Kotak Mahindra Bank - Q3FY14 result - Microsec

Kotak Mahindra Bank Ltd. announced its Q3FY14 result on 21st January 2013.

The Bank's total income decreased by 0.72% QoQ while, increased by 7.51% YoY to INR1212.45 crores, driven by 10.92% YoY growth in its Net Interest Income (NII) to INR912.74 crores. Whereas, Profit After Tax (PAT) decreased by 3.56% QoQ and 6% YoY to INR339.98 crores. During the quarter, the Bank has increased its provisions by 64.64% YoY to INR69.74 crores, which has dragged its bottom line.

The Bank's loans book and total deposits expanded by 5.78% and 6.11% YoY to INR53149 and INR54671 crores respectively. On the asset quality front, Gross NPA and Net NPA deteriorated by 4 and 14bps QoQ to 2.01% and 1.10% respectively. However, the Bank has improved its low cost deposits base (CASA ratio) by 100bps QoQ and 400bps YoY to 30%, which has helped it to improve its Net Interest Margin (NIM) by 30bps YoY to 4.80%. The Bank is well capitalized to support its growth trajectory with 17.43% of its Basel III Capital Adequacy Ratio (CAR), which is 843bps higher than the regulator's stipulated norm.

Source : Equity Bulls

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