Photo Caption (L to R): Jaimin Bhatt, President & Group CFO and Dipak Gupta, Jt MD, Kotak Mahindra Bank announce the Bank's Q2FY16-17 results.
KOTAK MAHINDRA BANK ANNOUNCES RESULTS
Bank PAT for Q2FY17 Rs. 813 cr up 43%
Consolidated PAT for Q2FY17 Rs. 1,202 cr up 28%
Mumbai, October 25, 2016: The Board of Directors of Kotak Mahindra Bank (‘Kotak Bank’) took on record the unaudited standalone and consolidated results for Q2FY17, at the board meeting held in Mumbai, today.
Kotak Mahindra Bank standalone results
Bank PAT for Q2FY17 increased to Rs. 813 cr from Rs. 570 cr in Q2FY16, up by 43%
Net Interest Income (NII) for Q2FY17 up 19% to Rs. 1,995 cr from Rs. 1,679 cr in Q2FY16
Net Interest Margin (NIM) for Q2FY17 at 4.47% up from 4.30% in Q2FY16
Advances as on September 30, 2016 were up 13% YoY to Rs. 126,015 cr (Rs. 111,662 cr as on September 30, 2015)
Average Savings deposits for Q2FY17 grew by 35% to Rs. 30,678 cr from Rs. 22,748 cr in Q2FY16. Average Current Account deposits for Q2FY17 grew by 28% to Rs. 19,273 cr from Rs. 15,115 cr in Q2FY16. CASA as on September 30, 2016 stood at 39.0%. TD Sweep deposits as on September 30, 2016 were 6.4% of the total deposits.
Capital adequacy ratio of the Bank including unaudited profits as per Basel III as on September 30, 2016 is 16.8% and Tier I ratio is 15.7%
As on September 30, 2016, the Bank has a network of 1,336 full-fledged branches spread across 702 locations and 2,044 ATMs affording it the capacity and means to serve its customers through its wide presence.
As on September 30, 2016, the branch footprint was as under
Zone
| |
West
|
31%
|
North
|
29%
|
South
|
34%
|
East
|
6%
|
Total
|
1,336
|
As on September 30, 2016, GNPA was 2.49% & NNPA was 1.20%. As on September 30, 2016, restructured loans considered standard were down to Rs. 147 cr i.e. 0.12% of net advances as against Rs. 160 cr i.e. 0.13% of net advances as on June 30, 2016. As on September 30, 2016, SMA2 outstanding was Rs. 419 cr (0.33% of net advances).
Digital Update
Digital remains an area of focus for the Group. Bank and other subsidiaries like Securities, Life Insurance and Mutual Fund are gaining significant traction and market share. Monthly transactions for the Bank on Mobile platform have crossed Rs. 3,500 cr in September 16. The share of Recurring Deposits sourced digitally was >60% and that of Term Deposits was >50%. On a YoY basis, mobile transactions have grown 118% in terms of volume and 95% in terms of value. Payment Gateway transactions have grown 79% on a YoY basis and the Payment Gateway transactions from mobiles now constitute >40% of transactions.
Kotak Securities mobile transaction volumes crossed over Rs. 8,000 cr per month. Brokerage Contribution of Kotak Stock Trader app crossed 11% of total brokerage. 30% of sales of Kotak Life Insurance policies in Q2FY17 were through Genie - Tablet based end to end sales solution. 48% of switch requests serviced were serviced through the online customer portal of Kotak Life Insurance.
Consolidated results at a glance
Consolidated PAT for Q2FY17 increased to Rs. 1,202 cr from Rs. 942 cr in Q2FY16 up 28%
Consolidated advances up 14% to Rs. 154,078 cr as on September 30, 2016 from Rs. 134,669 cr as on September 30, 2015.
Consolidated NIM for Q2FY17 stood at 4.46% (Q2FY16 – 4.38%)
Consolidated capital adequacy ratio (CAR) including unaudited profits as per Basel III as on September 30, 2016 is 17.3%. Tier 1 ratio is 16.5%
Total assets managed / advised by the Group as on September 30, 2016 are Rs. 120,705 cr (Rs. 96,037 cr as on September 30, 2015)
Consolidated Networth as on September 30, 2016 was Rs. 35,690 cr (Rs. 31,333 cr as on September 30, 2015)
Other major subsidiaries profit after tax are as under:
Rs. Cr
|
Q2FY17
|
Q1FY17
|
Kotak Mahindra Prime
|
130
|
120
|
Kotak Mahindra Investments
|
53
|
40
|
Kotak Mahindra Old Mutual Life Insurance
|
63
|
71
|
Kotak Securities
|
96
|
60
|
On September 30, 2016, Kotak Mahindra Bank Ltd executed binding share purchase agreement to acquire 99.49% of equity shares of BSS Microfinance Private Limited (BSS), a Non- Banking Finance Company, classified as a NBFC-MFI, from existing shareholders subject to regulatory and other approvals, including Reserve Bank of India.