Private sector lender Kotak Mahindra Bank on Saturday reported a 26.31 per cent jump in its standalone net profit at Rs 3,495.59 crore, compared with Rs 2,767.4 crore. It has also announced a dividend of Rs 1.50 per equity share for the financial year 2022-23.
“The board of directors of Kotak Mahindra Bank Limited have, at their meeting held today, inter alia, recommended a dividend of Rs 1.50 per equity share of the face value of Rs 5 each, out of the net profits for the financial year ended March 31, 2023, subject to the approval of the Members at the ensuing annual general meeting of the bank,” Kotak Mahindra Bank said in a regulatory filing.
Kotak Mahindra Bank’s net interest income for Q4 FY23 increased to Rs 6,103 crore, from Rs 4,521 crore in Q4 FY22, up 35 percent. Net interest margin (NIM) was 5.33 per cent for FY23 and 5.75 per cent for Q4 FY23, the bank said in a statement.
During the March 2023 quarter, the lender added 2.2 million customers. Customers as on March 31, 2023 stood at 41.2 million compared to 32.7 million, same time last year.
Customer assets, which comprises advances (IBPC & BRDS) and credit substitutes, increased by 19 per cent YoY to Rs 3,52,652 crore as at March 31, 2023 from Rs 2,95,273 crore as at March 31, 2022. Net Advances increased by over 18 per cent to Rs 3,19,861 crore as at March 31, 2023 from Rs 2,71,254 crore as at March 31, 2022.
CASA ratio as at March 31, 2023 stood at 52.8 per cent.
As at March 31, 2023, GNPA was 1.78 per cent and NNPA was 0.37 per cent (GNPA was 2.34 per cent & NNPA was 0.64 per cent at March 31, 2022). Credit cost on net advances for Q4FY23 was 24 bps (annualised) (including standard provisioning; excluding reversal of COVID & restructuring). The provision coverage ratio stood at 79.3 per cent.
Capital Adequacy Ratio of the Bank, as at March 31, 2023 was 21.8 per cent and CET I ratio of 20.6 per cent.
Read all the Latest Business News, Tax News and Stock Market Updates here
Comments
0 comment