'Kotak Mahindra Bank (KMB), on a standalone basis, reported 81% surge in Net Profit to Rs 6249.82 crore in the quarter ended June 2024 (Q1FY2025) over the corresponding quarter of
last year. The bank has registered gains of Rs 3515.9 crore on 70% stake in its subsidiary Kotak Mahindra General Insurance Company, which boosted the bottomline of the bank. The bank has maintained stable asset quality, while its net interest margins (NIMs) declined in Q1FY2025. NIMs of the bank have eased to 5.02% in Q1FY2025 compared with 5.28% in the previous quarter and 5.57% in the corresponding quarter last year.
The cost-to-income rate increased to 46.21% in Q1FY2025 from 44.76% in the previous quarter and 44.49% in the corresponding quarter last year. The credit cost (NPA provisions as an
annualized percentage of loans) moved up to 0.57% in Q1FY2025 from 0.43% in
Q1FY2024. The loan growth was steady at 20% at end June 2024. The business
growth of the bank eased to 17% at end June 2...
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(18-Nov-2024)
Bharat Forge
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