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Kotak Mahindra Bank Q4 consolidated net rises by 35.91 pc to Rs 2589.32 cr Kotak Mahindra Bank
UNI

Kotak Mahindra Bank Q4 consolidated net rises by 35.91 pc to Rs 2589.32 cr

India Blooms News Service | @indiablooms | 03 May 2021, 03:27 pm

Mumbai/UNI: Private sector lender Kotak Mahindra Bank reported a rise of 35.91 pc in its consolidated net profit for the quarter ended March 31, 2021 at Rs.2589.32 crore as against net profit of Rs.1905.18 crores for the quarter ended March 31, 2020.

Total income for the quarter ended March 31, 2021 advanced by 33.85 pc to Rs 16175.87 crores as compared to Rs 12084.71 crore for the quarter ended March 31, 2020.

On standalone basis Bank's net profit for the quarter ended March 31, 2021grew by 33 percent to Rs. 1,682 crore as compared with Rs 1,267 crore for the quarter ended March 31, 2020.

Net Interest Income (NII) for quarter under review increased to Rs. 3,843 crore, from Rs 3,560 crore in same quarter a year ago up 8 pc and Net Interest Margin (NIM) for quarter ended March 31,2021 was at 4.39 pc. Operating profit for quarter under review was Rs. 3,407 crore, up 25, pc from Rs. 2,725 crore in quarter ended March 31, 2020.

CASA ratio as at March 31, 2021 stood at 60.4 pc compared to 56.2% as at March 31, 2020.

Average Savings deposits grew by 27 pc to Rs. 108,812 crore for FY21 compared to Rs. 85,656 crore for FY20. Average Current Account deposits grew by 17 pc to Rs. 39,481 crore for FY21 compared to Rs. 33,699 crore for FY20.

CASA and TDs below Rs. 5 crore as at March 31, 2021, constituted 91 pc of total deposits . TD Sweep deposits as at March 31, 2021 were 7.5 pc of total deposits Advances as at March 31, 2021 were Rs. 223,689 crore
Customer Assets, which includes Advances and Credit substitutes, were Rs. 238,857 crore as at March 31, 2021
Capital adequacy ratio of the Bank as per Basel III, as at March 31, 2021 was 22.3 pc and Tier I ratio was 21.4 pc.

The Board of Directors of the Bank has recommended dividend of Rs. 0.90 per equity share having face value of Rs. 5, for the year ended March 31, 2021, subject to approval of shareholders.