Kotak Mahindra Bank Shares Plummet

21 Oct 2024 , 01:55 PM

Shares of private sector lender Kotak Mahindra Bank dropped more than 4% to Rs 1,793.85 on the NSE following a sequential 11 bps decline in net interest margin (NIM) to 4.91% and an increase in the slippage run-rate due to card delinquencies.

Kotak’s net NPA increased to 0.43% from 0.37% YoY at September’s end, while its GNPA increased to 1.49% from 1.72% YoY.

With a 16% increase in total deposits to Rs 446,110 crore, the CASA ratio improved sequentially from 43.4% in Q1 to 43.6% in Q2. Advances reached Rs 419,108 crore, up 17% YoY.

Mumbai serves as the corporate headquarters of the Indian banking and financial services firm Kotak Mahindra Bank Limited.

The bank provides corporate and retail clients with banking products and financial services in the areas of wealth management, investment banking, life insurance, and personal finance.[6] The bank has 3,239 ATMs and 1,869 branches as of December 2023.

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