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The lender has a national footprint of 1,604 branches and 2,598 ATMs.
The lender has a national footprint of 1,604 branches and 2,598 ATMs.

Kotak Mahindra Bank Q4 PAT up 36 pc at Rs 2,589 crore

ANI | Updated: May 03, 2021 14:40 IST

Mumbai (Maharashtra) [India], May 3 (ANI): Private sector lender Kotak Mahindra Bank on Monday reported 36 per cent year-on-year hike in its consolitated profit after tax at Rs 2,589 crore for the March quarter from Rs 1,905 crore in Q4 FY20.
The sharp growth was due to flat provisioning. The loan loss provisioning in Q4 FY21 stood at Rs 1,215 crore, almost at par with the March 2020 quarter. PAT margins improved from 15.77 per cent to 16 per cent in the same period.
The bank reported flat 33.8 per cent growth in total consolidated revenues at Rs 16,176 crore in Q4 FY21 and 45 per cent growth in treasury income.

However, revenues from corporate banking, retail banking and even vehicle finance business were down. The bank reported good top line traction in broking and advisory but the three-fold growth in revenues came from life insurance at Rs 6,179 crore.
Total revenues were up 10.5 per cent on a sequential basis. The operating profits went up by 16 per cent at Rs 4,578 crore due to five-fold spike in insurance related costs.
Operating margins contracted from 32.6 per cent in Mar 2020 to 28.3 per cent in Q4 FY21. However, gross NPAs were sharply up around 100 basis points.
The CASA deposit ratio increased to 60.2 per cent. Net interest income for the quarter was up 7.9 per cent at Rs 3,843 crore.
As on March 31, the Group's consolidated capital and reserves and surplus stood at Rs 84,836 crore. (ANI)