Nirmal Bang: Kotak Mahindra Bank - Unwinding The Cautious Stance; Turning Focus Towards Growth
A Kotak Mahindra Bank Ltd. branch stands in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

Nirmal Bang: Kotak Mahindra Bank - Unwinding The Cautious Stance; Turning Focus Towards Growth

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

Kotak Mahindra Bank Ltd. reported results above our expectations.

Net interest income grew by 16.8% YoY and 5.1% QoQ on account of net interest margin expansion, which was mainly led by reduction in cost of deposits.

During the quarter, the reported savings account rate declined further to 3.87% from 4.22% in Q1 FY21 and 5.37% in Q2 FY20.

While there remains more room for further reduction as per the management, the same would be done strategically over time and not immediately.

Click on the attachment to read the full report:

Nirmal Bang Kotak Mahindra Bank Q2 FY21 Result Update -27 October 2020.pdf

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