Q3FY17 Results : Kotak Mahindra Bank

Kotak Mahindra Bank reported a good set of Q3FY17 results earlier today. It is one of the leading private banks and the results came in exceeding analysts' expectations due to strong performance at the net profit level.

Kotak Mahindra Bank’s Q3FY17 advances grew 12.1 per cent YoY to Rs 1,29,261 crore and NIM for Q3FY17 was healthy at 4.5 per cent resulting in an NII growth of 16.1 per cent to Rs 2050.3 crore. The 18.3 per cent decrease in provisions made during the current quarter also helped in a net profit increase of 38.6 per cent YoY to Rs 879.8 crore.

The bank's CASA ratio improved to 42 per cent and its capital adequacy ratio (CAR) (Basel-III) stood at 17.6 per cent in Q3FY17, as against 16.2 per cent in Q3FY16.

The stock opened for trading today at Rs 745 and at the time of reporting had risen to Rs 787.8 on the BSE. The stock is currently trading near its day’s high.

Kotak Mahindra Bank Ltd is an Indian commercial bank which offers personal finance solutions ranging from savings accounts to credit cards, distribution of mutual funds to life insurance products. The bank offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans. The bank is also into wealth management. It has over 321 branches and 1335 ATMs.