Kotak Mahindra Bank Q2 profit, loan book rise 22%; asset quality improves
Asset quality improved nicely in the quarter ended September 2017 as gross non-performing assets (NPA) fell 11 basis points sequentially to 2.47 percent and net NPA slipped 42 basis points to 1.26 percent.
Moneycontrol News
Private sector lender Kotak Mahindra Bank's July-September quarter profit grew by 22.2 percent year-on-year to Rs 994.31 crore, backed by operating income, other income and NII.
Profit for the quarter ended September 2016 stood at Rs 813.29 crore.
Net interest income, the difference between interest earned and interest expended, increased 15.9 percent to Rs 2,312.66 crore compared with year-ago quarter.
Asset quality improved nicely in the quarter ended September 2017 as gross non-performing assets (NPA) fell 11 basis points sequentially to 2.47 percent and net NPA slipped 42 basis points to 1.26 percent.
Provisions for bad loans for the quarter stood at Rs 216.5 crore, higher by 6.3 percent quarter-on-quarter and 9.5 percent year-on-year.
At 13:12 hours IST, the stock price was quoting at Rs 1,024.10, down Rs 43.60, or 4.08 percent on the BSE.
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