Kotak Mahindra Bank's total deposits stood at Rs 6.51 lakh crore in the July-September quarter, up by 23.2% from Rs 5.29 lakh crore in the year-ago period, according to provisional numbers disclosed by the lender on Monday. In the previous quarter the bank had reported its total deposits as Rs 5.73, marking a sequential rise of 13.7% for the current quarter.
The bank's net advances rose 24.7% year-on-year to Rs 5.77 lakh crore in the July-September quarter. On a sequential basis, it advanced by 12.7% from Rs 5.12 lakh crore.
The current account and savings account, or CASA, also saw an 11.3% rise year-on-year to Rs 2.49 lakh crore from Rs 2.24 lakh crore. The bank also noted a sequential rise of 7.8% as CASA in Q1 of FY27 stood at Rs 2.31 lakh crore.
Besides this, Kotak Mahindra Bank saw an uptick in the average net advances, average CASA, and average deposits as well.
The Bank has mobilised FCNR B Deposits worth $5.78 billion As Of Sept 30 through the Reserve Bank of India's swap window.
Kotak Mahindra Bank Q1 Results
Kotak Mahindra Bank reported a net profit of Rs 4,123 crore for quarter ended June supported by healthy growth in net interest income and operating profit. The private-sector lender's net profit increased 26% year-on-year from Rs 3,282 crore, surpassing Bloomberg estimate of Rs 3,975 crore. Net interest income, the difference between interest earned and interest paid, rose 9.2% year-on-year to Rs 7,928 crore from Rs 7,260 crore. However, the figure was marginally below the market estimate of Rs 8,002 crore.
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Operating profit increased 10.2% to Rs 6,131 crore, compared with Rs 5,564 crore in the corresponding quarter of the previous year. It was also higher than the estimated Rs 6,015 crore. The bank's asset quality remained broadly stable during the quarter. Gross non-performing assets improved to 1.18% of total advances from 1.20% in the preceding quarter, matching analysts' expectations.
Net NPA stood at 0.27% as compared to 0.25% in the previous quarter and slightly above the estimate of 0.26%. Provisions increased sequentially to Rs 668 crore from Rs 516 crore in the preceding quarter. On a year-on-year basis, however, provisions declined sharply from Rs 1,208 crore.
Kotak Mahindra Share Price Today
Kotak Mahindra Bank shares closed 0.56% lower at Rs 416 per share on Monday. The shares have risen 3.6% in one week but fallen 2% in one month. The shares are down 6.21% year-to-date and 0.98% in one year.
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