The web curiosity earnings elevated 23 per cent to Rs 6,297 crore from Rs 5,099 crore a 12 months in the past. (Representative picture)
Its whole earnings through the July-September interval grew to Rs 13,507 crore in opposition to Rs 9,925 crore within the 12 months-in the past quarter,
Kotak Mahindra Bank on Saturday reported a 24 per cent rise in its standalone web revenue to Rs 3,191 crore for the quarter ended September 30, primarily on the again of enchancment within the core earnings and decrease dangerous loans. The non-public sector lender had posted a web revenue of Rs 2,581 crore in the identical quarter of the earlier fiscal 12 months.
Its whole earnings through the July-September interval grew to Rs 13,507 crore in opposition to Rs 9,925 crore within the 12 months-in the past quarter, Kotak Mahindra Bank mentioned in a regulatory submitting. The web curiosity earnings elevated 23 per cent to Rs 6,297 crore from Rs 5,099 crore a 12 months in the past.
Its web curiosity margin for the quarter rose to five.22 per cent in opposition to 5.17 per cent within the corresponding interval of the earlier monetary 12 months. On the property high quality entrance, the financial institution additionally witnessed an enchancment, with gross non-performing property (or dangerous loans) declining to 1.72 per cent of gross advances on the finish of September 2023 in comparison with 2.08 per cent a 12 months in the past.
Similarly, the online NPAs dropped to 0.37 per cent from 0.55 per cent in the identical quarter a 12 months in the past. The financial institution’s capital adequacy ratio stood at 21.7 per cent as of September 30, 2023.
On a consolidated foundation, the financial institution reported a 24 per cent rise in its web revenue to Rs 4,461 crore within the September quarter in comparison with Rs 3,608 crore in the identical interval of the earlier fiscal. Its whole earnings on a consolidated foundation elevated to Rs 21,560 crore in opposition to Rs 17,435 crore within the 12 months-in the past quarter.
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)
