Kotak Bank – Rise

Kotak Mahindra Bank Limited is an Indian banking and financial services company which has their headquarters in Mumbai. They provide banking products and financial services for corporate and retail customers in the terms of personal finance, investment banking, life insurance, and wealth management. The bank is India’s third largest private sector bank by market capitalisation. As of February 2021, the bank has 1600 branches and 2519 ATMs.

Kotak Mahindra Bank’s Q4 PAT has surged by a massive 26% YoY and 25.20% QoQ to ₹3,495 crore which had been at ₹2,767 crore in Q4FY22 and ₹2,792 crore in Q3FY23.

The net interest income (NII) which is the difference between interest earned and expended has registered a brilliant growth of 35% to ₹6,102 crore as compared to the NII of ₹4,521 crore in Q4FY22. NII had a single-digit growth of 8% sequentially from ₹5,653 crore in Q3FY23.

Provisions were largely dampened sequentially to ₹147 crore in Q4FY23 as compared to ₹149 crore in the Q3FY23. However, in Q4FY22, the bank’s provisions were lower for ₹306 crore.

Gross non-performing assets (GNPA) have been reduced steeply to 1.78% in Q4FY23 as compared with 2.34% in Q4FY22 and 1.90% in Q3FY23. Net NPA have shrunk to 0.37% in Q4FY23 as compared to 0.64% in Q4FY22 and 0.43% in Q3FY23.

During Q4FY23, the bank’s net customer additions was at 22 lakhs. Total customers as at March 31, 2023 were 4.12 crores as compared to 3.27 crores as of March 31, 2022.

Customer assets, which consists of Advances (including IBPC & BRDS) and credit substitutes, have risen by 19% YoY to ₹3,52,652 crore as of 31 March 2023 from ₹2,95,273 crore as of 31 March 2022. Net Advances have risen by over 18% to ₹3,19,861 crore as of 31 March 31 2023 from ₹2,71,254 crore as of 31 March 2022.

The bank’s PAT has risen to ₹10,939 crore from ₹8,573 crore in FY22 which is up 28% YoY for FY23.

The Capital Adequacy Ratio of the Bank as of 31 March 2023 was 21.8% and CET-1 ratio was at 20.6%.

The total assets managed / advised by the Group on a consolidated bases as of 31 March2023 were ₹4,20,880 crore which are up by 10% YoY from ₹3,82,709 crore as of 31 March 2022.

Kotak Bank has declared a dividend of Rs. 1.50 per equity share having a face value of ₹5 each from the net profits for the financial year ending on 31 March 2023.

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