Kotak Mahindra Bank’s Q3 standalone net profit up 22.6%

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New Delhi, Jan 21 (IANS) Kotak Mahindra Bank on Monday reported a 22.57 per cent increase in its standalone net profit during the October-December quarter on a year-on-year basis.

Its standalone net profit stood at Rs 1,290.93 crore, up from Rs 1,053.21 crore recorded during the third quarter of the financial year 2017-18, the bank said in a regulatory filing at the BSE.

The private lender’s total income during Q3 of ongoing financial year (2018-19) was Rs 7,214.21 crore, higher by 19.26 per cent from Rs 6,049.02 crore earned during the corresponding period of the previous year.

“As on December 31, 2018, the GNPA (Gross Non-Performing Asset) was 2.07 per cent and NNPA (Net Non-Performing Asset) was 0.71 per cent,” it said.

Capital adequacy ratio of the bank, including unaudited profits as per Basel-III, as on December 31 was 18.1 per cent and Tier-I ratio was 17.6 per cent.



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