Private sector lender Kotak Mahindra Bank on October 22 reported a 27 percent growth in standalone profit after tax (PAT) as well as net interest income (NII) for the quarter that ended September 30, 2022.
The standalone profit increased to Rs 2,581 crore during the quarter, up from Rs 2,032 crore in the corresponding period of the last fiscal, the Mumbai-headquartered bank said in its BSE filing. Net interest income, the difference between interest earned and interest expended, climbed to Rs 5,099 crore from Rs 4,021 crore in the year-ago period, with the net interest margin expanding 72 basis points (bps) year on year (YoY) to 5.17 percent for Q2FY23. Kotak Mahindra said it recorded a 25 percent YoY growth in customer asssets, which includes advances and credit substitutes, at Rs 3.21 lakh crore as of September 2022, with advances also growing over 25 percent to Rs 2.94 lakh crore in the same period. Deposits rose by 11.5 percent to Rs 3.25 lakh crore YoY. Stock Market Today Share Market Today Bank Nifty Option Indian Stock Market Trading India Share Market Shares To Buy Today
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