New Delhi: In the first quarter ending June 2024, Kotak Mahindra Bank recorded a 2 percent increase in standalone net profit to Rs 3,520 crore. The private sector bank recorded a net profit of Rs 3,452 crore in the corresponding quarter of the prior financial year.
Kotak Mahindra Bank reported a rise in total income to Rs 15,675 crore from Rs 13,183 crore in the previous year's quarter, according to a regulatory filing. In Q1 FY24, interest income rose to Rs 12,746 crore from Rs 10,500 crore. Regarding the quality of assets, the bank saw no change in its gross non-performing assets, which stood at 1.39 percent of gross advances.
In the same quarter a year ago, Net NPAs decreased from 0.40 per cent to 0.35 per cent. At the conclusion of June 30, 2024, the bank's Capital Adequacy Ratio was 22.41 per cent, compared to 21.12 per cent at the same quarter last year.
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