On 20th January 2024 Indias private sector leading bank Kotak Mahindra bank reported its quarter 3 profit that is Rs. 3005 crore for the quarter ended December 31, 2023. which is growing year on year 7.6% but falling shortfall to analysis expectation is for Rs. 3243 crore profit.
As per the Net interest income the interest earned and interest expended rose nearly 16% year on year to 6553 crore.
Provision and contigencies surged to Rs. 579 crore from Rs. 149 crore a year ago, pre provision operating profit increased 19% year on year on year to Rs. 4566.21 crore but declined nearly 1% sequentially.
The Gross non performing asset as a percentage of total loans was 1.73% as of December end, compared to 1.90% before a year ago, and 1.72% before a quarter ago.
The net non performing assets, which was 0.37% before a quarter ago, and 0.43% on the same period of last year which is now reduced to 0.34%.