Kotak Mahindra Bank reports 15% rise in Q3 net profit, asset quality improves

A man walks past the Kotak Mahindra Bank branch in New Delhi, India, (REUTERS) — A man walks past the Kotak Mahindra Bank branch in New Delhi, India, **(REUTERS)**

1 min read . Updated: 28 Jan 2022, 01:20 PM IST Livemint

Shares of Kotak Mahindra Bank were trading over 1% higher at ₹1,916 apiece in Friday's afternoon deals

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Private lender Kotak Mahindra Bank has witnessed a 15% rise in its standalone net profit for the quarter ending December 2021 at ₹2,131 crore from ₹1,853 crore in the same quarter last year. Shares of Kotak Bank were trading over 1% higher at ₹1,916 apiece on the BSE in Friday's afternoon deals.

Net interest income (NII) surged 11.8% to ₹4,334 crore as compared to ₹3,876 crore in the same quarter last year. Its net interest margin (NIM) for Q3FY22 was at 4.62%.

Its Gross non-performing assets (NPA) improved to 2.71% as compared to 3.19% in the previous quarter of July-September period and 3.27% year-on-year (YoY).

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