The bank's total income rose to Rs 8,124.92 crore in Q3 December 2020 from Rs 8,077.03 crore in Q3 December 2019. Profit before tax in Q3 FY21 stood at Rs 2,484.31 crore in Q3 December 2020, up by 27.7% from Rs 1944.07 crore in Q3 FY20. Tax expense sharply rose to Rs 630.77 crore in Q3 December 2020 from Rs 348.17 crore in Q3 December 2019.

Operating profit increased by 81.1% to Rs 3083.34 crore in Q3 December 2020 from Rs 2388.07 crore in Q3 December 2019. Net interest income grew by nearly 17% to Rs 4007 crore in Q3 December 2020 from Rs 3430 crore in Q3 December 2019. Net Interest Margin (NIM) for Q3 December 2020 was at 4.51%. CASA ratio as of 31 December 2020 stood at 58.9% compared to 53.7% as at 31 December 2019. The result was announced during market hours today, 25 January 2021.

On the asset quality side, gross non-performing assets (NPAs) stood at Rs 4,928.04 crore as on 31 December 2020 as against Rs 5,335.95 crore as on 30 September 2020 and Rs 5,413.20 crore as on 31 December 2019.

The ratio of gross NPAs to gross advances stood at 2.26% as on 31 December 2020 as against 2.55% as on 30 September 2020 and 2.46% as on 31 December 2019. The ratio of net NPAs to net advances stood at 0.5% as on 31 December 2020 as against 0.64% as on 30 September 2020 and 0.89% as on 31 December 2019.

Provisions and contingencies spiked nearly 35% to Rs 599 crore in the third quarter as against Rs 444 crore in the same period last year.

In accordance with the Resolution Framework for COVID-19 announced by RBI on 6 August 2020, as at December 31, 2020, the bank has approved, for certain eligible borrowers, one-time restructuring of 0.28% of net advances. The bank has not classified any NPAs since 31 August 2020, basis the interim order of Supreme Court. Had the bank classified the borrowers more than 90 days overdue on 31 December 2020 as NPA, GNPA would be 3.27% and NNPA would be 1.24%. The bank has, however, made provision for such advances including towards interest accrued but not collected for the entire period, with moratorium. COVID related provisions as of 31 December 2020 stood at Rs 1,279 crore.

Capital adequacy ratio of the bank as per Basel III, as of 31 December 2020 was 21.5% and Tier I ratio was 20.9%.

Advances as at 31 December 2020 were at Rs 214,103 crore (Rs 204,845 crore as at 30 September 2020 and Rs 216,774 crore as at31 December 2019). Customer assets, which includes advances and credit substitutes, were Rs 228,809 crore as at 31 December 2020 (Rs 218,790 crore as at 30 September 2020 and Rs 227,206 crore as at 31 December 2019).

Kotak Mahindra Bank is a full-service commercial bank. The bank offers a wide range of products and services including personal, commercial, and corporate banking services, including deposit accounts, loans, and investments. As on 31 December 2020, the bank has a national footprint of 1,603 branches and 2,573 ATMs,

Shares of Kotak Mahindra Bank were down 2.72% at Rs 1781.35.

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