Kotak Mahindra Bank Q3 revenue rises 31% to Rs 3,403 crore | Companies News


New Delhi: Kotak Mahindra Bank on Friday mentioned its consolidated web revenue rose 31 per cent to Rs 3,403 crore throughout the third quarter of the present monetary 12 months from Rs 2,602 crore recorded within the corresponding quarter of the earlier 12 months.

The financial institution`s standalone revenue elevated by 15 per cent to Rs 2,131 crore within the October-December 2021 interval from Rs 1,854 crore recorded in the identical interval of the earlier 12 months. During the second quarter of the present monetary 12 months the financial institution`s standalone revenue stood at Rs 2,032 crore.

During the third quarter of the present monetary 12 months, the online contribution of non-bank entities of the corporate was 37 per cent of the consolidated revenue after tax.

The financial institution`s web curiosity earnings (NII) for the third quarter of 2021-22 elevated to Rs 4,334 crore, from Rs 3,876 crore within the corresponding quarter of 2020-21, posting a year-on-year enhance of 12 per cent. Net curiosity margin (NIM) for the third quarter of the present monetary 12 months stood at 4.62 per cent.

The financial institution`s web whole earnings for the third quarter of the present monetary 12 months stood at Rs 5,698 crore, up 10 per cent from Rs 5,166 crore recorded in Q3 of 2020-21.

As on December 31, 2021, COVID-related provisions of the financial institution stood at Rs 1,000 crore. In accordance with COVID and MSME Resolution Frameworks introduced by RBI, the Bank has customary restructured fund-based excellent of Rs 1,364 core (0.54 per cent of advances) as on December 31, 2021, Kotak Mahindra Bank mentioned in a press release. Also Read: SBI Big Update: IMPS expenses to vary from subsequent month; verify new fee

The financial institution`s gross non-performing belongings (GNPA) stood at 2.71 per cent and web non-performing belongings (NNPA) at 0.79 per cent as on thirty first December 2021. Also Read: Union Budget 2022: As salaried class demand hike in ITR bracket, verify 5 main sources of earnings which are tax free in India

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