Kotak Bank Q3 net up 39%, at Rs 880 crore

Kotak Mahindra Bank (KMB) on Wednesday reported 39% rise in its net profit during the third quarter ended December 31, 2016. It registered a net profit of Rs 880 crore as against Rs 635 crore during the same period last time. 

The bank's net interest income rose by 16% to Rs 2,050 crore in Q3FY17 from Rs 1,766 crore in Q3FY16. The net interest margin for the December quarter stood at 4.49% up from 4.34% n year-on-year basis. 

As per the company's regulatory filing, the gross non-performing assets was 2.42% and net NPA was 1.07% till December 31, 2016. 

The restructured loans considered standard were down to Rs 146 crore i.e. 0.11% of net advances as against Rs 147 crore i.e. 0.12% of net advances as on September 30, 2016. 

Active debit card customers saw a rise of 86% in the month of December, 2016 as compared to the period prior to demonetisation. 

The savings deposits grew by 45% to Rs 38,566 crore in Q3FY17 compared to Rs 26,579 crore in Q3FY16. Current account deposits grew by 24% to Rs 24,217 crore in December, 2016 quarter compared to Rs 19,609 crore in a year before. CASA as on December, 2016 stood at 42% compared to 35.3% during the same period in last fiscal.