Kotak Mahindra Bank Consolidated PAT for Q2FY25 ₹ 5,044 crore, up 13% YoY Standalone PAT for Q2FY25 ₹ 3,344 crore, up 5% YoY
Bengaluru, 21st October, 2024: The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2024, at the Board meeting held in Mumbai, today
Consolidated results at a glance
Consolidated PAT for Q2FY25 was ₹ 5,044 crore, up 13% YoY from ₹ 4,461 crore in Q2FY24. PAT of Bank and key subsidiaries given below:
PAT (₹ crore) | Q2FY25 | Q2FY24 |
Kotak Mahindra Bank | 3,344 | 3,191 |
Kotak Securities | 444 | 324 |
Kotak Mahindra Life Insurance | 360 | 247 |
Kotak Mahindra Prime | 269 | 208 |
Kotak Asset Management &
Trustee Company |
197 | 124 |
Kotak Mahindra Investments | 141 | 126 |
Kotak Mahindra Capital Company | 90 | 27 |
BSS Microfinance | 16 | 108 |
At the consolidated level, Return on Assets (ROA) for Q2FY25 (annualized) was 2.53% (2.68% for Q2FY24). Return on Equity (ROE) for Q2FY25 (annualized) was 13.88% (14.99% for Q2FY24).
Consolidated Capital Adequacy Ratio as per Basel III as at September 30, 2024 was 22.6% and CET I ratio was 21.7% (including unaudited profits).
Consolidated Networth as at September 30, 2024 was ₹ 147,214 crore (including increase in reserves due to RBI’s Master Direction on Bank’s investment valuation of ₹ 4,777 crore and gain on KGI divestment of ₹ 2,730 crore). The Book Value per Share at September 30, 2024 was ₹ 740 (₹ 605 at September 30, 2023).
Consolidated Customer Assets which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes grew to
₹ 510,598 crore as at September 30, 2024 from ₹ 428,404 crore as at September 30, 2023, up 19% YoY.
Total Assets Under Management as at September 30, 2024 were ₹ 680,838 crore up 37% YoY over ₹ 498,342 crore as at September 30, 2023.
Kotak Asset Management, the 5th largest AMC saw its Domestic MF Equity AUM increase by 60% YoY to ₹ 319,161 crore as at September 30, 2024.
Kotak Mahindra Bank standalone results
The Bank’s PAT for Q2FY25 stood at ₹ 3,344 crore, up 5% YoY from ₹ 3,191 crore in Q2FY24.
Net Interest Income (NII) for Q2FY25 increased to ₹ 7,020 crore, from ₹ 6,297 crore in Q2FY24, up 11% YoY. Net Interest Margin (NIM) was 4.91% for Q2FY25.
Fees and services for Q2FY25 increased to ₹ 2,312 crore from ₹ 2,026 crore in Q2FY24, up 14% YoY. Operating profit for Q2FY25 increased to ₹ 5,099 crore from ₹ 4,610 crore in Q2FY24, up 11% YoY. Customers as on September 30, 2024 were 5.2 cr (4.6 cr as on September 30, 2023).
Customer Assets, which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes, increased by 18% YoY to
₹ 450,064 crore as at September 30, 2024 from ₹ 380,412 crore as at September 30, 2023. Advances (incl. IBPC & BRDS) increased 17% YoY to ₹ 419,108 crore as at September 30, 2024 from ₹ 357,012 crore as at September 30, 2023.
Unsecured retail advances (incl. retail microcredit) as a % of net advances stood at 11.3% as at September 30, 2024.
Average Total Deposits grew to ₹ 446,110 crore for Q2FY25 compared to ₹ 385,950 crore for Q2FY24 up 16% YoY. Average Current Deposits grew to ₹ 61,853 crore for Q2FY25 compared to ₹ 58,351 crore for Q2FY24 up 6% YoY. Average Savings Deposits grew to ₹ 124,823 crore for Q2FY25 compared to ₹ 121,967 crore for Q2FY24 up 2% YoY. Average Term Deposits grew to ₹ 259,434 crore for Q2FY25 compared to ₹ 205,632 crore for Q2FY24 up 26% YoY.
CASA ratio as at September 30, 2024 stood at 43.6% (June 30, 2024 at 43.4%) TD sweep balance grew 41% YoY to ₹ 52,411 crore.
As at September 30, 2024, GNPA was 1.49% & NNPA was 0.43% (GNPA was 1.72% & NNPA was 0.37% at September 30, 2023).
Capital Adequacy Ratio of the Bank, as per Basel III, as at September 30, 2024 was 22.6% and CET1 ratio of 21.5% (including unaudited profits).
Standalone Return on Assets (ROA) for Q2FY25 (annualized) was 2.17% (2.45% for Q2FY24).