Earlier today, there was a meeting held by the BOD’s of Kotak Mahindra bank in Mumbai an d have approved the unaudited standalone and consolidated results for Q1FY22.
The PAT’s of bank for Q1FY22 is increased to Rs.1,642 crore from Rs.1244 crore in Q1FY21, is also raised up by 32 percent.
Besides this, the Net Interest Income for Q1FY22 is increased to Rs.3,942 crore from Rs.3,724 crore in Q1FY21 raised up by 6 percent. The Net Interest Margin is at 4.60 percent in Q1FY22.
CASA ratio as on June 30,2021 was at 6.02 percent as compared to last year which was at 56.7 percent in June 2020 as per reports.
Amid this the current Average account deposits have raised up by 28 percent to Rs. 46,341 crore for Q1FY22 as compared to Rs.36,066 crore for Q1FY21. Also the average savings have raised by 10 percent. And the TDs have raised by 24 percent.
It is also noticed that the COVID related provisions were maintained by Rs.1279 crore in June 30,2021 in accordance to resolution framework and the MSME announced by RBI has implemented a total of restructuring Rs. 552 crore on June 30,2021.
As on June 30,2021 the GNPA was at 3.56percent and NNPA was at 1.28 percent, the credit cost on advances was 133bps for Q1FY22.
After the second wave of COVID-19 the Kotak Mahindra Bank and its Life insurance is receiving a significant number of death claims in Q1FY22.