Business Business:Kotak Mahindra Bank reported 5 per cent year-on-year (YoY) growth in standalone profit after tax (PAT) for the July-September 2024 quarter at ₹3,344 crore compared to ₹3,191 crore in Q2FY24 . The bank's net interest income (NII) for Q2FY25 rose 11 per cent to ₹7,020 crore from ₹6,297 crore in the same period last year. However, net interest margin (NIM) declined to 4.91 per cent as compared to 5.22 per cent in Q2FY24. Asset quality, key ratios As of September 2024, the gross non-performing asset (GNPA) ratio declined to 1.49 per cent from 1.72 per cent a year ago. Net NPA stood at 0.43 per cent, slightly higher than 0.37 per cent in Q2FY24.
The bank recorded a capital adequacy ratio of 22.6 per cent under Basel III norms, including CET1 ratio of 21.5 per cent including unaudited profit. Annual return on assets (ROA) declined to 2.17 percent from 2.45 percent in the same period last year.
Kotak's total deposits grew 16 per cent year-on-year to ₹4,46,110 crore, while advances grew 17 per cent to ₹4,19,108 crore. The bank's CASA ratio also improved marginally to 43.6 per cent from 43.4 per cent in the previous quarter. At the consolidated level, the bank's PAT increased 13 per cent year-on-year to ₹5,044 crore. Assets under management (AUM) grew 37 per cent year-on-year to ₹6,80,838 crore at the end of September, compared to ₹4,98,342 crore in Q2FY24.
Kotak Securities posted PAT of ₹324 crore, down from ₹400 crore year-on-year, and its market share declined to 11.6 per cent from 12.2 per cent. Meanwhile, Kotak Mahindra AMC's PAT rose sequentially to ₹197 crore from ₹124 crore, and its AUM grew 37 per cent year-on-year to ₹6,80,838 crore. Shares of Kotak Mahindra Bank closed 0.32 per cent higher at ₹1,869.80 on the BSE on Friday.
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