Financial Daily from THE HINDU group of publications
Tuesday, Jan 25, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 25, 2005 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks Kotak Mahindra Bank net at Rs 19 cr Our Bureau
Mumbai , Jan. 24 KOTAK Mahindra Bank has recorded a net profit of Rs 19.10 crore for the third quarter ended December 31, 2004, against Rs 18.95 crore in the previous year. Bank officials ascribed the flat growth in the bank's net profit to lower earnings in treasury operations. During the third quarter, treasury operations recorded a net loss of Rs 3.60 crore against profits to the tune of Rs 1.56 crore in the year-ago period. However, the retail-lending segment's profit before tax grew by 19 per cent to Rs 18.40 crore (Rs. 15.46 crore).
Total advances of the bank surged by 68 per cent on a year-on-year basis to Rs 3,095 crore as on December 31, 2004, with retail loans comprising 82 per cent of the portfolio. Advances towards commercial vehicles crossed Rs 1,500 crore. Capital adequacy as on December 31, 2004 was 13.73 per cent.
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