Kotak Mahindra Bank, one of the leading private sector lenders, has reported a rise of 28.12% in standalone net profit on year-on-year basis to Rs 5.69 billion for the quarter ended Sept. 30, 2015. The banks standalone total income has increased 63.94% to Rs 46.21 billion for the quarter ended Sept. 30, 2015 as compared to Rs 28.18 billion in the same period last year.
Advances as on Sept. 30, 2015 were Rs 1,116.62 billion. Deposits as on Sept. 30, 2015 were Rs 1,232.11 billion. Savings deposits as on Sept. 30, 2015 grew to Rs 243.35 billion. CASA ratio stood at 36%.
The capital adequacy ratio of the bank including unaudited profits as per basel III as on Sept. 30, 2015 is 16.1% and Tier I ratio is 14.9%.
Net interest income (NII) for Q2FY16 was Rs 16.79 billion. Net interest margin (NIM) for Q2FY16 stood at 4.3%
On consolidated basis, the company has reported a rise of 31.20% in consolidated net profit on year-on-year basis to Rs 9.41 billion for the quarter ended Sept. 30, 2015. Consolidated total income has increased 36.76% to Rs 67.29 billion for the quarter ended Sept. 30, 2015 as compared to Rs 49.20 billion in the same period last year.
The consolidated NIM for Q2FY16 stood at 4.4%. Consolidated capital adequacy ratio including unaudited profits as per Basel III as on Sept. 30, 2015 is 16.5% and Tier 1 ratio is 15.5%.
Uday Kotak, executive vice chairman & managing director, Kotak Mahindra Bank said, ''Integration process is progressing as planned and we are seeing positive traction in SA growth, retail loans and insurance distribution. Various initiatives have been kicked off for cost and income synergies which will start showing results in due course. With our wider national footprint and the breadth of product & service offerings, we are well poised to capitalize on the opportunity offered by the country which is on track for a sustainable growth story.''
Shares of the bank gained Rs 20.90, or 3.15%, to trade at Rs 687.25. The total volume of shares traded was 238,582 at the BSE (1.17 p.m., Friday).
