KOTAK MAHINDRA BANK
The bank's total income in the third quarter rose by 4% YoY to Rs 8,260.48 crore. The bank's operating profit before provisions and contingencies for the quarter declined by 7.1% year on year to Rs 2,701 crore.
Net interest income (NII) grew by nearly 12% year on year to Rs 4,334 crore in Q3 FY22 from Rs 3,876 crore posted in Q3 FY21. Net interest margin (NIM) for Q3 FY22 improved to 4.62% in Q3 FY22.
As of 31 December 2021, COVID related provisions stood at Rs 1,000 crore. In accordance with COVID and MSME resolution frameworks announced by RBI, the bank had standard restructured fund-based outstanding of Rs 1,364 core (0.54% of Advances) as of 31 December 2021.
On the asset quality front, gross non-performing assets aggregated to Rs 6,982 crore as at 31 December 2021 as against Rs 7,657.96 crore as at 30 September 2021 and Rs 4,928 crore as at 31 December 2020. The gross NPA ratio was 2.71% as at 31 December 2021 as against 3.19% as at 30 September 2021. The net NPA ratio was 0.79% as at 31 December 2021 as against 1.06% as at 30 September 2021.
Capital adequacy ratio of the bank, including unaudited profits, as per Basel III as of 31 December 2021 was 23.3% while tier I ratio was 22.4%.
Net Customer additions in Q3FY22 was 2.1 million against that of 0.8 million in Q3FY21. Customers as at 31 December 2022 was 30.7 million (25 mn as at December 31, 2021). Advances increased by 18% to Rs 252,935 crore as of 31 December 2021 from Rs 214,085 crore as of 31 December 2020. CASA ratio stood at 59.9% in 31 December 2021 stood at compared to 58.9% as of 31 December 2020.
Kotak Mahindra Bank is a full-service commercial bank. As on 31 December 2021, Kotak Mahindra Bank has a national footprint of 1,647 branches and 2,609 ATMs.
Shares of Kotak Mahindra Bank were trading 1.4% higher at Rs 1,915.90.
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