Kotak Mahindra Bank Consolidate net profit moves up by 10.58 pc to Rs 2575.74 cr
Mumbai/UNI: Kotak Mahindra Bank reported a rise of 10.58 pc in its net profit / for the quarter ended December 31, 20202 at Rs 2575.74 crore as against net profit of Rs 2329.33 crores for the quarter ended December 31, 2019.
Total income for the quarter under review grew by 9.54 pc to Rs 14834.99 crores during the as compared to Rs 13542.43 crores for the quarter ended December 31, 2019.
Net Interest Income (NII) for for the quarter eneded December 31, 2020 increased to Rs 4,007 crore, from Rs 3,430 crore for same quarter a year ago, up 17%. Net Interest Margin (NIM) for Q3FY21 was at 4.51 pc.
CASA ratio as at December 31, 2020 stood at 58. 9 pc compared to 53.7 pc as at December 31, 2019.
Advances as at December 31, 2020 were at Rs 214,103 crore ( Rs. 216,774 crore as at December 31, 2019). Customer Assets, which includes Advances and Credit substitutes, were Rs 228,809 crore as at December 31, 2020 (Rs. 227,206 crore as at December 31, 2019).
Operating profit for Q3FY21 was Rs 3,083 crore, up 29 pc from Rs. 2,388 crore in Q3FY20.
COVID related provisions as at December 31, 2020 stood at Rs 1,279 crore. In accordance with the Resolution Framework for COVID-19 announced by RBI on August 6, 2020, as at December 31, 2020, the Bank has approved, for certain eligible borrowers, one-time restructuring of 0.28 pc of net advances.
Capital adequacy ratio of the Bank as per Basel III, as at December 31, 2020 was 21.5% and Tier I ratio was 20.9 pc.