Kotak Mahindra Bank net up 11%
During the same quarter last fiscal, the bank had reported a net profit of Rs 2,348.72 crore. It said that for Q3FY21, the bank's contribution to the consolidated profit after tax was Rs 1,854 crore.
Mumbai: During the same quarter last fiscal, the bank had reported a net profit of Rs 2,348.72 crore.
It said that for Q3FY21, the bank’s contribution to the consolidated profit after tax was Rs 1,854 crore. The net contribution of subsidiaries and associates was 29 per cent of the consolidated PAT.
The bank’s net interest income (NII) for Q3FY21 increased to Rs 4,007 crore, from Rs 3,430 crore in Q3FY20, up 17 per cent. Net Interest Margin (NIM) for Q3FY21 was at 4.51 per cent.
Covid related provisions as at December 31, 2020 stood at Rs 1,279 crore.
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