In the fourth quarter of the 2023-24 fiscal year, Kotak Bank’s total income grew to ₹15,285 crore from ₹12,007 crore in the corresponding period of the previous year. This increase was primarily driven by a rise in net interest income (NII), which climbed 13% to ₹6,909 crore. The bank’s total income for the full year 2023-24 rose to ₹56,072 crore from ₹41,334 crore in 2022-23, reflecting a robust 35% growth.
Kotak Mahindra Bank’s net profit for the full fiscal year 2023-24 increased to ₹13,782 crore, marking a significant 26% growth over the ₹10,939 crore reported in the previous fiscal year. This growth was fuelled by the strong performance in the fourth quarter, as well as healthy growth throughout the year.
The bank’s net interest income (NII) for the fiscal year 2023-24 increased by a noteworthy 21% to ₹25,993 crore, compared to ₹21,552 crore in the previous fiscal year. This growth was supported by an expansion in loan and advances, coupled with a favourable interest rate environment.
As of March 31, 2024, Kotak Mahindra Bank reported a gross non-performing asset (NPA) ratio of 1.39% and a net NPA ratio of 0.34%, indicating a well-managed credit portfolio. The bank’s strong financial performance and prudent risk management practices continue to position it as a leading player in India’s banking sector.
