Kotak Mahindra Bank standalone PAT jumps 65 pc to Rs 2,767 crore
The Hindu
For the full financial year 2021-22, PAT increased by 23% to ₹8,573 crore
Private sector lender Kotak Mahindra Bank on Wednesday reported a 65% jump in its standalone profit after tax to ₹2,767 crore in the quarter ended March, helped by higher growth in net interest income and healthy asset quality.
For the full financial year 2021-22, PAT increased by 23% to ₹8,573 crore .
"If you look at our Q4 numbers, our slippages have been extremely under control. On an annualised basis our slippage ratio is 1.08%. Our slippage ratio actually now demonstrates that the quality of our credit book is extremely robust as we exit COVID," the bank's managing director and CEO Uday Kotak told reporters.
Consolidated PAT for Q4 FY22 was ₹3,892 crore, up 50% from ₹2,589 crore in the fourth quarter of FY21. For the entire FY22, Consolidated PAT increased to ₹12,089 crore from ₹9,990 crore in FY21.
Kotak said the consolidated profit is truly broad based and not dependent disproportionately only on the bank.
Net Interest Income (NII) for the fourth quarter increased by 18% to ₹4,521 crore from ₹3,843 crore.
Kotak said the bank's NIM (Net Interest Margin) has always been high as the mix of retail is higher than wholesale in the loan book.
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