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Synopsis: Kotak Mahindra Bank reported a 5% year-on-year increase in standalone profit after tax (PAT) for Q2 FY25, reaching3,344 crore, up from3,191 crore in Q2 FY24. This growth was driven by higher net interest income (NII), which rose by 11% to7,020 crore. However, the net interest margin (NIM) declined to 4.91% compared to 5.22% in the previous year. The bank’s gross non-performing assets (NPAs) improved, dropping to 1.49% from 1.72%, although net NPAs slightly increased to 0.43%.
Financial Performance Highlights:
Net Interest Income & Margin:
NII grew by 11% YoY to7,020 crore.
NIM decreased to 4.91% from 5.22% in Q2 FY24.
Profit & Consolidated Performance:
Standalone PAT increased by 5% YoY to3,344 crore.
Consolidated PAT rose by 13% to5,044 crore.
Total income was15,900 crore, up from13,507 crore.
Asset Quality & Capital Adequacy:
Gross NPAs reduced to 1.49%, while net NPAs increased to 0.43%.
Capital adequacy ratio stood at 22.6% as per Basel III norms.
Subsidiary Performance:
Subsidiaries like Kotak Securities and Kotak Mahindra Life Insurance showed significant profit increases, with Kotak Securities reporting a 37% rise to444 crore and Kotak Mahindra Life Insurance posting a 45% growth to360 crore.
Customer Growth & Advances:
The bank’s customer base expanded to 5.2 crore, up from 4.6 crore last year.
Advances grew by 17% YoY to419,108 crore.
Disclaimer: The above information is based on the financial performance data released by Kotak Mahindra Bank for Q2 FY25. It reflects the bank's quarterly results and may include forward-looking statements.
