Kotak Mahindra Bank has declared its Q4 monetary outcomes.
Kotak Mahindra Bank’s Q4 Results: The lender has introduced a dividend of Rs 1.50 per fairness share for the monetary 12 months 2022-23
Private sector lender Kotak Mahindra Bank on Saturday reported a 26.31 per cent leap in its standalone web revenue at Rs 3,495.59 crore, in contrast with Rs 2,767.4 crore. It has additionally introduced a dividend of Rs 1.50 per fairness share for the monetary 12 months 2022-23.
“The board of administrators of Kotak Mahindra Bank Limited have, at their assembly held at present, inter alia, beneficial a dividend of Rs 1.50 per fairness share of the face worth of Rs 5 every, out of the online income for the monetary 12 months ended March 31, 2023, topic to the approval of the Members on the ensuing annual common assembly of the financial institution,” Kotak Mahindra Bank said in a regulatory filing.
Kotak Mahindra Bank’s net interest income for Q4 FY23 increased to Rs 6,103 crore, from Rs 4,521 crore in Q4 FY22, up 35 percent. Net interest margin (NIM) was 5.33 per cent for FY23 and 5.75 per cent for Q4 FY23, the bank said in a statement.
During the March 2023 quarter, the lender added 2.2 million customers. Customers as on March 31, 2023 stood at 41.2 million compared to 32.7 million, same time last year.
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