started · updated
Kotak Mahindra Bank Q2 profit rises 29% to ₹4,212 crore
Kotak Mahindra Bank reported a 29% year-on-year increase in standalone net profit for the July-September quarter, reaching ₹4,212 crore. The bank’s performance was driven by a 25% rise in net advances and a 16% growth in net interest income, which totaled ₹8,459 crore.
Asset quality showed improvement as gross non-performing assets (NPAs) fell to 1.04% from 1.18% in the previous quarter. Credit costs also declined to 35 basis points from 46 basis points, a trend management attributed to tighter underwriting and stronger collections.
Despite the profit growth, the bank’s net interest margin declined to 4.31% from 4.54% a year earlier. This compression was largely attributed to the inflow of ₹55,344 crore in Foreign Currency Non-Resident (Bank) deposits under a special Reserve Bank of India swap window, which management described as a “one-off opportunity.”
This marks the final quarterly report presented by MD and CEO Ashok Vaswani before Anup Saha assumes the role on January 1, 2027.
Entities
Anup Saha · Ashok Vaswani · Kotak Mahindra Bank · Reserve Bank of India
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Anup Saha will take over as CEO on January 1, 2027. bfsi.eletsonline.com
- [● 2 SOURCES] The bank raised ₹55,344 crore through FCNR(B) deposits. bfsi.eletsonline.com · businessconnectindia.in
- [● 2 SOURCES] Kotak Mahindra Bank standalone net profit rose 29% year-on-year to ₹4,212 crore in the July-September quarter. bfsi.eletsonline.com · businessconnectindia.in
- [● 2 SOURCES] Gross NPAs fell to 1.04% from 1.18% in the previous quarter. bfsi.eletsonline.com · businessconnectindia.in
- [● 3 SOURCES] Net advances grew 25% year-on-year. bfsi.eletsonline.com · businessconnectindia.in · businessam.be
- [● 3 SOURCES] Net interest margin declined to 4.31%. bfsi.eletsonline.com · businessconnectindia.in · businessam.be
- [● 2 SOURCES] Net interest income grew approximately 16% to ₹8,459 crore. bfsi.eletsonline.com · businessconnectindia.in