The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the standalone and consolidated results for Q3FY23, at the Board meeting held in Mumbai, today.
The Bank’s PAT for Q3FY23 stood at ₹ 2,792 crore, up 31% from 2,131 crore in Q3 FY22. Net Interest Income (NII) increased to 5,653 crore, from 4,334 crore in last quarter, up 30% YoY. Customers as at December 31, 2022 were 39.0 mn (30.7 mn as at September 30, 2021). Customer Assets, which comprise Advances and Credit Substitutes, increased by 24% to $3,39,313 crore. Advances increased by over 23% to Rs 3,10,734 crore as at end of year 2022.
Credit cost on advances for Q3FY23 was 27 bps (annualised) (including standard provisioning; excluding reversal of COVID & restructuring). The Bank has standard restructured fund-based outstanding of ₹ 484 crore (0.16% of Advances). As at December 31, 2022, GNPA was 1.90% & NNPA was 0.43%. AUM (Policyholders’) of Kotak Mahindra Life Insurance as on December 31, 2022 grew 15% YoY to ₹ 56,643 crore. At the consolidated level, the Return on Assets (ROA) (annualized) was 2.76% for Q3FY23 (2.60% forQ3FY22). Consolidated Capital Adequacy Ratio as per Basel III was 23.2% and CET I ratio was 22.3%. (including unaudited profits).