| Total income increased by 96 per cent to Rs 887.1 crore. Other income also rose by 114 per cent to Rs 204.5 crore as compared to Rs 95.4 crore in the same period last year. |
| "The bank's standalone profit has seen an impressive growth driven by robust growth in the lending book particularly retail and small commercial business. The spreads have also increased,'' said Jaimin Bhatt, chief financial officer, Kotak Mahindra Bank. |
| Kotak Mahindra Bank's consolidated net profit, excluding life insurance business was up 108 per cent to Rs 379.7 crore in the third quarter of 2007-08 from Rs 182.6 crore a year earlier. Its consolidated income increased 108 per cent to Rs 2,492.71 crore from Rs 1,190.59 crore a year earlier with fee income rising by 67 per cent to Rs 527.5 crore from Rs 315.4 crore a year earlier. |
| The bank's net interest margin (NIM) improved to 5.7 per cent from 5.2 per cent. |
| Its deposit base grew by 47 per cent in the third quarter to Rs 14,300 crore (excluding temporary deposits held as collection bankers to IPOs) from Rs 9,700 crore as on December 31, 2006, with current account and savings account (CASA) deposits (excluding monies held as collection bankers) comprising 24 per cent of total deposits (18 per cent as on December 31, 2006). The cost of funds for the bank was 6 per cent. |
| The advances of the bank grew by 54 per cent to Rs 14,600 crore as on December 31, 2007 from Rs 9500 crore as on December 31, 2006. The capital adequacy ratio of the bank as on December 31, 2007 was 18.4 per cent against 10.9 per cent as on December 31, 2006. |
| ``The bank plans to reach 250 branches in 2008. We have grown our advances book by 56 per cent year on year we will continue to grow faster than the industry,'' added Bhatt. The net non performing assets of the bank stood at 0.39 per cent. |
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