Net interest income, the difference between interest earned and interest expended, grew 23.5% on year to Rs 6,297 crore. Provisions during the quarter doubled on year to Rs 367 crore.
Net interest margin (NIM) was 5.22% in the September quarter. Fees and services for the quarter increased 24% on year to Rs 2,026 crore. Operating profit grew 29% on year to Rs 4,610 crore.
Balance Sheet Metrics
Advances as of September end stood at Rs 3.57 lakh crore, registering a YoY growth of 21%. Customer Assets, which comprises advances and credit substitutes, increased by 18% YoY to Rs 3.80 lakh crore as of September 30.
Unsecured retail advances as a percentage of net advances stood at 11.0% as of September end, compared to 8.7% a year ago.
The current account savings account (CASA) ratio as of September end stood at 48.3%. Average current deposits grew to Rs 58,351 crore in the quarter, from Rs 53,971 crore a year ago.
Average savings deposits stood at Rs 1.22 lakh crore as of September 30. Average term deposit rose 47% on year to Rs 1.39 lakh crore.
The Capital Adequacy Ratio as of September 30, was 21.7%, with a CET-I ratio of 20.6%.
Consolidated Numbers
At the consolidated level, Kotak Bank’s net profit for the quarter rose 24% on year to Rs 4,461 crore.
The annualized Return on Assets (RoA) for the quarter was 2.68%, compared to 2.61% a year ago. Return on Equity (RoE) for the quarter was 14.99%, compared to 14.09% a year ago.
Consolidated Capital Adequacy Ratio as per Basel-III was 22.9% at the end of the quarter, and CET I ratio was 21.9%.
The total assets managed/advised by the Group as of September 30, was Rs 4.98 lakh crore, up 28% from the year-ago period. The Alternate Assets’ AUM increased by 61% YoY to Rs 44,456 crore.
On Friday, shares of the private sector lender nearly 2% higher on the National Stock Exchange at Rs 1,769.60.
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