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Business EconomyPosted at: Jul 21 2016 2:58PM


Kotak Mahindra Bank net jumps nearly 4-fold to Rs 741.97 cr

Mumbai, Jul 21(UNI) Private Sector Lender Kotak Mahindra Bank has reported a jump of nearly four fold in its standalone net profit at Rs 741.97 crore for the quarter ended June 30, 2016 against Rs 189.79 crore in the year-ago quarter.
Total Income has increased from Rs 4583.86 crore for the quarter ended June 30, 2015 to Rs 5120.03 crorefor the quarter ended June 30, 2016, up by 11.69 percent.
Net interest income (NII) in the reporting quarter was up 20 per cent at Rs. 1,919 crore against Rs. 1,598 cr in the year ago period.
Other income for the quarter undrer review rose 24 percent to Rs 733 crore from Rs 592 crore for the same quarter a year ago.
Net interest margin (NIM) for quarter ended June 30, 2016 improved to 4.37 per cent from 4.18 percent for same quarter ayear ago.
As on June 30, 2016, gross non-performing assets and net non-performing assets edged up to 2.50 percent from 2.31 percent in the year ago period) and 1.21 per cent from 1.04 per cent, respectively.
Advances as on June 30, 2016 were up 17 per cent year-on-year (YOY) at Rs. 120,765 crore. Deposits as on June 30, 2016 were up 20 per cent year-on-year at Rs 140,028 crore.
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Tags: #Kotak Mahindra Bank net jumps nearly 4-fold to Rs 741.97 cr
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