Kotak Mahindra Bank has posted a 10% year-on-year (YoY) rise in net profit to Rs 4,701 crore for the third quarter of FY25, up from Rs 4,265 crore in the same period last year. However, the net profit dropped by 7% sequentially compared to Rs 5,044 crore in the previous quarter. The bank’s financial performance highlights steady growth in key areas despite some sequential pressures.
NII for Q3FY25 was up 10% YoY at Rs 7,196 crore from Rs 6,554 crore a year ago. The NIM during the quarter was 4.93%, showing stable profitability. On the asset quality front, gross non-performing assets increased marginally to Rs 7,218 crore, while the gross NPA ratio stood at 1.51% as of December 31, 2024. The net NPA also rose marginally to Rs 2,070 crore, while the net NPA ratio improved to 0.44% from 0.45% a quarter ago. Provision Coverage Ratio was maintained at 73%.
Deposits fared well with average total deposits up 15% y-y at Rs4.59 lac crores and current deposits surging 12% y-o-y to 66,589 crore. Savings deposit growth was mere 1% y-o-y at Rs 1.24 lac crore and term deposits fared exceptionally with a 24% yoy growth to 268 lac crores. CASA has been maintained strong at 42.3% on December 31, 2024.
Advances also increased 16% YoY to Rs 4.34 lakh crore, with unsecured retail advances at 10.5% of the total net advances. Fees and services income for the quarter increased 10% YoY to Rs 2,362 crore, representing healthy growth in non-interest income.
The capital adequacy ratio of Kotak Mahindra Bank stood at 22.8% as of Basel III norms, with a CET-1 ratio of 21.7%, reflecting its strong capital position. The stock of the bank closed 2.58% lower at Rs 1,759.05 on the NSE on January 17.
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Source: Moneycontrol
News Desk
