|
Kotak Mahindra Bank
(KMB), on a standalone basis, reported 3% decline in Net Profit to Rs 3253.33
crore in the quarter ended September 2025 (Q2FY2026) over the corresponding
quarter of last year. NIMs of the bank have declined to 4.54% in Q2FY2026
compared with 4.65% in the previous quarter and 4.91% in the corresponding
quarter last year. The credit cost (NPA provisions as an annualized percentage
of loans) rose to 0.83% in Q2FY2026 from 0.64% in Q2FY2025.
However, the bank has
exhibited healthy improvement in asset quality. The cost-to-income ratio
declined to 46.78% in Q2FY2026 from 47.45% in the corresponding quarter last
year. The bank has also exhibited an improvement in loan growth to 14% at end
September 2025. The business growth of the bank gained to 15% at end September
2025.
On consolidated front,
the bank has reported 11% decline in the Net Profit to Rs 4468.27 crore for the
quarter ended September 2025, down from Rs 5044.05 crore in the quarter ended
September 2025. NII increased 6% to Rs 9866.18 crore, while other income dipped
26% to Rs 7702.65 crore. The operating profit fell 7% to Rs 7017.19 crore in
the quarter ended September 2025. Provisions and contingencies have increased 18%
to Rs 1054.42 crore, while the effective tax rate was higher at 25.44% in
Q2FY2026, compared with 24.8% in Q2FY2025.
Asset quality improves: The bank has improved
the asset quality in the quarter ended September 2025.
On standalone basis,
GNPA ratio has improved to 1.39% and NNPA ratio to 0.32% at end September 2025.
The SMA-2 category loans
of the bank rose to Rs 390 crore at end September 2025 from Rs 340 crore a
quarter ago and Rs 176 crore a year ago.
Capital Adequacy ratio
under Basel III including profits stood at 22.10% with the Tier I of 20.90% at
end September 2025.
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Standalone Asset Quality Indicators: Kotak
Mahindra Bank
|
|
|
Sep-25
|
Jun-25
|
Mar-25
|
Dec-24
|
Sep-24
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Variation
|
|
QoQ
|
YTD
|
YoY
|
|
Gross NPA (Rs Crore)
|
6479.58
|
6637.70
|
6133.85
|
6266.25
|
6033.17
|
-2
|
6
|
7
|
|
Net NPA (Rs Crore)
|
1490.98
|
1530.93
|
1343.44
|
1680.98
|
1723.83
|
-3
|
11
|
-14
|
|
% Gross NPA
|
1.39
|
1.48
|
1.42
|
1.50
|
1.49
|
-9
|
-3
|
-10
|
|
% Net NPA
|
0.32
|
0.34
|
0.31
|
0.41
|
0.43
|
-2
|
1
|
-11
|
|
% PCR
|
77.00
|
77.00
|
78.00
|
73.00
|
71.00
|
0
|
-100
|
600
|
|
% CRAR - Basel III
|
22.05
|
23.00
|
22.25
|
22.79
|
22.61
|
-95
|
-20
|
-56
|
|
% CRAR - Tier I - Basel III
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0
|
0
|
0
|
|
Variation in basis points for figures given in
percentages and in % for figures in Rs crore
|
Business Highlights: Standalone
Business Highlights
The business level of
the bank increased 15% yoy to Rs 991464 crore at end September 2025. The
deposits moved up 15% to Rs 528776 crore, while advances increased 16% to Rs
462688 crore at end September 2025. The credit-deposit ratio rose to 87.50% at
end September 2025 from 86.74% a quarter ago.
Segment wise, Corp &
Business banking recorded loan growth of 18% to Rs 109240 crore, CV/CE 12% to
Rs 43676 crore, Agriculture Division 10% to Rs 24330 crore, Tractor Finance 17%
to Rs 18439 crore, Home Loans & LAP 18% to Rs 137893 crore, Consumer Bank
WC (Secured) 20% to Rs 47825 crore, PL, BL and Consumer Durables 16% to Rs
24272 crore, and SME 16% to Rs 37193 crore end September 2025 over September
2025. Credit Cards loan book declined 14% to Rs 12444 crore.
The CASA deposits ratio improved
on sequential basis to 42.32% at end September 2025 from 40.88% a quarter ago
and declined from 43.62% a year ago. The cost of saving account deposits dipped
to 2.89% at end September 2025 from 4.12% a year ago.
The bank has added 44
branches and reduced 169 ATMs in the quarter ended September 2025. The branch
and ATMs network of the bank stood at 2198 branches and 2758 ATMs at end
September 2025.
Book Value per share of the bank
stood at Rs 629.4 per share at end September 2025. Adjusted book value (net of
NNPA and 10% of restructured advances) stood at Rs 621.8 per share at end
September 2025.
Consolidated Business
Highlights
Total assets of the bank
increased 13% to Rs 912952 crore at end September 2025. Consolidated customer
assets increased 13% to Rs 576339 crore at end September 2025.
Book Value per share stood at Rs
844.5 per share at end September 2025, while adjusted book value (net of NNPA)
stood at Rs 834.4 per share at end September 2025.
Consolidated Quarterly
Performance:
On the consolidated
front, the bank has reported 11%
decline in the net profit at Rs 4468.27 crore,
with the NII growth of 6% to Rs 9866.18 crore in the quarter ended September 2025.
Non-interest income declined 26% to Rs 7702.65
crore and net total income fell 11% to
Rs 17568.83 crore in the quarter ended September
2025. The expense ratio was lower at 60.1%, while the tax rate was higher at
25.4% in the quarter ended September 2025.
Kotak Prime has reported
1% yoy decline in the net total income at Rs 723 crore for Q2FY2026, while net
profits fell 9% to Rs 246 crore. Total customer asset moved up 12% yoy to Rs
42274 crore at end September 2025. Car advances constituting 81.4% of the total
customer assets increased 7% to Rs 34415 crore. Asset quality has weakened with
%NNPA rising to 1.20% at end September 2025 from 0.90% at end September 2025.
Kotak Mahindra Life
Insurance has reported 11% increase in the gross premium collection to Rs 4430
crore in Q2FY2026. PAT dipped 86% to Rs 49 crore in Q2FY2026. Solvency ratio rose
to 2.33% in Q2FY2026 against 2.57% in Q2FY2025.
Kotak Securities has
reported PAT at Rs 345 crore in Q2FY2026, exhibiting 22% decline from Rs 444
crore in Q2FY2025. Total income declined 6% to Rs 1299 crore. Market share
declined to 9.6% at end September 2025 from 10.1% a quarter ago and improved
from 9.3% a year ago.
Kotak Mahindra Capital
has reported a net profit of Rs 60 crore, against Rs 90 crore in the
corresponding quarter last year. AUM increased 12% to Rs 760598 crore at end September 2025 over
September 2025.
Kotak Mahindra AMC and
Trustee Co reported 20% surge in Average AUM at Rs 567001 crore in the quarter
ended September 2025. The net profit of the company jumped 31% to Rs 258 crore
in Q2FY2026.
Standalone Financial
Performance - H1FY2026:
For the half year ended
September 2025 (H1FY2026), the bank posted 32% dip in the net profit to Rs
6535.01 crore. The net interest income increased 5% to Rs 14570.03 crore, while
the non-interest income improved 1% to Rs 5669.16 crore in H1FY2026. Expense
ratio eased to 46.5% in H1FY2026 compared to 46.8% in H1FY2025. The provision
and contingencies surged 74% to Rs 2155.18 crore H1FY2026. The profit before
tax declined 5% to Rs 8676.78 crore in H1FY2026. PBT dipped 31% in Q2FY26 after
EO income of Rs 3515.9 crore from 70%
stake sale in its subsidiary Kotak Mahindra General Insurance Company in Q2FY25. The
effective tax rate was marginally rose to 24.7% in H1FY2026 compared to 24.1%
in H1FY2025. Net profit declined 32% to Rs 6535.01 crore in H1FY2026.
Consolidated Financial
Performance - H1FY2026:
For the half year ended
September 2025 (H1FY2026), the bank posted 28% decline in the net profit to Rs
8940.45 crore. The net interest income improved 7% to Rs 19587.40 crore, while
non-interest income fell 13% to Rs 17158.26 crore in H1FY2026. Expense ratio
was lower at 60.8% in H1FY2026 compared to 62.3% in H1FY2025. The provision and
contingencies jumped 43% to Rs 2375.59 crore in H1FY2026. The profit before tax
fell 5% to Rs 12016.17 crore in H1FY2026. PBT dipped 27% in Q2FY26 after EO
income of Rs 3803.40 crore from 70%
stake sale in its subsidiary Kotak Mahindra General Insurance Company in Q2FY25. The
effective tax rate was higher at 26.1% in H1FY2026 compared to 24.7% in
H1FY2025. while the net profit declined 28% to Rs 8940.45 crore in H1FY2026.
|
Kotak Mahindra Bank: Standalone Results
|
|
Particulars
|
2509 (3)
|
2409 (3)
|
Var %
|
2509 (6)
|
2409 (6)
|
Var %
|
2503 (12)
|
2403 (12)
|
Var %
|
|
Interest Earned
|
13649.41
|
13216.27
|
3
|
27485.95
|
25962.38
|
6
|
52919.73
|
45798.91
|
16
|
|
Interest Expended
|
6338.67
|
6196.66
|
2
|
12915.92
|
12100.42
|
7
|
24577.95
|
19805.71
|
24
|
|
Net Interest Income
|
7310.74
|
7019.61
|
4
|
14570.03
|
13861.96
|
5
|
28341.78
|
25993.20
|
9
|
|
Other Income
|
2589.18
|
2684.19
|
-4
|
5669.16
|
5617.23
|
1
|
11422.49
|
10273.10
|
11
|
|
Net Total Income
|
9899.92
|
9703.80
|
2
|
20239.19
|
19479.19
|
4
|
39764.27
|
36266.30
|
10
|
|
Operating Expenses
|
4631.65
|
4604.55
|
1
|
9407.23
|
9121.83
|
3
|
18753.70
|
16678.85
|
12
|
|
Operating Profits
|
5268.27
|
5099.25
|
3
|
10831.96
|
10357.36
|
5
|
21010.57
|
19587.45
|
7
|
|
Provisions & Contingencies
|
947.42
|
660.39
|
43
|
2155.18
|
1238.87
|
74
|
2942.36
|
1573.73
|
87
|
|
Profit Before Tax
|
4320.85
|
4438.86
|
-3
|
8676.78
|
9118.49
|
-5
|
18068.21
|
18013.72
|
0
|
|
EO
|
0.00
|
0.00
|
-
|
0.00
|
3515.90
|
-
|
3515.90
|
0.00
|
-
|
|
PBT after EO
|
4320.85
|
4438.86
|
-3
|
8676.78
|
12634.39
|
-31
|
21584.11
|
18013.72
|
20
|
|
Provision for Tax
|
1067.52
|
1095.14
|
-3
|
2141.77
|
3040.85
|
-30
|
5134.03
|
4232.14
|
21
|
|
PAT
|
3253.33
|
3343.72
|
-3
|
6535.01
|
9593.54
|
-32
|
16450.08
|
13781.58
|
19
|
|
EPS*(Rs)
|
65.4
|
67.3
|
|
65.7
|
69.7
|
|
69.3
|
69.3
|
|
|
Equity
|
994.3
|
994.1
|
|
994.3
|
994.1
|
|
994.1
|
994.0
|
|
|
Adj BV (Rs)
|
621.9
|
547.7
|
|
621.9
|
547.7
|
|
582.3
|
479.5
|
|
|
* EPS and Adj BV are calculated on diluted equity as given
for each year. Face Value: Rs 5 , Figures in Rs crore,
|
|
Source: Capitaline Corporate Database
|
|
Kotak Mahindra Bank: Consolidated Results
|
|
Particulars
|
2509 (3)
|
2409 (3)
|
Var %
|
2509 (6)
|
2409 (6)
|
Var %
|
2503 (12)
|
2403 (12)
|
Var %
|
|
Interest Earned
|
17198.74
|
16426.97
|
5
|
34447.05
|
32263.76
|
7
|
65668.83
|
56236.63
|
17
|
|
Interest Expended
|
7332.56
|
7138.98
|
3
|
14859.65
|
13944.23
|
7
|
28274.55
|
22567.24
|
25
|
|
Net Interest Income
|
9866.18
|
9287.99
|
6
|
19587.40
|
18319.53
|
7
|
37394.28
|
33669.39
|
11
|
|
Other Income
|
7702.65
|
10453.05
|
-26
|
17158.26
|
19692.13
|
-13
|
37407.27
|
38037.28
|
-2
|
|
Net Total Income
|
17568.83
|
19741.04
|
-11
|
36745.66
|
38011.66
|
-3
|
74801.55
|
71706.67
|
4
|
|
Operating Expenses
|
10551.64
|
12203.82
|
-14
|
22353.90
|
23692.41
|
-6
|
45756.68
|
45870.82
|
0
|
|
Operating Profits
|
7017.19
|
7537.22
|
-7
|
14391.76
|
14319.25
|
1
|
29044.87
|
25835.85
|
12
|
|
Provisions & Contingencies
|
1054.42
|
890.36
|
18
|
2375.59
|
1664.80
|
43
|
3859.24
|
1972.47
|
96
|
|
Profit Before Tax
|
5962.77
|
6646.86
|
-10
|
12016.17
|
12654.45
|
-5
|
25185.63
|
23863.38
|
6
|
|
EO
|
0.00
|
0.00
|
-
|
0.00
|
3803.40
|
-
|
3803.40
|
0.00
|
-
|
|
PBT after EO
|
5962.77
|
6646.86
|
-10
|
12016.17
|
16457.85
|
-27
|
28989.03
|
23863.38
|
21
|
|
Provision for Tax
|
1516.83
|
1649.08
|
-8
|
3141.10
|
4060.68
|
-23
|
7043.29
|
5886.55
|
20
|
|
PAT Before Minority Interest
|
4445.94
|
4997.78
|
-11
|
8875.07
|
12397.17
|
-28
|
21945.74
|
17976.83
|
22
|
|
Share of minority interest
|
0.00
|
0.00
|
-
|
0.00
|
0.00
|
-
|
0.00
|
0.00
|
-
|
|
Share in profits of associates
|
22.33
|
46.27
|
-52
|
65.38
|
95.04
|
-31
|
180.25
|
236.38
|
-24
|
|
PAT
|
4468.27
|
5044.05
|
-11
|
8940.45
|
12492.21
|
-28
|
22125.99
|
18213.21
|
21
|
|
EPS*(Rs)
|
89.9
|
106.9
|
|
89.9
|
96.8
|
|
96.8
|
91.6
|
|
|
Equity
|
994.3
|
944.1
|
|
994.3
|
944.1
|
|
994.1
|
994.0
|
|
|
Adj BV (Rs)
|
834.4
|
768.7
|
|
834.4
|
768.7
|
|
782.8
|
645.5
|
|
|
* EPS and Adj BV are calculated on diluted equity as given
for each year. Face Value: Rs 5 , Figures in Rs crore,
|
|
Source: Capitaline Corporate Database
|
|