Kotak Mahindra Bank rises after Q4 PAT jumps 64% YoY to Rs 2,767 crore

4 May 2022 , 02:55 PM

The banks total income in the last quarter rose by 11.8% year on year to Rs 8,892.26 crore in Q4 FY22. Operating profit before provisions and contingencies for the quarter grew by 12.7% year on year to Rs 3,339.90 crore in quarter ended March 2022.

The bank held total provisions (including specific, standard, COVID-19 related etc.) of Rs 6,710 crore as of 31 March 2022. The provision coverage ratio stood at 73.2% at the end of 31 March 2022.

Net interest income (NII) grew by 18% year on year to Rs 4,521 crore in Q4 FY22 from Rs 3,843 crore posted in Q4 FY21. Net interest margin (NIM) improved to 4.78% in Q4 FY22 from 4.39% posted in the corresponding quarter last year.

As of 31 March 2022, the Bank said it continued to hold provision of Rs 547 crore against the potential impact of COVID-19. Slippages for the quarter stood at Rs 736 crore (0.27% of advances) in Q4 FY22 while recoveries and upgrades came at Rs 897 crore.

On the asset quality front, gross non-performing assets aggregated to Rs 6,470 crore as of 31 March 2022 as against Rs 6,983 crore as at 31 December 2021 and Rs 7,426 crore as at 31 March 2021. The gross NPA ratio was 2.34% as of 31 March 2022, 2.71% as of 31 December 2021 and 3.25% as of 31 March 2021. The net NPA ratio was 0.64% as of 31 March 2021, 0.79% as of 31 December 2021 and 1.21% as at 31 March 2021

On full year basis, the private sector banks net profit rose 23% year on year to Rs 8,572.69 crore on a 4.86% rise in the total income to Rs 33,393.17 crore in the financial year ended March 2022 over financial year ended March 2021.

Average Current deposits grew to Rs 49,776 crore for FY22 compared to Rs 39,481 crore for FY21, up 26%. Advances increased by 21% to Rs 271,254 crore as of 31 March 2022 from Rs 223,670 crore as of 31 March 2021. CASA ratio stood at 60.7% in 31 March 2022 stood at compared to 60.4% as of 31 March 2021.

The board recommended a final dividend of Rs 1.1 per equity share for the financial year ended 31 March 2022

Kotak Mahindra Bank is a full-service commercial bank. As on 31 March 2021, Kotak Mahindra Bank has a national footprint of 1,700 branches and 2,705 ATMs and branches in Gujarat International Finance Tec-City (GIFT) and DIFC (Dubai).

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