Private sector lender Kotak Mahindra Bank posted its Q4 FY22 results on May 4, 2022.
The Bank reported a 14.3% QoQ jump in its consolidated PAT to Rs 3,891 crore from Rs 3,402 crore in the previous quarter. On a YoY basis, the PAT grew by 50% to Rs 3,891 crore from Rs 2,589 crore last year.
The bank’s operating profit for the March 2022 quarter came in at Rs 4,685 crore, up by 9.1% QoQ and 11% YoY.
The company reported a 2.4% QoQ jump in the interest it earned in the quarter under review to Rs 8,838 crore. The interest earned jumped 11% YoY to Rs 8,838 crore.
Kotak Bank’s Gross NPA for the quarter was down to 2.37% from 2.75% in the previous quarter and 3.22% y-o-y. The Net NPA is down to 0.71% Q-o-Q and 1.23% y-o-y.
The Board of Directors of the Bank has recommended a dividend of Rs 1.10 per equity share.
Highlights of Kotak Mahindra Bank Q4 2022 Results
- The Bank’s PAT for Q4 FY22 increased 14.3% QoQ, 50% YoY to Rs 3,891 crore
- Net Interest Income (NII) for Q4 FY22 increased to Rs 4,521 crore, up 18% y-o-y
- In Q4 FY22 the Net Interest Margin (NIM) was 4.78%
- Net Customer additions in Q4FY22 was 20 lakh against that of 11 lakh in Q4FY21. Customers as at March 31, 2022 were 3.27 crore
- CASA ratio as at March 31, 2022 stood at 60.7%
- Total assets managed by the Group as of March 31, 2022 were Rs 3.82 lakh crore, up 18% from Rs 3.23 lakh crore as of March 31, 2021
- Consolidated Customer Assets grew by 22% from Rs 2.68 lakh crore as of March 31, 2021 to Rs 3.27 lakh crore as of March 31, 2022
- Treasury, BMU and Corporate Center: Revenue down 15% YoY to Rs 2,055 crore
- Retail Banking: Revenue up 20% YoY to Rs 4,130 crore from Rs 3,441 last year
- Corporate/ Wholesale Banking: Revenue up 13.6% YoY to Rs 3,633 crore from Rs 3,197 in the year-ago period
- Vehicle Financing: Revenue up 18.1% YoY to Rs 566 crore from Rs 479 last year
- Other Lending Activities: Revenue up 8.7% YoY to Rs 373 crore
- Broking: Revenue up 28.8% YoY to Rs 679 crore
- Advisory and Transactional Services: Revenue up 67.3% YoY to Rs 174 crore
- Asset Management: Revenue up 13% YoY to Rs 365 crore from Rs 323 last year
- Insurance: Revenue down 1.9% YoY to Rs 6,055 crore
Other things to know about Kotak Mahindra Bank
- The bank’s P/E ratio is at 35.30 against the industry average of 21.98.
- The company’s P/B ratio is at 4.16 against the industry average of 2.20.
- Kotak Mahindra Bank’s dividend yield is at 0.05% against the industry average of 0.80%.
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Research Analyst: Bavadharini KS