Kotak Mahindra Bank Q4 profits below expectations on high provisions; Gross NPA Ratio stable

Kotak Mahindra Bank stock fell over 2% in trade immediately post Q4FY21 results. The private bank reported profits below ET NOW poll expectations on the back of higher provisions. The Q4 gross NPA ratio at 3.25% was largely stable versus the proforma Gross NPA of 3.27% in Q3. Total cumulative provisions (incl. all provisions) stood at Rs 7021 cr, at 95% of Gross NPA and the management said they had not dipped into covid 19 provisions in Q4. The bank reported largely stable NIMs at 4.39% . Deposit growth up 6.6% yoy was lower than peers. The bank has been conservative in expanding its loan book as the advances book grew to Rs 2.23 lk crore up 1.8% yoy however growth has been better on QOQ basis (up 4.5% QOQ). The bank however posted strong consolidated profits at Rs 2589 crore , up 36% yoy.

Standalone Rs crore (All standalone unless specified separately)
NII at Rs 3843 cr vs Rs 3560cr, up 8% yoy
Operating profits before provisions at Rs 3407 cr, up 25% yoy
Profits at Rs 1682 cr vs. Rs 1266 cr, up 33% yoy
Consolidated Profit at Rs 2589 cr vs Rs 1905 cr, up 36% yoy
Q4 GNPA at 3.25% vs Proforma GNPA of 3.27% in Q3
Absolute GNPA 7426 cr vs proforma GNPA of 7126cr in Q3
Q4 Net NPA at 1.21% vs proforma NNPA of 1.24% in Q3

Let’s listen to Poonam Saney to catch more details on Kotak Bank Q4 results

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