The consolidated net profit of private sector mahindra BANK' target='_blank' title='kotak mahindra bank-Latest Updates, Photos, Videos are a click away, CLICK NOW'>kotak mahindra bank increased by 10.22 percent to Rs 4,701 crore in the October-December quarter of the current financial year. The good performance of the bank's capital market related units has increased its profit. The bank's net profit was Rs 4,265 crore in the same quarter of the previous financial year and Rs 5,044 crore in the July-September, 2024 quarter.
The net profit of the bank on a standalone basis stood at Rs 3,304 crore in the quarter under review, as against Rs 3,005 crore in the same quarter of the previous financial year and Rs 3,343 crore in the July-September quarter.
The bank's Chief Executive Officer (CEO) and Managing director (MD) ashok Vaswani said on saturday that the bank has made significant progress on the technology front, which has resolved the concerns due to which the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) imposed business restrictions last April. However, Vaswani also said that the bank is in regular contact with the central bank, but there is no information about when the restrictions imposed on it will be lifted.
The profit of capital market unit Kotak Securities and mahindra BANK' target='_blank' title='kotak mahindra-Latest Updates, Photos, Videos are a click away, CLICK NOW'>kotak mahindra capital jointly increased by 59 percent to Rs 542 crore. As a result, the share of the major bank business in the total profit decreased to 72 percent. The total income of the bank increased to Rs 16,050 crore in the quarter under review, which was Rs 14,096 crore in the same quarter of the previous financial year.
The company's expenditure stood at Rs 10,869 crore in the december quarter, which was Rs 9,530 crore in the same quarter of the previous financial year. The company's gross non-performing asset (NPA) ratio increased to 1.50 percent from 1.49 percent three months ago.
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