According to Motilal Oswal Financial Services, asset quality was expected to improve to 1.63 percent and Net NPA at 0.34 percent but the reported numbers missed expectations.
Kotak Bank FY21 net profit rises 17% to Rs 6,965 crore
The bank s net interest margin contracted 21 basis points to 4.41 per cent in FY21 from 4.62 per cent in FY20, while CASA ratio improved to 60.4 per cent.
Rai Vinaykumar | May 3, 2021 | Updated 15:11 IST
For January-March quarter, the bank s standalone net profit grew 33 per cent to Rs 1,682 crore.
Kotak Mahindra Bank on Monday reported 17 per cent year-on-year increase in its standalone net profit at Rs 6,965 crore for fiscal year 2020-21, while its net interest income (NII) grew 14 per cent to Rs 15,340 crore.
The bank s net interest margin contracted 21 basis points to 4.41 per cent in FY21 from 4.62 per cent in FY20, while current accounts and savings account (CASA) ratio improved to 60.4 per cent from 56.2 per cent a year ago. On a consolidated basis, Kotak Bank s net profit rose 16 per cent to Rs 9,990 crore in FY21.