BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Kotak Mahindra Bank Ltd. reported strong earnings growth in Q4 FY23. Standalone profit after tax rose 26% YoY to Rs 35 billion (16% beat), driven by lower opex and controlled provisions as pre-provision operating profit was up 39% YoY. Consolidated profit after tax grew 17% YoY to Rs 45.7 billion during the quarter.
Loan growth moderated sequentially to ~3%, while margin expanded further by 28 basis points QoQ to 5.75%. Current account and savings account ratio moderated 50bp QoQ to 52.8%. Gross slippages increased slightly to Rs 8.2 billion, of which Rs 2.2 billion were upgraded in Q4 FY23.
Healthy recoveries and upgrades led to a 12 bps/6 bps QoQ decline in the gross/net-non performing asset ratios.
Kotak Mahindra Bank reversed Rs 130 million of Covid related provisions; outstanding Covid-related provisions now stand at Rs 3.87 billion (12 bps of loans).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.