CREDIT SUBSTITUTES ROSE 18% Y-O-Y TO ₹3.6 TRN
THE NET PROFIT of Kotak Mahindra Bank rose 67% year-on-year (y-o-y) in the June quarter due to a growth in its loan book. The bank posted a bottom line of ₹3,452 crore in April-June, higher than the ₹3,219 crore estimated by Bloomberg.
But, provisions for tax rose to ₹1,133 crore in the June quarter from ₹689 crore in the March quarter due to which, the bottom line was slightly lower on a sequential basis. On a consolidated basis, net profit was ₹4,150 crore. The private bank's advances rose 19% y-o-y to ₹3.4 trillion as on June 30. Customer assets, which comprise advances and credit substitutes rose 18% y-o-y to ₹3.6 trillion.
Bu hikaye Financial Express Mumbai dergisinin July 23, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin July 23, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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