Market Update

Kotak Mahindra Bank Profit falls 7% in Q2 results

kotak mahindra bank result

Kotak Mahindra Bank : Net interest income (NII) for the bank rose 3 per cent YoY to Rs 4,021 crore from Rs 3,897 crore in the same quarter last year. Net interest margin (NIM) for the quarter came in at 4.45 per cent, the private lender said in a BSE filing.

Gross non-performing assets (GNPA) ratio stood at 3.19 per cent in the September quarter, which was better than 3.56 per cent in the June quarter, but higher than 2.70 per cent (pro-forma) in the year-ago quarter.

Provisions and contingencies for the quarter fell sequentially to Rs 424 crore from Rs 704 crore in the preceding quarter but was higher than Rs 333 crore in the year-ago quarter.

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