up 36%," the lender said in a statement. For FY21, the Bank’s contribution to the consolidated PAT was Rs 6,965 crore. Net contribution of the subsidiaries & associates stood at 30% of the consolidated PAT, it further added.

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Kotak Mahindra Bank Q3 results: Net profit rises 16%


Kotak Mahindra Bank
today reported a 16% year-on-year rise in its standalone net profit for third quarter ended December 31. Net profit rose to Rs.1,854 crore, from Rs.1,596 crore in Q3FY20, up 16%. Share prices were up about 2% in noon trade.

Highlights of Kotak Mahindra Bank Q3 results:

Net Interest Income (NII) for Q3FY21 increased to Rs.4,007 crore, from Rs.3,430 crore in Q3FY20, up 17%.

Net Interest Margin (NIM) for Q3FY21 was at 4.51%.

CASA ratio as at December 31, 2020 stood at 58.9% compared to 53.7% as at December 31, 2019.

Advances as at December 31, 2020 were at Rs.214,103 crore ( Rs. 204,845 crore as at September 30, 2020 and Rs.216,774 crore as at December 31, 2019)

As at December 31, 2020, GNPA was 2.26% & NNPA was 0.50%.

"The Bank has not classified any NPAs since August 31, 2020, basis the interim order of Hon. Supreme Court. Had the Bank classified the borrowers more than 90 days overdue on December 31, 2020 as NPA, GNPA would be 3.27% September 30, 2020: 2.70%); NNPA would be 1.24% (September 30, 2020: 0.74%). The Bank has, however, made provision for such advances including towards interest accrued but not collected for the entire period, with moratorium," the bank said.

Capital adequacy ratio of the Bank as per Basel III, as at December 31, 2020 was 21.5% and Tier I ratio was 20.9%

COVID related provisions as at December 31, 2020 stood at Rs.1,279 crore. In accordance with the Resolution Framework for COVID-19 announced by RBI on August 6, 2020, as at December 31, 2020, the Bank has approved, for certain eligible borrowers, one-time restructuring of 0.28% of net advances.

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Kotak Mahindra Bank Q2 net profit rises 26%


Private sector lender Kotak Mahindra Bank on Monday reported 26% jump in net profit for quarter ending 30 September, 2020 at 
Rs.2,184 crore. It was Rs. 1,724 crore a year ago.

Net interest income for Q2FY21 increased to Rs.3,913 crore, from Rs.3,350 crore in Q2FY20, up 17%. Net interest margin (NIM) for Q2FY21 was at 4.52%.The total income (standalone) rose to Rs.8,288.08 crore in the July-September period as against Rs.7,986.01 crore in the year-ago period.

CASA ratio as on 30 September, 2020 stood at 57.1% compared to 53.6% as on 30 September, 2019.Average savings deposits grew by 32% to Rs.1,06,442 crore for H1FY21 compared to Rs.80,425 crore for H1FY20.

Advances as on 30 September, 2020 were at Rs.2,04,845 crore as compared to Rs.2,13,299 crore as on 30 September, 2019).Covid-related provisions as of 30 September, 2020 stood at Rs.1,279 crore (0.62% of net advances).

The bank's asset quality improved on a net basis, with the non-performing assets (NPAs) falling to 0.64 per cent of the net advances as of September 30, 2020, from 0.85 per cent by September-end 2019.

In value terms, the net NPAs were down at Rs.1,303.78 crore compared to Rs.1,811.40 crore.However, the gross NPAs rose to 2.55 per cent ( Rs.5,335.95 crore) from 2.32 per cent ( Rs.5,033.55 crore).

Provisions for bad loans and contingencies came down to Rs.368.59 crore for the reported quarter, from Rs.407.93 crore parked aside for the year-ago period. "The Bank has not recognised any NPAs since 31 August, 2020, in line with the interim order of Supreme Court. If the said Order was not given effect to, the GNPA would have been 2. 70% and NNPA 0.74%. The Bank has, however, made provision for such advances," the bank said in a stock exchange filing.

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Kotak Mahindra Bank Q4 results: Profit falls 10% YoY

Kotak Mahindra Bank on Wednesday reported a 10 per cent year-on-year (YoY) fall in standalone net profit at Rs 1,267 crore for the March quarter against Rs 1,408 crore posted in the same quarter last year.

The figure, however, beat ET NOW poll estimate of Rs 1,200 crore profit for the quarter.

The bank said it made Covid-19-related general provisions worth Rs 650 crore for the quarter, which were higher than the RBI requirement.

bank's provisions and contingencies for the said quarter stood at Rs 1,047 crore, over five times the Rs 171 crore-provisions the private lender reported in the corresponding quarter of last year.

Total provisioning towards advances were higher than the GNPA of the bank, Kotak said.

Net Interest Income (NII) for the quarter rose 17.25 per cent to Rs 3,560 crore from Rs 3,036 crore in the year-ago qaurter.

The bank said 26 per cent of borrowers by value at account level availed the RBI moratorium. Covid provisioning, it said, stood at 10 per cent of account level.

Gross non-performing assets (NPAs) for the quarter stood at 2.25 per cent, which was higher than December quarter's 2.14 per cent but lower than 2.46 per cent in the year-ago quarter.

Total slippages for the quarter more than halved to Rs 491 crore in Q4 from Rs 1,062 crore in the same quarter last year.

Advances at the end of March quarter were up 7 per cent YoY at Rs 2,19,748 crore against Rs 2,05,695 crore in the corresponding quarter last year.

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Kotak Mahindra Bank Q3 net profit up 23.6% t


Kotak Mahindra Bank Ltd on Monday reported a 23.6% year-on-year increase in its standalone net profit for the December quarter to ₹1,595.90 crore, largely led by higher other income and lower tax expenses. Sequentially, however, net profit declined 7.5%.

The private lender’s net interest income (NII) rose 17.2% year-on-year to ₹3,429.53 crore during October-December. On a quarterly basis, NII rose 2.4%.

Other income surged 37.34% from a year ago to ₹1,341.43 crore during the reporting quarter.

Lower tax outgo also boosted the lender’s bottomline. Tax expenses stood at ₹348.17 crore, down 48.8% from a year ago.

Asset quality weakened during the quarter, with gross non-performing assets (NPAs) increasing 31.1% year-on-year to ₹5413.20 crore. Gross NPAs as a percentage of advances for the quarter was at 2.46% compared with 2.32% a quarter ago and 2.07% a year ago. Provisions and contingencies of the lender stood at ₹444 crore during October-December, up 8.5% from ₹407.93 crore in the last quarter.

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Kotak Mahindra Bank Q2 profit jumps 51%

Kotak Mahindra Bank reported a 51 percent year-on-year jump in the net profit at Rs 1,724.5 crore for the quarter ended September 30, 2019.
CNBC-TV18 poll had estimated the profit to the tune of Rs 1,555.2 crore for Q2FY20.
The private lender had reported a net profit of Rs 1,141.65 crore in the corresponding quarter of the previous financial year.
Net interest income (NII) of the bank jumped 25.2 percent, coming at 3,349.6 crore against 2,676.3 crore in the corresponding quarter of FY19. Net interest margin (NIM) for Q2FY20 came at 4.61 percent, up from 4.19 percent in Q2FY19.
The bank said, its CASA ratio as on September 30, 2019, stood at 53.6 percent, compared to 50.2 percent as on September 30, 2018.
Average savings deposits grew by 20 percent YoY to Rs 80,425 crore for Q2FY20 compared to Rs 66,892 crore for Q2FY19. The average current account deposits grew by 22 percent to Rs 33,216 crore for Q2FY20 compared to Rs 27,231 crore for Q2FY19.
However, the bank's non-performing assets (NPAs) increased slightly during the September quarter.
Gross NPA stood at 2.32 percent in the September quarter against 2.19 percent in the June quarter. Net NPA came at 0.85 percent against 0.73 percent quarter-on-quarter.
In monetary terms, gross NPA stood at Rs 5,033.5 crore against Rs 4,613.5 crore quarter-on-quarter (QoQ), whereas Net NPA came at Rs 1,811.4 crore against Rs 1,524.4 crore (QoQ).
Provisions stood at Rs 408 crore against Rs 316.8 crore (QoQ) and Rs 354 crore (YoY).
The net interest margin improved slightly, coming at 4.61 percent against 4.49 percent (QoQ).
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Kotak Mahindra Bank Q1 profit rise 33%

Kotak Mahindra Bank on Monday reported a 33% increase in its June quarter net profit due to higher net interest income and lower provisions. Net profit for the quarter stood at ₹1,360.20 crore, up 32.71%, from ₹1,024.94 crore a year ago. According to 13 Bloomberg analyst, the bank was expected to post a profit of ₹1334.10 crore.

Net interest income (NII), or the core income a bank earns by giving loans, was up 22.85% to ₹3,173.04 crore, against ₹2,582.90 crore in the same period last year. Non-interest income was at ₹1,304.73 crore, up 12%, from₹1,164.59 crore a year ago.

Provisions and contingencies fell 32.55% to₹316.76 crore during the quarter, compared to ₹469.63 crore a year ago.
As a percentage of total loans, gross NPAs stood at 2.19%, against 2.14% in the previous quarter and 2.17% in the same quarter a year ago. 

Net NPAs were at 0.73% in the June quarter, against 0.75% in the previous quarter, and 0.86% in the same quarter last year.

Gross non-performing asset rose 18.31% to₹4,613.52 crore during the quarter.


Deposits rose 22.76% to ₹2.33 trillion, while advances increased 18% to ₹2.08 trillion.
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Kotak Mahindra Bank Q4 profit beats Street estimates

A sharp fall in provisions lifted standalone profit of Kotak Mahindra Bank by 25.24 per cent to Rs 1,407.80 crore in March quarter, beating analysts’ projection of Rs 1,380 crore net in an ET NOW Poll.

Net Interest Income (NII) rose 18.13 per cent YoY to Rs 3,048 crore from Rs 2,580 crore in the same quarter last year.

Profit after tax (PAT) climbed 25 per cent YoY to Rs 1,408 crore from Rs 1,124 crore in the year-ago quarter.The bank’s standalone operating profit jumped 13 per cent to Rs 2,282.26 crore from Rs 2,017.95 crore.

NIM for the quarter came in at 4.48 per cent against 4.3 per cent sequentially and 4.4 per cent in the year-ago period.




Gross non-performing assets for the quarter stood at 2.14 per cent; net NPA at 0.75 per cent.


The bank board has recommended a dividend of Re 0.80 per equity share.




Consolidated profit increased 13.91 per cent YoY to Rs 2,038.27 crore against Rs 1,789.24 crore.





The lender said its CASA ratio stood at 52.5 per cent compared with 50.8 per cent in the corresponding quarter last year.



 As on March 31, capital adequacy ratio as per Basel III stood at 17.5 per cent and Tier I ratio was at 16.9 per cent.





Advances were up 21 per cent at Rs 2,05,695 crore against Rs 1,69,718 crore as on March 31, 2018.


CASA ratio stood at 52.5 per cent against 50.8 per cent YoY. Average savings deposits rose 25 per cent to Rs 76,289 crore from Rs 61,223 crore in the year-ago period.



Average current account deposits jumped 14 per cent to Rs 30,926 crore against Rs 27,024 crore.The bank had a network of 1,500 full-fledged branches and 2,352 ATMs as of March 31.
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Kotak Mahindra Bank profits jump 23% in Q3

Kotak Mahindra Bank performed better than what analysts estimated for its quarterly results. Driven by strong loan growth, the bank's net profit rose by 23% year-on-year to Rs 1,291 crore in the quarter ended December, as mentioned in the bank's exchange filing. Analysts estimated the bank to make Rs 1,190 crore in profits.

Net interest income of the bank, which is the difference between interest earned and expended, also rose 27% to Rs 2,939 crore, higher than the estimate of Rs 2,633 crore. Net interest margin increased to 4.33% to 4.2% in the previous quarter. The company also said in a statement that the bank's profit and revenue were helped by a rise of 23% in total advances that stood at Rs 1,96,432 crore as on December 31.
The bank's asset quality also improved during the quarter. Gross non-performing assets ratio fell from 2.15% in the preceding quarter to 2.07% this quarter. Additionally, net bad loans also dipped from 0.71% to 0.81%.
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Top 10 Banks in India 2018

In India banking sector is one of the most regulated sectors in the economy. When Indian Government allowed private banks to operate in the nation many banks came into existence and gave a tough competition to various nationalized players. Private Banks won over most nationalized banks because of the quality of services they offered to their customers. With years, banks are also adding services to their customers. The Indian banking industry is passing through a phase of customers market. The customers have more choices in choosing their banks. A competition has been established within the banks operating in India. So, which banks provide the best services?
Although Indian banking is known as world’s best banking but we can’t point out any single bank which provides best banking among all. Because i don’t think that even a single person is satisfied with service sector industry. Our expectation is too high and always running on increasing trend. Like; all customers are not same, all banks are not same. The behavior of employees perceive in different manner by different people. Because due to competition there is a huge change can feel in working style of PSU & Private sector banks which covers only limited area & they have too many complaints also. So we can’t point out any single name. Nowadays banking industry is totally changed, I m talking about the service quality of PSU banks. Lots of customer centric approach is applied today, now banks are more concerned about the customer retention. So if we go through the customer service delivery system of bank of Baroda it will now at par with the peer banks. Their services is now become centralized, a new retail loan factory concept is introduced by the bank which will help to improve the quality of loan,it also reduces the delivery time and make it more customer friendly.
In Short, Try to obtain the benefits of monopolistic competition between PSUs and private sector banks. It is good for retail customers because they always have choice to shift their banking.
We are going to give rank to the banks as per belove Individual Parameters
  • Disclosure about charges and interest rates
  • Pro-active communication about new products/services
  • Trustworthiness
  • Complaint Resolution
  • Wide ATM coverage
  • Professionalism of the company
  • Convenient banking hours
  • Well-trained staff
  • Courteous and friendly staff
  • Faster service at branches
  • Knowing the customer and their needs
  • Good Internet banking
  • Efficient processes
  • Effective communication on developments
  • Innovative company
  • Good phone banking
Here’s the list:
1. HDFC Bank

HDFC was established as Housing Development Finance Corporation in the year 1994.The operations of the bank started in 1995 after it was scheduled as a commercial bank.The bank has served well since then and still continues to bring in more and more costumers with its phenomenal services. Bank’s distribution network was at 4,555 branches and 12,087 ATMs across 2,597 cities / towns. HDFC is the largest bank in India in terms of assets.The total assets of the bank are estimated to be around $66.7 Billion.The Current CEO of the bank is Aditya Puri.
2. State Bank Of India
The largest Indian Bank which has the maximum number of branches in the country as well as abroad.The Bank has many sub-branches as well which serve the maximum number of consumers in India.The Bank was nationalized in the year 1955.The total assets of the bank are much more than any other bank.As of 31 March 2018, SBI has more than 22400 branches,including 52 foreign offices spread across 36 countries and 59541 ATMs. 
3. Bank Of Baroda

Bank of Baroda is one of the largest public sector banks in India. The services of the bank have always been satisfying and par excellence. The bank was set up in 1908 and the current CEO of the bank is Mr. P. S. Jayakumar. The total assets of the bank are somewhat closer to $70 Billion. The bank has 5498 branches including  107 overseas branch and over 10441 ATMs including the ones outside India.
4. Axis Bank
The Bank was founded in 1993 and the headquarters resides in Mumbai, Maharashtra. It has more than 3700 branches in India.The bank was an investment of some prominent international companies.The total worth of the bank is $96 Billion.The bank is known for its hassle free services throughout the country. Bank has 3710 branches, 13,857 ATMs, and nine international offices.



5. Punjab National Bank
One of the oldest banks in the country, the establishment of the Punjab National Bank goes back to 1894, more than 100 years from now.This is one of the oldest public sector banks in India.The total assets of the bank are more than $101 Billion. Bank has over 6,983 branches and over 9598 ATMs nationwide. The Chief Executive Officer of the bank is Sunil Mehta.

6. ICICI Bank
ICICI stands for Industrial Credit and Investment Corporation of India and it was established in 1994.It is one of the best banks in the country with assets worth more than $160 Billion. Sandeep Bakhshi works as the CEO of the bank.The Bank has been operational in 18 countries as of now.The Bank also acquired Bank of Rajasthan in the year 2010. ICICI has adopted a Go Green initiative in which it has started most of its operations in electronic form.Even the bank statements are sent via e-mails. Bank has a network of 4867 Branches and 14,417 ATM's has a presence in 19 countries including India.


7. Kotak Mahindra Bank 

Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, Reserve Bank of India (RBI) issued the licence to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business. Kotak Mahindra Bank has a network of 1425 branches across 689 locations and 2,363 ATMs in the country (as of 31 March 2018). In 2018, it is the second largest private bank in India by market capitalization after HDFC Bank.

8. Canara Bank
Like other major public sector banks, Canara Bank is also state owned and was set up in the year 1906 by Subba Rao.The headquarters of the Bank reside in Bengaluru, Karnataka. The Bank provides hassle free service to its customers . Bank has revolutionized its services and spreads its hands more to cover more areas.As per the data of 2018, the Bank has 6212 branches and 9395 ATMs across the nation.The total assets of the bank $88 Billion which are set to increase in the coming years.
9. Bank Of India
Bank of India is one of the major public sector banks in India.The bank became government owned after the nationalization of Banks in 1969, though the bank was founded much before that in 1906.CEO of Bank of India is Dinbandhu Mohapatra. The total assets of the bank are around $97 Billion .Bank of India has 5127 branches as on 31 May 2018, including 29 offices outside India and more than 7000 ATMs nationwide.
10. IDBI Bank 

IDBI stands for Industrial Development Bank Of India and was established in the year 1964. It is a Public sector bank. The total assets of the bank reach to about $50 Billion. There are 1916 branches including one overseas branch at Dubai and 3276 ATMs across the country. Investment Banking and Agro-Loan facilities are the USP of the bank. Mr. Maheshkumar K. Jain is the Chief Executive Officer of the Bank.
So, guys this was some very basic information about the Top Banks in the Country. We just hope to satisfy you with whatever we write and you can also help us improve by giving the feedback to our written posts.If you loved our writings, do share it with your friends.
(data as on 31st May,2018)
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