Kotak Mahindra Bank Q3 Review - Business Growth Robust; Margins Continue To Scale New Highs: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.Kotak Mahindra Bank Ltd. reported strong earnings in Q3 FY23. Standalone profit after tax rose 31% YoY to Rs 27.9 billion (5% beat), driven by healthy net interest income and controlled provisions as pre provision operating profit grew 43% YoY. Consolidated profit after tax grew 17% YoY to Rs 40.0 billion. Loan growth remained strong, with margin further expanding by 30 bps QoQ to 5.47%. The current account and savings account ratio, though, moderated 290 bps QoQ to 53.3%. Gross slippages moderated to Rs 7.5 billion, of which Rs 1.7 billion were upgraded in Q3 FY23. Healthy recoveries and upgrades led to an 18bp/12bp QoQ decline in the gross non-performing asset/net non performing asset ratios. Kotak Mahindra Bank reversed Rs 376 million of Covid-related provisions; outstanding Covid-related provisions now stand at Rs 4.0 billion (13 bps of loans)..Click on the attachment to read the full report:.Kotak Mahindra Bank Q3 Results: Net Profit Up 31% As Core Income Grows, NIM Improves.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Kotak Mahindra Bank Q3 Review - Business Growth Robust; Margins Continue To Scale New Highs: Motilal Oswal

Kotak Mahindra Bank reported strong earnings in Q3 FY23.

Choose a plan