The private lender’s net interest income (NII) stood at Rs 6,620 crore for July-September 2022 period. This was about 24% higher than NIIs of Rs 5,353 crore in the year-ago period.
The lender reported a net interest margin (NIMs) at 5.17% for Q2FY23, which was 4.45% in the year-ago period, whereas operating profit surged over 14% to Rs 3,567 crore from Rs 3,120 crore.
Kotak Mahindra Bank, which is run by Asia’s richest banker Uday Kotak, reported CASA ratio of 56.2% for September 30, 2022, as against 60.6% a year ago.
At the consolidated level, the annualized return on assets (ROA) was 2.61% for Q2FY23, compared with 2.36% in Q2FY22. Capital adequacy ratio as per Basel III was 23.9% and CET-I ratio (including unaudited profits) was 23%.
Gross NPAs slipped to 2.08% during the said quarter from 2.24% in the June 2022 quarter and 3.19% in the September 2021 quarter.
Net NPAs rose to 0.55% in Q2FY23. It was 0.62% in the preceding quarter and 1.06% in Q2FY22.
Total provisions dropped sharply on yearly basis to Rs 136.5 crore in the quarter from Rs 435.25 crore in the year-ago period.