InvestorQ : How did you find the Kotak Bank results announced on Monday 04 May?
Arya Nanda made post

How did you find the Kotak Bank results announced on Monday 04 May?

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Anjana Aiyar answered.
4 days ago
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Kotak Mahindra Bank reported 36% higher net profit at Rs.2,589 crore in the Mar-21 quarter largely led by a 7.9% growth in the net interest income or the NII. However, the bank also saw its net interest margins or NIMs contract from 4.72% to 4.39%. In terms of revenues, the retail and wholesale banking revenues were tepid while treasury income was higher.

On the top line, the biggest growth came from group insurance revenues where were up by nearly 5-fold on a yoy basis. Broking incomes also saw growth but that was much smaller in the overall scheme of things. The bank also witnessed a sharp spike in gross NPAs of over 100 bps at 3.25%. The spillages may be something to watch out for.

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