KIFS Result update of KOTAK Bank Q1 FY12

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KIFS Result update of KOTAK Bank Q1 FY12.

OVERVIEW

Kotak Mahindra Bank is a one stop shop for all banking needs. The bank offers personal finance solutions of every kind from savings accounts to credit cards, distribution of mutual funds to life insurance products. Kotak Bank offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans.  The bank has 323 branches across 184 locations and 725 ATM’s as on Q1FY12. The bank derives almost 50% revenues from Corporate/Wholesale banking and 25% revenues from Retail banking operations. Treasury operations form a big part towards contributing to revenues at 25%.

Key highlights:

· Total income grew by 44% Y-o-Y to Rs. 1330 cr. v/s Rs. 921 cr in June-10

· Operating Profit grew by 22% Y-o-Y to Rs. 386 cr.  v/s Rs. 315 cr in June-10

· Net profit grew by 35% Y-o-Y to Rs. 252 cr.  v/s  Rs. 187 cr in June-10

· Gross NPA’s fell by 141 bps Y-o-Y to 1.88%  v/s 3.29% in June-10

· Net NPA’s fell by 67 bps Y-o-Y to 0.66% v/s 1.33% in June-10

Thanks and Regards,

KIFS Research