​​​
  1. Kotak Mahindra Bank Q3 profit up 20 per cent

Kotak Mahindra Bank Q3 profit up 20 per cent

Indian private sector lender Kotak Mahindra Bank Ltd posted a nearly 20 percent increase in third-quarter profit on Friday, helped by higher interest and fee income and as bad loans dropped.

By: | Published: January 19, 2018 1:19 PM
Kotak Mahindra Bank, Kotak Mahindra Bank profit, kotak profit, Net interest income, gross non-performing assets, Kotak NPA, Kotak mahindra NPA, Kotak mahindra profits Indian private sector lender Kotak Mahindra Bank Ltd posted a nearly 20 percent increase in third-quarter profit on Friday, helped by higher interest and fee income and as bad loans dropped. (Reuters)

Indian private sector lender Kotak Mahindra Bank Ltd posted a nearly 20 percent increase in third-quarter profit on Friday, helped by higher interest and fee income and as bad loans dropped. Net profit rose to 10.53 billion rupees ($165.11 million) in the quarter ended Dec. 31, from 8.80 billion rupees a year earlier, the country’s fourth-largest private bank by assets said in a statement. Analysts on average had expected a net profit of 10.69 billion rupees, according to Thomson Reuters data. Gross bad loans as a percentage of total loans stood at 2.31 percent at end-December, compared with 2.47 percent in the previous quarter and 2.42 percent in the same period a year ago. Net interest income rose about 17 percent to 23.94 billion rupees.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top