Kotak Mahindra Bank Ltd on Saturday released its fiscal third quarter earnings report with consolidated profit at Rs 4,701.02 crore, posting a growth of 10.23 per cent in comparison to Rs 4,264.78 crore during the same period of previous financial year. It posted total income during the quarter in review at Rs 23,945.79 crore, down 0.57 per cent as against Rs 24,083.15 crore during the third quarter of FY24.
Net Interest Income (NII) for Q3 increased to Rs 7,196 crore, up 10 per cent from Rs 6,554 crore in Q3FY24. For 9MFY25, it went up to Rs 21,058 crore, posting a growth of 10 per cent from Rs 19,084 crore in 9MFY24. Net Interest Margin (NIM) was 4.93 per cent for Q3FY25.
In an exchange filing, Kotak Mahindra Bank said that the average total deposits for the period grew to Rs 458,614 crore, up 15 per cent YoY. Average Current Deposits increased to Rs 66,589 crore for Q3FY25, posting a growth of 12 per cent YoY. Average Savings Deposits grew to Rs 124,282 crore for Q3FY25. Average Term Deposits came in at Rs 267,743 crore, up 24 per cent YoY. CASA ratio as at December 31, 2024 stood at 42.3 per cent.
At the consolidated level, Kotak Mahindra posted Return on Assets (ROA) for Q3 (annualized) at 2.30 per cent from 2.46 per cent during Q3FY24. Return on Equity (ROE) for Q3FY25 (annualized) was 12.43 per cent as against 13.83 per cent for Q3FY24. Consolidated Capital Adequacy Ratio as at December 31, 2024 was 23.4 per cent and CET ratio was 22.5 per cent (including unaudited profits). As at December 31, 2024, Average Liquidity Coverage Ratio stood at 132 per cent.
Kotak Mahindra Bank’s consolidated net worth as at December 31, 2024 stood at Rs 152,878 crore (including increase in reserves due to RBI’s Master Direction on Bank’s investment valuation of Rs 5,654 crore and gain on KGI divestment of Rs 2,730 crore). The Book Value per share at December 31, 2024 was Rs 769 (Rs 627 at December 31, 2023).
Total Assets Under Management as at December 31, 2024 were Rs 686,197 crore, up 29 per cent YoY.
Asset quality
As at December 31, 2024, Kotak Mahindra Bank’s GNPA stood at 1.50 per cent and NNPA was 0.41 per cent (GNPA was 1.73 per cent and NNPA was 0.34 per cent at December 31, 2023). As at December 31, 2024, Provision Coverage Ratio stood at 73 per cent.