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Jamie Dimon’s five-year retirement joke just got serious. The billionaire chief executive officer of JPMorgan Chase & Co. was granted a special gift to persuade him to lead the biggest U.S. lender for another “significant number of years.” He was awarded 1.5 million stock appreciation rights, which are like options and will let him capture a profit if the stock price rises in the coming years. At 65, Dimon is the only sitting bank CEO who led a major firm through the financial crisis. He took over JPMorgan in 2005, and built it into the biggest and most profitable bank in the country. ....
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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. ....