Individuals and businesses can turn to Kotak Mahindra Bank for a variety of financial services. The bold vision that has driven Kotak’s growth is one of inclusion, with a variety of products and services tailored to meet the needs of the unbanked and underbanked.
Kotak is one of India’s largest diversified and integrated financial services conglomerates, offering a broad range of products and services in banking (consumer, commercial, and corporate), credit and financing, asset management, life and general insurance, stock broking, investment banking, wealth management, microfinance, and asset reconstruction to customers across India.
Kotak Mahindra Bank has a significant branch and franchise network spread over India. They also have worldwide offices in New York, London, Mauritius, Dubai, Singapore, and Abu Dhabi, as well as an international banking unit in Gujarat International Finance Tec-City (GIFT City) and a bank branch in Dubai International Financial Centre (DIFC).
Kotak Mahindra Bank Q4 Results 2022 – Highlights
- Kotak Mahindra Bank’s standalone net profit increased by 64.5 % year on year to Rs. 2,767 crore for the quarter ended March 31, 2022.
- The private lender had reported a net profit of Rs. 1,682 crore in the year-ago period.
- The lender’s net interest income (NII) for Q4-22 increased to Rs. 4,521 crore, from Rs. 3,843 crore in the same quarter last fiscal, up 18 per cent.
- The interest earned by Kotak Mahindra Bank in the March quarter was Rs. 7,066 crore, up from Rs. 6,449 crore a year ago.
- The bank said that it wrote back COVID-19 provisions of Rs. 453 crore in the said quarter.
- The bank’s gross non-performing assets (GNPA) were 2.34 percent as of March 31, 2022, compared to 2.71 percent the previous quarter, while net non-performing assets (NNPA) were 0.64 percent, compared to 0.79 percent in Q3-22.
- In addition, for the fiscal year ending March 31, 2022, the Board of Directors has recommended a dividend of Rs 1.10 per equity share with a face value of Rs. 5, subject to shareholder approval.
- Kotak Mahindra Bank’s stock rose 2.29 percent to Rs. 1,814.40 a share on the BSE after the company announced its quarterly results late Wednesday.
Kotak Mahindra Bank Q4 Results – Segment Wise Analysis
Retail Banking:
Profit in this segment in quarter 4 – 2022 is Rs. 648 crores, while this segment was at a loss of Rs. 77 crores in a year ago period.
Corporate Banking:
This segment has seen a steady growth in its revenue to Rs. 3,633 crore in Q4-22 from Rs. 3,254 crore in Q4-21.
Insurance:
Revenue from this segment has increased from Rs. 3788 crore in quarter 3 – 2022 to Rs. 6,055 crore in quarter 4.
Vehicle Financing:
Revenue from this segment has increased by 18% from Rs. 479 crore in Q4-21 to Rs. 566 crore in Q4-22.
Broking:
Revenue from this segment has seen a significant growth from Rs. 527.8 crore in Q4-21 to Rs. 679.6 crore in Q4-22.
Advisory & Transactional services:
Profit of this segment has grown multifold from Rs. 43.2 crore in Q4-21 to Rs. 108 crore in Q4-22.
Asset Management:
Revenue of this segment has also seen a steady growth from Rs. 323 crore in Q4-21 to Rs. 365 crore in Q4-22.
Treasury, BMU & Corporate center:
This segment has seen a fall in revenue from Rs. 2,815 crore in Q4-21 to Rs. 2,055 crore in Q4-22, but segment profit has increased from Rs. 1,031 crore in Q4-21 to Rs. 1,280 crore in Q4-22.
Other Lending Activities:
Revenue from other lending segments has also increased from Rs. 343 crore in Q4-21 to Rs. 373 crore in Q4-22.
Net Interest Income (NII) increased 18% year on year to Rs. 4,521 crore from Rs. 3,843 crore the previous quarter. The quarterly Net Interest Margin (NIM) was 4.78 percent. The gross non-performing asset (NPA) rate was 2.34 percent, down from 2.71 percent in the previous quarter and 3.25 percent the year before.
Source – Bloomberg
Source – Bloomberg
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