BUSINESS

Kotak Mahindra Bank Q2FY23 Results: Private lender reports robust numbers; PAT, NII each grow 27% YoY – check highlights

Kotak Mahindra Bank Q2FY23 Results: The net interest margin of the bank as of September 30, 2022, came at 5.17 per cent as against 4.45 per cent in Q2FY22, Kotak Mahindra Bank said in its results filing.

Kotak Mahindra Bank Q2FY23 Results: Private lender Kotak Mahindra Bank on Saturday reported robust earnings for the second quarter of the financial year 2022-23 (Q2FY23), with both profit and net interest income (NII) growing double-digit, along with improving asset quality during the quarter.

Read More: Dhanteras Gold Rates: 10 Grams Of 24-Carat Gold Falls To Rs 50,560; Check Latest Rates In Your City

Kotak Mahindra Bank’s profit after tax (PAT) grew by 27 per cent year-on-year (YoY) to Rs 2,581 crore in the July-September quarter of FY23 against Rs 2032 crore in the same quarter a year ago.

While the banking major’s NII also grew nearly 27 per cent YoY to Rs 5099 crore in Q2FY23 as compared to Rs 4021 crore in the July-September quarter of the previous fiscal.

The bank’s asset quality improved during the quarter as the gross non-performing assets (NPA) dipped to 2.08 per cent in Q2FY23 as compared to 2.24 per cent quarter-on-quarter, similarly, its net NPA to fell marginally to 0.55 per cent to 0.62 per cent sequentially during the quarter.

Read More:-Assurance benefit: EPFO clarifies on death benefit for subscriber on leave without pay, here’s all you want to know regarding EDLI scheme

The net interest margin of the bank as of September 30, 2022, came at 5.17 per cent as against 4.45 per cent in Q2FY22, Kotak Mahindra Bank said in its results filing.

Read More: As Online Financial Frauds Surge, Here’s a Guide to Protect You Against It

CASA (Current Account and Savings Account) ratio as of September 30, 2022, stood at 56.2 per cent, the bank also said in the release.

Shares of Kotak Bank on Friday concluded over 2 per cent higher to Rs 1902.9 per share on the BSE as compared to a 0.18 per cent rise in the S&P BSE Sensex at the close.

Read More: Bank Holiday on Diwali? Banks to Remain Closed for 6 Days From Tomorrow; Know Details

Kotak Mahindra Group (the Group) offers a wide range of financial services that encompass every sphere of life.

Read More:-Booking Fixed Deposit? Check what SBI, ICICI, HDFC Bank offer for 1, 2, 3, 5 and 10 years

From commercial banking to stock broking, mutual funds, life/general insurance, and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector.

Source :
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top