27 Apr 2023 , 11:46 AM
Result date: 29th April, 2023
Recommendation: Add
Target price: Rs 2,030
(Source: IIFL Research)
Riding high on loan growth of 20-22% and continued traction in mortgage and unsecured products, Kotak Mahindra Bank could post 32.2% growth in Net Interest Income (NII) over the year-ago quarter.
Net Interest Margin (NIM) could see improvement during the quarter. Factors such as favorable loan mix towards high-yielding products, flat cost ratios and strong liability franchise will aid NIMs and operating profit.
It could be another quarter of strong asset quality performance for the Bank. Overall, asset quality could remain stable and credit costs could normalize.
The Bank’s Profit After Tax or PAT could grow 6.9% as compared to the year-ago quarter.
Important management insights to watch out for:
Rs Crore |
March 2023 estimates |
YoY change |
QoQ change |
Net Interest Income (NII) |
5,976 |
32.2% |
5.7% |
Operating Loss |
4,114 |
23.2% |
6.9% |
Loss After Tax |
2,956 |
6.9% |
5.9% |
Source: Brokerage estimates
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