Kotak Bank Q4FY23 consolidated PAT up 17.3% at Rs4,566cr as Q4 NIM touches 5.75%

Kotak Bank reported 24.3% growth in total revenues for the March 2023 quarter on consolidated basis at Rs20,731cr. Revenue growth was 13.1% in sequential terms for Q4FY23. In terms of consolidation PAT contribution, the bank and the AMC reported higher profits. However, the Q4 profits were lower for the life insurance, broking, and the auto lending business.

For Q4FY23, the net interest income (NII) was up 35% at Rs6,103 crore while the net interest margins (NIM) expanded to 5.75%. for the full year FY23, the net interest income (NII) was up 28% at Rs.21,552 crore while the NIMs for the full year stood at 5.33%. The all important fees and other services income in the quarter 22% yoy to Rs1,928 crore.

Financial highlights for Mar-23 compared yoy and sequentially

 Kotak Bank    
Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income

₹ 20,731

₹ 16,676

24.31%

₹ 18,330

13.10%

Operating Profit

₹ 6,137

₹ 4,689

30.88%

₹ 5,373

14.22%

Net Profit

₹ 4,566

₹ 3,892

17.33%

₹ 3,995

14.30%

      
Diluted EPS

₹ 22.78

₹ 19.40

 

₹ 20.11

 
Operating Margins

29.60%

28.12%

 

29.31%

 
Net Margins

22.03%

23.34%

 

21.80%

 
Gross NPA Ratio

1.78%

2.34%

 

1.90%

 
Net NPA Ratio

0.37%

0.64%

 

0.43%

 
Return on Assets

0.74%

0.67%

 

0.62%

 
Capital Adequacy

21.80%

22.69%

 

19.66%

 

 

Net profit growth at a consolidated level was muted due to pressure from the non-bank related businesses. However, the good news is that the gross NPAs and the net NPAs are sharply lower on a yoy basis. The ROA at 0.74% for the fourth quarter is among the best in the banking industry in India. Net customer accretions in the fourth quarter were 22 lakhs while customer assets overall increased by 19%.

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