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Kotak Bank: Steep fall in other income - Views on News from Equitymaster

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Kotak Bank: Steep fall in other income

Nov 1, 2013

Kotak Bank declared the results for the second quarter and first half of financial year 2013-14 (1HFY14).The bank has reported 23% YoY and 31% YoY growth in net interest income and net profits respectively in 1HFY14. Here is our analysis of the results.

Performance summary
  • Net interest income grows 23% YoY in 1HFY14 on the back of 11% YoY growth in advances.
  • NIMs remain improve to 4.9% at the end of 1HFY14 from 4.6% in 1HFY13, higher than sector average (CASA at 38% of total deposits).
  • Other income falls by more than 50% YoY in 2QFY14 and by 10% YoY in 1HFY14. The fee income however remained stable in 2QFY14 over that in 2QFY13.
  • Cost to income ratio for the consolidated entity fell from 68% in 1HFY13 to 57% in 1HFY14. For the banking entity it stood at 57% at the end of September 2013.
  • Net NPA to advances move up from 0.75% of advances in 1HFY13 to 0.96% in 1HFY14. Restructured loans were 0.09% of loan book at the end of June 2013. Having said that the bank has not participated in any CDR scheme.
  • Capital adequacy ratio (CAR) comfortable at 19.4%, Tier I CAR at 18.1% at the end of 1HFY14.

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