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Motilal Oswal Report
Kotak Mahindra Bank Ltd. reported a strong Q4 FY22, with a 64% YoY growth in standalone profit after tax to Rs 27.7 billion. This was driven by provision write-back in Q4 FY22 as pre-provision operating profit growth stood at 13% YoY.
Healthy loan growth and improving margin supported traction in PPOP. Consolidated profit after tax stood at Rs 39 billion, up 50% YoY.
Loan book grew 7% QoQ and 21% YoY to Rs 2.7 trillion, led by sustained momentum across home loans and the loan-against property business (up 39% QoQ), while the unsecured book (personal loan, business loan, consumer durables, and credit cards) grew 42% YoY.
This is a reflection of the huge opportunity in this segment and its comfort in growing the portfolio within the guardrails of risk applied by Kotak Mahindra Bank. Current account and savings account mix improved by 80 basis points QoQ to 60.7%.
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