Total income of the bank increased by 27% YoY to Rs 15,285.35 crore during the period under review.

While the bank’s net interest income rose by 13% to Rs 6,909 crore, net interest margin, however, declined by 47 basis points to 5.28% in Q4 FY24 as compared with Q4 FY23.

Operating Profit of the bank for the fourth quarter was Rs 5,462 crore, up 18% YoY.

Provision & contingencies jumped by 80% to Rs 264 crore in Q4 FY24 from Rs 147 crore in Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 5,198 crore, up by 16% from Rs 4,500 crore in Q4 FY23.

For FY24, Kotak Mahindra Bank has recorded net profit and total income of Rs 13,782 crore (up 26% YoY) and Rs 56,072.01 crore (up 36% YoY).

The customer base of the bank as at 31 March 31, 2024 was 5.0 crore as against 4.1 crore as at 31 March 2023.

While the bank’s advances increased by 18% to Rs 376,075.27 crore, deposits rose by 24% to Rs 448,953.75 crore as on 31 March 2024.

GNPA of the bank was Rs 5,275 crore as on 31 March 2024 as against Rs 5,768 crore as on 31 March 2023 and Rs 6,302 crore as on 31 December 2023.

GNPA ratio was 1.39% as on 31 March 2024 as against 1.78% as on 31 March 2023 and 1.73% crore as on 31 December 2023.

NNPA ratio was 0.34% as on 31 March 2024 as against 0.37% as on 31 March 2023 and 0.34% crore as on 31 December 2023.

Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending and car finance.

The scrip had declined 1.81% to end at Rs 1547.25 on the BSE on Friday.