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The private bank reported standalone net profit of 30.05 billion rupees ($361.7 million) in the quarter ended Dec. 31, compared to analysts' expectations of 31.94 billion rupees, per LSEG data.
Kotak Mahindra Bank reported 8% YoY growth in net profit to Rs 3,005 crore for Q3 2023, due to provisioning towards alternative investment funds and loss in the fixed income book. Net interest income rose nearly 16% YoY to Rs 6,553 crore. The gross non-performing assets ratio was 1.73%, and slippages increased to Rs 1,177 crore. The net non-performing assets ratio was 0.34%. Total advances were at Rs 3.72 lakh crore, driven by growth in retail micro finance and credit cards. The bank plans to raise funds and re-appoint Uday Shankar as independent director. For the nine months ended December, n...
Shares of HDFC Bank Ltd. bounced Thursday, after disappointment over net interest margins and weaker deposit growth had sent them to their worst two-day...
Significant upsides in the stock hinges on improvement in net interest margin but this is likely to be gradual at best
Banks post mixed profit picture for 2023 amid economic vulnerabilities and modest credit growth.