Asset quality improved during the quarter ended September 2021, with gross non-performing assets as a percentage of gross advances falling 40 bps QoQ to 3.2 percent.
‘); $ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); //if(resData[stkKey][‘percentchange’] > 0){ // $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); // $ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); //}else if(resData[stkKey][‘percentchange’] = 0){ $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); //$ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); $ (‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”); }else if(resData[stkKey][‘percentchange’] 0) { var resStr=”; var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) { $ (‘#backInner1_rhsPop’).html(data); $ .ajax({url:url, type:”POST”, dataType:”json”, data:{q_f:typparam1,wSec:secglbVar,wArray:lastRsrs}, success:function(d) { if(typparam1==’1′) // rhs { var appndStr=”; var newappndStr = makeMiddleRDivNew(d); appndStr = newappndStr[0]; var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); glbbid=v.id; } }); } }); } else { AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function commonPopRHS(e) { /*var t = ($ (window).height() – $ (“#” + e).height()) / 2 + $ (window).scrollTop(); var n = ($ (window).width() – $ (“#” + e).width()) / 2 + $ (window).scrollLeft(); $ (“#” + e).css({ position: “absolute”, top: t, left: n }); $ (“#lightbox_cb,#” + e).fadeIn(300); $ (“#lightbox_cb”).remove(); $ (“body”).append(”); $ (“#lightbox_cb”).css({ filter: “alpha(opacity=80)” }).fadeIn()*/ $ (“#myframe”).attr(‘src’,’https://accounts.moneycontrol.com/mclogin/?d=2′); $ (“#LoginModal”).modal(); } function overlay(n) { document.getElementById(‘back’).style.width = document.body.clientWidth + “px”; document.getElementById(‘back’).style.height = document.body.clientHeight +”px”; document.getElementById(‘back’).style.display = ‘block’; jQuery.fn.center = function () { this.css(“position”,”absolute”); var topPos = ($ (window).height() – this.height() ) / 2; this.css(“top”, -topPos).show().animate({‘top’:topPos},300); this.css(“left”, ( $ (window).width() – this.width() ) / 2); return this; } setTimeout(function(){$ (‘#backInner’+n).center()},100); } function closeoverlay(n){ document.getElementById(‘back’).style.display = ‘none’; document.getElementById(‘backInner’+n).style.display = ‘none’; } stk_str=”; stk.forEach(function (stkData,index){ if(index==0){ stk_str+=stkData.stockId.trim(); }else{ stk_str+=’,’+stkData.stockId.trim(); } }); $ .get(‘//www.moneycontrol.com/techmvc/mc_apis/stock_details/?sc_id=’+stk_str, function(data) { stk.forEach(function (stkData,index){ $ (‘#stock-name-‘+stkData.stockId.trim()+’-‘+article_id).text(data[stkData.stockId.trim()][‘nse’][‘shortname’]); }); });
Private sector lender Kotak Mahindra Bank on October 26 reported a 7 percent year-on-year decline in standalone profit at Rs 2,032 crore for the September 2021 quarter due to higher provisions. But supported by higher other income, the profit was ahead of analysts’ estimates. However, net income sequentially grew by 24 percent on sharp decline in bad loan provisions.
Standalone net interest income in Q2FY22 rose 3.2 percent year-on-year to Rs 4,020.6 crore – meeting street expectations – with healthy 15 percent YoY (8 percent QoQ) loan growth. Net interest margin contracted 5 bps year-on-year and 15 bps sequentially to 4.45 percent in Q2.
“Advances during the quarter increased by 14.7 percent to Rs 2,34,965 crore, and deposits grew by 11.5 percent to Rs 2,91,711 crore compared to year-ago period,” said the bank in its BSE filing on Tuesday.
Profit was estimated at Rs 1,792.2 crore and net interest income was expected at Rs 4,008.1 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.
Asset quality improved during the quarter ended September 2021 with gross non-performing assets as a percentage of gross advances falling 40 bps QoQ to 3.2 percent and the net NPA declined 20 bps to 1.1 percent on sequential basis. 10 basis points is 0.01 percent.
Provisions and contingencies declined sharply by 40 percent sequentially to Rs 424 crore in September 2021 quarter, but the same increased by 27.3 percent year-on-year which resulted into a drag in profitability.
Kotak Mahindra Bank said Covid related provisions as of September 2021 were maintained at Rs 1,279 crore and did not utilise in the first half of FY22. “The bank has implemented total restructuring of Rs 495 crore (0.21 percent of advances), and in addition, the bank has implemented total restructuring of Rs 767 crore (0.33 percent of advances) as on September 30, 2021.”
“Total provisions (including specific, standard, COVID-19 related etc.) held as on September 2021 at Rs 7,637 crore, around 100 percent of gross NPA,” the bank said.
The bank further said SMA-II (special mention account) outstanding at the end of September 2021 quarter was at Rs 388 crore, down compared to Rs 430 crore as of June quarter.
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Non-interest income (other income) grew significantly to Rs 1,812.6 crore in the quarter ended September 2021 driven by fee and services business, up from Rs 1,432.4 crore in corresponding quarter of last fiscal. Fee and services included distribution & syndication income, and general banking fees.
On consolidated basis, the profit growth was significant, rising 65.5 percent year-on-year to Rs 2,989 crore and the year-on-year growth was 1.4 percent.
Subsidiaries – Kotak Securities recorded 22.1 percent year-on-year growth in profit at Rs 243 crore and Kotak Mahindra Prime clocked 80.5 percent growth in profit at Rs 240 crore in the quarter ended September 2021.
Kotak Asset Management and Trustee Company’s bottomline grew by 15.5 percent year-on-year to Rs 97 crore and Kotak Mahindra Capital Company registered a massive 314.3 percent growth YoY at Rs 58 crore, but Kotak Mahindra Life Insurance’s profit declined 9.4 percent YoY to Rs 155 crore during the quarter.
The bank said consolidated customer assets grew by 16 percent year-on-year to Rs 287,831 crore as of September 2021. “Total assets managed / advised by the Group as of September 2021 were Rs 3,81,058 crore, up 40 percent over the corresponding period last fiscal.”
The stock reacted positively to the numbers, trading with 2.39 percent gains at Rs 2,208.70 on the BSE, at 13:58 hours IST.
