Kotak Mahindra Bank
Kotak Mahindra Bank: Standalone NII for Q2FY22 rises 3 pc to Rs 4,021 cr; PAT jumps 24 pc to Rs 2,032 cr (YoY)
Kolkata/IBNS: The Board of Directors of Kotak Mahindra Bank has approved the unaudited standalone and consolidated results for Q2FY22, at the Board meeting.
On standalone basis, Net Interest Income (NII) for Q2FY22 increased to Rs. 4,021 crore, from Rs. 3,897 crore in Q2FY21, up 3 percent. Net Interest Margin (NIM) for Q2FY22 was at 4.45 percent.
Net Total Income for Q2FY22 was Rs 5,833 crore, up 9 percent from Rs. 5,330 crore in Q2FY21. Operating profit for Q2FY22 was Rs. 3,120 crore, from Rs. 3,262 crore in Q2FY21.
The bank’s PAT or net profit for Q2FY22 increased to Rs. 2,032 crore, up 24 percent from Rs. 1,642 crore for Q1FY22 (Rs. 2,184 crore for Q2FY21).
Customer Assets, which includes Advances and Credit substitutes, increased by 17 percent to Rs. 256,353 crore as at September 30, 2021 from Rs. 218,790 crore as at September 30, 2020 (Rs. 235,358 crore as at June 30, 2021).
Advances increased by 15 percent to Rs. 234,965 crore as at September 30, 2021 from Rs. 204,845 crore as at September 30, 2020 (Rs. 217,465 crore as at June 30, 2021).
CASA ratio as on September 30, 2021 stood at 60.6 percent compared to 57.1 percent as at September 30, 2020.
Current Account deposits grew by 32 percent to Rs. 53,280 crore as at September 30, 2021 from Rs. 40,454 crore as at September 30, 2020.
Savings deposits grew by 13 percent to Rs. 123,479 crore as at September 30, 2021 from Rs. 108,990 crore as at September 30, 2020.
TD Sweep grew by 20 percent to Rs. 24,151 crore as at September 30, 2021 from Rs. 20,184 crore as at September 30, 2020.
TD Sweep deposits as at September 30, 2021 were 8.3 percent of total deposits (7.7 percent as at September 30, 2020).
COVID related provisions as at September 30, 2021 were maintained at Rs. 1,279 crore.
In accordance with the Resolution Framework for COVID-19 related stress of Individuals and Small Businesses, announced by RBI, the Bank has implemented total restructuring of Rs. 495 crore (0.21 percent of Advances) as at September 30, 2021.
In addition, in accordance with the Resolution Framework for COVID-19 related stress of MSMEs, announced by RBI, the Bank has implemented total restructuring of Rs. 767 crore (0.33 percent of Advances) as at September 30, 2021.
As at September 30, 2021, GNPA was 3.19 percent & NNPA was 1.06 percent. Credit cost on advances was 63 bps (annualized) for Q2FY22 (133 bps for Q1FY22).
Capital adequacy ratio of the Bank as per Basel III as at September 30, 2021 was 21.8 percent and Tier I ratio was 20.8 percent.
Consolidated PAT for Q2FY22 was Rs. 2,989 crore, up 65 percent from Rs. 1,806 crore for Q1FY22 (Rs. 2,947 crore for Q2FY21).
For Q2FY22, the Bank’s contribution to the consolidated PAT was Rs. 2,032 crore. The subsidiaries & associates net contribution was 32 percent of the consolidated PAT
Profit after tax (PAT) for Kotak Securities stood at Rs 243 crore for Q2FY22 against Rs 199 crore in the year-ago period.
Kotak Mahindra Prime reported PAT of Rs 240 crore in the quarter ended September 30, 2021 while in the same quarter last year the PAT was Rs 133 crore.
Kotak Mahindra Life Insurance's PAT in the second quarter of FY22 has declined to Rs 155 crore from Rs 171 crore in the same quarter last year.
Kotak Asset Management & Trustee Company recorded a PAT of Rs 97 crore while the PAT in Q2FY21 was Rs 84 crore.
Kotak Mahindra Investments reported a PAT of Rs 89 crore while it was Rs 74 crore in the same quarter last year.
The PAT for Kotak Mahindra Capital Company in Q2FY22 is Rs 58 crore while this was Rs 14 crore in the year-ago period.
Consolidated Capital and Reserves & Surplus as at September 30, 2021 was Rs. 89,627 crore (Rs. 79,389 crore as at September 30, 2020). The Book Value per Share was Rs. 449.
Consolidated Customer Assets grew by 16 percent from Rs. 247,432 crore as at September 30, 2020 to Rs. 287,831 crore as at September 30, 2021.
Total assets managed / advised by the Group as at September 30, 2021 were Rs. 381,058 crore up 40 percent over Rs 271,769 crore as at September 30, 2020.
The Relationship Value of the customers of Wealth, Priority Banking and Investment Advisory was approximately Rs 4,63,000 crore as at September 30, 2021 up 54 percent from approximately Rs 3,00,000 crore as at September 30, 2020.
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