Kotak Mahindra Bank Q3 Results FY2023, Net Profit at Rs. 2,791.8 Crores

Kotak Mahindra Bank Q3 Results FY2023

Corporate Action
by Shreya Anaokar Last Updated: 2023-01-23T14:17:56+05:30

On 21st January 2023, Kotak Mahindra Bank announced its results for the third quarter of FY2023.

Key Highlights:

- Net Interest Income (NII) for Q3FY23 increased to Rs. 5,653 crores, up 30% YoY. 
- Net Interest Margin (NIM) was 5.47% for Q3FY23.
- Fees and services for Q3FY23 were Rs. 1,847 crores, up 23% YoY. 
- Operating profit for Q3FY23 was Rs. 3,850 crore, up 43% YoY.
- The Bank’s PAT for Q3FY23 stood at Rs. 2,791.8 crores, up 31% 

Business Highlights:

- Customers as of December 31, 2022, were 39.0 million. 
- Customer Assets, which comprise Advances and Credit substitutes, increased by 24% to Rs. 3,39,313 crore. 
- Advances increased by over 23% to Rs. 3,10,734 crore.
- CASA ratio as at December 31, 2022, stood at 53.3%. 
- As of December 31, 2022, COVID-related provisions stood at Rs. 400 crores.
- GNPA was 1.90% & NNPA was 0.43%. 
- Credit cost on advances for Q3FY23 was 27 bps (annualized) (including standard provisioning; excluding reversal of COVID & restructuring). 
- The provision coverage ratio stood at 77.6%. 
- Capital Adequacy Ratio of the Bank, as per Basel III, as at December 31, 2022 was 21.7%, and CET I ratio of 20.7%.
 


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number