Private sector lender Kotak Mahindra Bank (KMB) on Wednesday reported a web revenue of Rs 2,767 crore within the March quarter of FY22, up 64.5% year-on-year (y-o-y), on the again of sturdy progress in loans and web curiosity revenue (NII), and provision write-backs.
KMB’s NII — the distinction between curiosity earned and curiosity expended — rose 18% y-o-y to Rs 4,521 crore, and its web curiosity margin (NIM), a key measure of profitability, rose 16 foundation factors (bps) sequentially to 4.78%.
Customer belongings, which embody advances and credit score substitutes, stood at Rs 2.92 trillion as on March 31, up 23% y-o-y. Advances as on March 31 had been at `2.71 trillion, up 21% y-o-y.
Deposits grew over 11% y-o-y to Rs 3.12 trillion. Average financial savings account (SA) deposits grew 11% y-o-y and common present account (CA) deposits grew 26% y-o-y. The CASA (present account, financial savings account) ratio as on March 31, 2022 stood at 60.7%, up from 60.4% as on March 31, 2021.
The financial institution mentioned that it’s classifying provisions web of write-backs of mark-to-market depreciation on investments beneath different revenue, from the quarter ended September 2021. As a end result, it reversed provisions value Rs 519.15 crore throughout Q4FY22 and reported a unfavourable provision of Rs 306 crore, as in opposition to provisions of Rs 734 crore in Q4FY21.
KMB’s complete provisions stood at Rs 6,710 crore as on March 31, 2022. The financial institution’s provision protection ratio (PCR) stood at 73.2% on the finish of March.
Under the Covid-resolution framework, the financial institution had a typical restructured fund-based excellent of Rs 417 crore, amounting to 0.15% of advances. Under the MSME decision framework, KMB had normal restructured fund-based excellent of Rs 788 crore, or 0.29% of advances, as on March 31, 2022.
KMB noticed an enchancment on the asset high quality entrance in This autumn, with the gross non-performing asset (NPA) ratio falling 37 bps sequentially to 2.34%. The web NPA ratio fell 15 bps sequentially to 0.64%.
The capital adequacy ratio of KMB, as per Basel III norms, stood at 22.7%, and the Tier-I ratio was at 21.7% on the finish of March. KMB’s shares on the BSE ended 0.07% larger than their earlier shut, at Rs 1,775 on Wednesday.
Source: www.financialexpress.com”