/ Kotak Mahindra Bank Ltd's Q3FY17 Standalone Net Profit Rises 38.6% Yoy To Rs.880 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 25 January 2017

Kotak Mahindra Bank reported its Q3FY17 results earlier today. It is the fourth largest Indian private bank in terms of market capitalization. The banks results registered a beat on the street’s estimates. NII for the quarter came in 1.7% higher than the estimated figure of Rs. 2016 crore. Net profit came in 8.9% above the estimated figure of Rs. 808 crore.

Kotak Mahindra Bank’s Q3FY17 standalone NII for the period came in at Rs. 2050 crore showing a 16.1% yoy growth. This was aided by growth in loan book and expansion in the banks NIM. The loan book outstanding grew by 12.1% yoy to Rs. 129261 crore and NIM for Q3FY17 was 4.5% versus 4.3% in Q3FY16.

Gross NPA’s for the period recorded a 18.1% yoy jump to Rs. 3178 crore. Asset quality measured in terms of gross NPA as a percentage of gross advances worsened slightly to 2.4% as against 2.3% in Q3FY16.

Provisions for bad loans made during the quarter decreased 18.3% yoy to Rs. 192 crore. The lower provisioning aided in a net profit increase of 38.6% yoy to Rs. 880 crore. The banks CASA ratio improved to 42% in Q3FY17 versus 35.3% in the corresponding period last fiscal. And, it’s capital adequacy ratio (CAR) according to Basel-III norms stood at 17.6% in Q3FY17 versus 16.2% in Q3FY16.

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