Kotak Bank at new high
By
Ruma Dubey
about 8 years ago
Kotak Mahindra Bank hit a new high today at Rs.1019.40 on the back of its good and stable performance for Q1FY18.
Though its net profit at Rs.913 crore, up 23% (YoY) missed most estimates by analysts, the market was more happy with the fact that its asset quality remained stable.
Gross NPA was at 2.58% v/s 2.59% (QoQ0 while Net NPA was at 1.25% v/s 1.26%. And this, under the current circumstances is a very good number.
Out of the “dirty dozen” the Bank has exposure to four to the tune of Rs.236 crore– all inherited from ING Vysya which was merged with Kotak in 2015.
Its NII rose 17% (YoY) to Rs.2246 crore while NIM came in at 4.5% v/s 4.4% (YoY) and 4.6% (QoQ). CASA ratio rose to 43.9% from 37.4%.