Kotak Mahindra Bank reported a 13% rise in quarterly profit, reaching Rs 5,044 crore, driven by its subsidiaries' performance. While standalone profit grew 5%, provisions limited gains. The bank experienced a rise in unsecured loan slippages,

India's Kotak Mahindra Bank on Saturday reported a lower-than-expected 5% increase in July-September profit on higher loan provisions while lending margins shrank. The private lender's standalone net profit,

Despite higher provisions, the bank's net interest income rose 11% to Rs 7,020 crore. Meanwhile, provisions for the quarter were at Rs 660 crore, up 80%.

Kotak Mahindra Bank on Tuesday posted a marginal 5 per cent increase in its standalone profit to ₹3,344 crore in the second quarter ended in September 2024. The private sector lender had recorded a net profit of ₹3,191 crore in the same quarter a year ago.

Kotak Mahindra Bank will buy Standard Chartered Bank's personal loan business in India, the Indian lender said on Friday, leaving the U.K.-based company to focus on its wealth and investment banking business in Asia's third-largest economy.

Kotak Mahindra Bank reported a 5% increase in its standalone profit for the second quarter of 2024, reaching Rs 3,344 crore. Despite a rise in interest income and decreased gross NPAs, the bank saw a moderation in Net Interest Margin to 4.

On Friday (October 18), shares of Kotak Mahindra Bank Ltd ended at ₹1,869.80, up by ₹5.90, or 0.32% on the BSE.

HDFC Bank, India's largest private lender, beat analysts' forecasts for July-September profit on Saturday, helped by higher core lending income, while margins were slightly lower on a sequential basis.