Kotak Mahindra Bank reported a 5 per cent year-on-year (YoY) rise in standalone profit after tax (PAT) for the July-September 2024 quarter, reaching $3,344 crore, compared to $3,191 crore in Q2FY24.
The bank’s net interest income (NII) for Q2FY25 rose 11 percent year-on-year to $7,020 crore, as against $6,297 crore in the same period last year. However, the net interest margin (NIM) declined to 4.91 per cent, compared to 5.22 per cent in Q2FY24.
Asset quality, key ratios
In September 2024, the gross non-performing assets (GNPA) ratio improved to 1.49 percent, up from 1.72 percent a year ago. Net NPLs stood at 0.43 per cent, slightly up from 0.37 per cent in Q2FY24.
The bank reported a capital adequacy ratio of 22.6 percent under Basel III norms, with a CET1 ratio of 21.5 percent, including unaudited profits. The annualized return on assets (RoA) fell to 2.17 percent from 2.45 percent in the same period last year.
Kotak’s total deposits rose 16 percent year-on-year to $4,46,110 crore, while advances increased by 17 per cent to $4,19,108 crores. The bank’s CASA ratio also saw a slight improvement, rising to 43.6 percent from 43.4 percent in the previous quarter.
Consolidated performance
At a consolidated level, the bank’s PAT rose 13 percent year-on-year to $5,044 crores. Assets under management (AUM) at the end of September increased 37 percent year-on-year to $6,80,838 crore, compared to $4,98,342 crore in Q2FY24.
Kotak Securities published a PAT of $324 crore, down from $400 crore year-on-year, and its market share fell from 12.2 percent to 11.6 percent. Meanwhile, Kotak Mahindra AMC’s PAT rose to $197 crores $124 crore sequentially, with its AUM expanding 37 percent year-on-year to $6,80,838 crores.
Shares of Kotak Mahindra Bank ended 0.32 per cent higher on Friday, closing at $1,869.80 in the BSE.
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