Financial Daily from THE HINDU group of publications
Friday, Jan 20, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 20, 2006 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks Kotak Mahindra Bank posts 71 per cent rise in Q3 net Our Bureau
Mumbai , Jan 19 KOTAK Mahindra Bank recorded net profit of Rs 32.64 crore for the quarter ended December 2005, up 71 per cent to from Rs 19.1 crore in the corresponding previous period. The rise was due to an increase in advances and other income. Mr Dipak Gupta, Executive Director, said that the bank has seen all-round growth. "SME lending, retail lending, treasury income, and income from distribution have all grown." Total income for the quarter was Rs 230.92 crore (Rs 143.31 crore). Net interest income was Rs 91.3 crore (Rs 57.5 crore). Other income increased to Rs 48.72 crore (Rs 30.35 crore). Total expenditure increased to Rs 185.29 crore (Rs 114.43 crore). The capital adequacy ratio was 11.05 per cent (13.73 per cent).The proportion of net NPAs to total assets was 0.4 per cent and that of gross NPAs was 0.8 per cent.
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