The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the audited standalone and consolidated results for the quarter and financial year ended March 31, 2024, at the Board meeting held in Mumbai. Kotak Mahindra Bank’s standalone PAT for FY24 rose 26% YoY to Rs. 13,782 crore from Rs. 10,939 crore in FY23. PAT for Q4FY24 stood at Rs. 4,133 crore, up 18% YoY from Rs. 3,496 crore in Q4FY23 (up 38% QoQ from Rs. 3,005 crore in Q3FY24).
The Net Interest Income for FY24 increased by 21% YoY to Rs. 25,993 crore, and for Q4FY24 by 13% YoY to Rs. 6,909 crore, a 5% QoQ increase from Rs. 6,554 crore in Q3FY24. Net Interest Margin (NIM) was 5.28% for Q4FY24.
The company’s Consolidated PAT for FY24 increased by 22% YoY to Rs. 18,213 crore, while Q4 FY24’s PAT increased by 17% YoY to Rs. 5,337 crore, and by 25% QoQ to Rs. 4,265 crore in Q3 FY24. The company’s consolidated return on assets (ROA) for FY24 was 2.66%, while for Q4FY24 it was 2.92%. The return on equity was 15.08% for FY24 and 16.85% for Q4FY24. The consolidated capital adequacy ratio as per Basel III as at March 31, 2024 was 21.8% and CET I ratio was 20.7%. Consolidated Networth as at March 31, 2024 was Rs. 129,892 crore.
