Kotak Mahindra Bank reported a 20 per cent year-on-year (y-o-y) increase in standalone third quarter net profit at ₹1,053 crore against ₹880 crore in the year-ago quarter.

Net interest income (difference between interest earned and interest expended) was up 17 per cent to ₹2,394 crore.

Other income (including fee and services and others) increased 14 per cent to ₹1,040 crore.

As on December-end 2017, total deposits increased 21 per cent y-o-y to ₹1,80,826 crore. The proportion of current account, savings account (CASA) deposits in total deposits showed good improvement, rising to 46.7 per cent from 42 per cent.

Total advances were up 23 per cent to ₹1,59,071 crore. The proportion of retail advances in total advances improved to 41 per cent (from 40 per cent in the year-ago quarter), with the balance being accounted for by corporate advances.

Net interest margin declined to 4.2 per cent from 4.5 per cent in the year-ago quarter.

Gross non-performing assets were a bit lower at 2.31 per cent of total advances against 2.42 per cent in the year-ago quarter.

Consolidated net up 28% The private sector bank’s consolidated net profit rose 28 per cent y-o-y to ₹1,624 crore (₹1,267 crore in the year-ago period).

In addition to the bank, major subsidiaries which contributed to the consolidated bottomline are: Kotak Mahindra Prime (₹148 crore), Kotak Securities (₹154 crore), Kotak Mahindra Life Insurance (₹97 crore) and Kotak Mahindra Investments (₹50 crore).

Consolidated advances were up 24 per cent to ₹1,95,652 crore (₹1,57,801 crore as at December-end 2016).

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