Kotak Mahindra Bank Q3 Results Review - Growth Momentum Continues; Asset Quality Improves: Axis Securities

"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. .Axis Securities Report.Kotak Mahindra Bank Ltd. continued its loan growth momentum at 23/6% YoY/QoQ, primarily driven by mortgages (up 29% YoY/ 4% QoQ), personal loans (up 70% YoY/ 10% QoQ) and credit cards (up 85% YoY/ 16% QoQ) with significant growth across categories. With robust growth in advances and net interest margin reported at 5.47% (an expansion of 30 bps), Kotak Mahindra Bank’s net interest income reported growth of 30%/11% YoY/QoQ. Other income grew by 54% YoY largely driven by 24% YoY growth in the fee income. Opex inched up by 30/12% YoY/QoQ primarily driven by a sharp rise in other opex by 35% YoY. As a result, the cost/income ratio increased by 90 bps to 50.3%. However, strong NIM expansion. robust NII growth, provisions at similar levels (QoQ), and reduced restructured book (0.25% of advances versus 0.34% QoQ) allowed Kotak Mahindra Bank to report profit after tax at Rs 2,792 crore (up by 31/8% YoY/QoQ)..Click on the attachment to read the full report:.Kotak Mahindra Bank Q3 Review: Low Cost Deposits, Succession Planning Are Key Monitorables.More Research Reports On Kotak Mahindra Bank's Q3 FY23 Results Review.Issues With Savings Account Book Continue: Yes SecuritiesNIMs Surge Further; Growth Momentum Intact: ICICI SecuritiesBusiness Growth Robust; Margins Continue To Scale New Highs: Motilal Oswal.DISCLAIMERThis 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."

Kotak Mahindra Bank Q3 Results Review - Growth Momentum Continues; Asset Quality Improves: Axis Securities

Kotak Mahindra Bank continued its loan growth momentum, primarily driven by mortgages, personal loans, credit cards.

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Kotak Mahindra Bank Q3 Results Review - Growth Momentum Continues; Asset Quality Improves: Axis Securities

Kotak Mahindra Bank continued its loan growth momentum, primarily driven by mortgages, personal loans, credit cards.

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