Kotak Mahindra Bank registered a near 115% spurt in profit (after tax) at Rs 363.70 crore furring its third quarter ending December 31, 2007 as against the Rs 169.6 crore during the same quarter of 2006.
While fee income was up by 67% to Rs 527.5 crore, consolidated advances were up at 56% YoY to Rs 21400 crore, with retail and commercial loans comprising 86% of the portfolio.
Consolidated NIM (net interest margin) was at 5.7%. Bhatt said that the bank raised Rs 1,600 crore through QIP (qualified institutional placement) in October 2007, which was partly responsible for this level of NIM.
Consolidated net NPA excluding stressed asset portfolio was at 0.33%. Deposits of the bank grew by 47% to Rs 14,300 crore (excluding temporary deposits held as collection bankers to IPOs) as compared to Rs 9,700 crore earlier. Current and savings account deposits comprised 24% of total deposits (18%). Advances grew by 54% to Rs 14,600 crore from Rs 9,500 crore, a year ago.
The bank?s capital adequacy ratio was at 18.4%.
Centurion Bank of Punjab has registered a 44% rise in its net profit at Rs 48.30 crore for the quarter ended December 31, 2007 as against Rs 33.60 crore profit earned during the corresponding period last year. The total income earned during the quarter grew by 46%, net interest income increased by 38% at Rs 19 crore and the net interest margin of the bank remained at 3.6%. As on December 31, 2007, the net non-performing assets ratio of the bank was 1.69% and the capital adequacy ratio was 11.5%. The deposits grew by 65% at Rs 2,071 crore and the bank’s CASA ratio remained at 24.50% as on December 31, 2007.
The retail advances increased to Rs 902.20 crore for the quarter ended December 31, 2007 from Rs 649.97 crore in the third quarter of the last financial year.
The advances to SME sector businesses increased to Rs 281.17 crore for the quarter as against Rs 116.90 crore during the corresponding period last year.