Kotak Mahindra Bank Ltd Share Price

Q1FY23 Quarterly Result Announced for Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank Announced Q1FY23 Result :

• Kotak Mahindra Bank Consolidated PAT for Q1FY23 Rs 2,755 crore, up 53 % YoY
• Standalone PAT for Q1FY23 Rs 2,071 crore, up 26 % YoY
• Consolidated PAT for Q1FY23 was Rs 2,755 crore, up 53% from Rs1,806 crore in Q1FY22 (Rs 3,892 crore for Q4FY22).
• AUM (Policyholders’) of Kotak Mahindra Life Insurance as on June 30, 2022 grew 15% YoY to Rs 51,082 crore.
• At the consolidated level, the Return on Assets (ROA) (annualized) was 2.04% for Q1FY23 (1.49% for Q1FY22).
• Consolidated Capital adequacy ratio as per Basel III as at June 30, 2022 was 23.3% and CET I ratio was 22.4%. (excluding unaudited profits)
• Consolidated Capital and Reserves & Surplus as at June 30, 2022 was Rs 1,00,078 crore ( Rs 86,768 crore as at June 30, 2021). The Book Value per Share was Rs 502 .
• Consolidated Customer Assets grew by 28% from Rs 2,63,995 crore as at June 30, 2021 to Rs 337,112 crore as at June 30, 2022.
• Total assets managed / advised by the Group as at June 30, 2022 were Rs 378,283 crore up 10% over Rs 343,708 crore as at June 30, 2021.
• The Relationship Value of the customers of Private Banking, Priority Banking and Investment Advisory was  Rs 5,01,000 crore as at June 30, 2022 up 24% from Rs 404,000 crore as at June 30, 2021.
• Kotak Mahindra Bank standalone results
  • The Bank’s PAT for Q1FY23 stood at Rs 2,071 crore, up 26% from Rs1,642 crore in Q1FY22.
  • Net Interest Income (NII) for Q1FY23 increased to Rs 4,697 crore, from Rs 3,942 crore in Q1FY22, up 19%. Net Interest Margin (NIM) was 4.92% for Q1FY23.
  • Fees and services for Q1FY23 was Rs 1,656 crore, up 42% YoY.
  • Operating profit for Q1FY23 was Rs 2,783 crore (Q1FY22:Rs 2,890 crore)
  • Customers as at June 30, 2022 were 34.5 mn (26.8 mn as at June 30, 2021)
  • Customer Assets, which includes Advances and Credit substitutes, increased by 29% to Rs 303,629 crore as at June 30, 2022 from Rs 2,35,340 crore as at June 30, 2021 (Rs 292,481 crore as at March 31, 2022). Advances increased by 29% to Rs 280,171 crore as at June 30, 2022 from Rs 217,447 crore as at June 30, 2021 (Rs 2,71,254 crore as at March 31, 2022).
  • Average Fixed Rate Savings deposits was Rs 114,237 crore as at June 30, 2022 up 8% (June 30, 2021 Rs105,724 crore). Average Term deposit up 16% from Rs 112,406 crore for Q1FY22 to Rs 130,035 crore for Q1FY23.
  • As at June 30, 2022, COVID related provisions stood at Rs 482 crore. In accordance with COVID Resolution Framework announced by RBI, the Bank has standard restructured fund-based outstanding of Rs 379 crore (0.14% of Advances). Under the MSME Resolution Framework, the Bank has standard restructured fund-based outstanding of Rs 697 crore (0.25% of Advances) as at June 30, 2022.
  • As at June 30, 2022, GNPA was 2.24% & NNPA was 0.62%. Credit cost on advances for Q1FY23 was 16 bps (annualised) (excluding COVID & restructuring provision/reversal). The provision coverage ratio stood at 72.6%
  • Capital adequacy ratio of the Bank, as per Basel III, as at June 30, 2022 was 22.1% and CET I ratio of 21.0% (excluding unaudited profits)

Result PDF