Kotak Mahindra Bank Q3 Update: Loan Books Grows Faster Than Deposits
The faster pace of credit growth relative to deposits led to a rise in the bank’s credit-deposit ratio.
Kotak Mahindra Bank Ltd.'s loan book expanded faster than deposits in the third quarter of the current financial year.
Net advances rose 16% to Rs 4.8 lakh crore in the October-December period, from Rs 4.14 lakh crore in the corresponding quarter last year, according to provisional business updates disclosed on Monday. On a quarterly basis, it rose nearly 4%.
Total deposit rose 14.6% to Rs 5.43 lakh crore from Rs 4.73 lakh crore last year. Sequentially, it advanced 2.6%.
The CASA (Current Account Savings Account) rose nearly 12% year-on-year to Rs 2.24 lakh crore. On a quarterly basis, it was flat.
Kotak Mahindra Bank is yet to announce the date for the board meeting to consider and approve the third quarter financial results. The Mumbai-based lender is the fourth largest private bank in India in terms of market capitalisation.
Shares closed 0.1% lower at Rs 2,190.9 apiece on NSE, ahead of the announcement, compared to a 0.3% decline in the benchmark Nifty 50. The stock has risen 19% in the last 12 months.
