Kotak Mahindra Bank Limited
NSE Symbol KOTAKBANK
Q2 FY2011
Performance Highlights
Consolidated PAT for Q2FY11 up 21% to Rs.364.1Cr from Rs. 299.8 Cr in Q2FY10. (Q1FY11 Rs. 327.7 Cr)
Consolidated advances up 40% to Rs.375 bn as on September 30, 2010 from Rs.268 bn as on September 30, 2009. (June 30, 2010 : Rs.330 bn; March 31, 2010 Rs. 297 bn)
Consolidated NIM Q2FY11 at 5.6%. (Q2FY10 – 5.9%; Q1FY11 – 5.7%; FY10 – 6.1%).
Consolidated capital adequacy ratio (CAR) as per Basel II as on September 30, 2010 is 17.2%. Tier 1 is 15.7%.
Standalone PAT for Q2FY11 up 55% to Rs.194.7 Cr from Rs.125.9 Cr in Q2FY10. (Q1FY11 Rs.186.9 Cr)
CASA deposits as on September 30, 2010 Rs.9017.9 Cr up 65% over September 30, 2009 at Rs.5456.5 Cr (June 30, 2010 Rs.6657.3 Cr; March 31, 2010 Rs. 7463.1 Cr).
CASA deposits comprised 31.9% of total deposits as on September 30, 2010. (September 30, 2009 – 28.8%; March 31, 2010 – 31.2%).
Consolidated net non performing assets excluding acquired stressed assets at 0.69% of advances (September 30, 2009 Rs.456.9 Cr; 1.72% and March 31 2010 Rs.337.8 Cr; 1.14%).
In August 2010, Kotak Bank allotted 16,400,000 equity shares of ` 10/- each at a premium of ` 823/- per equity share for a total consideration of Rs.13.66 bn on preferential basis to Sumitomo Mitsui Banking Corporation.
In September 2010, each equity share of the Bank having face value of Rs.10 has been sub-divided into two equity shares of face value of Rs.5.
The group has a network of over 1,900 branches and franchises across the country servicing close to 8 mn customer accounts.
Consolidated Financials
Revenues ` million :: Q2FY11: Q2FY10: Q1FY11:
Financing activities :- 11,013; 8,321; 9,859;
Fee Income :- 3,213; 3,463; 3,262;
Premium Income:- 7,263; 5,793; 5,462;
Treasury :- 3,616; 2,655; 3,118;
Others :- 525; 423; 586;
Total Revenues**:- 25,630: 20,655; 22,287;
*Fee income is net of sub brokerage
**Revenues exclude treasury (policyholders) income
Analytical Ratios
As on : 09,’10 :: 09,’09 :: 06,’10:: 03,’10
Networth (` mn) :: 100,596 :: 71,293 :: 82,642::79,109
B.V per share (F.V.Rs.5):: 137.2:: 102.8:: 118.5::113.6
Net Interest Margin (%) :- 5.6% :: 5.9% :: 5.7% :: 6.1%
Return on average Networth (%)::16.0% ::16.3% ::16.2% ::18.2%
(YTD annualised)
Standalone
Performance Highlights
Standalone PAT for Q2FY11 up 55% to Rs.194.7 Cr from Rs.125.9 Cr in Q2FY10. (Q1FY11 Rs.186.9 Cr)
Net Interest Income (NII) of the Bank (Standalone) for Q2FY11 up 25% yoy to Rs.543.8 Cr vs. ` Rs.4,36.5Cr in Q2FY10. (Q1FY11 Rs.508.2 Cr).
Retail Banking profit for Q2FY11 Rs.876 Cr against a loss of Rs.6.3 Cr in Q2FY10, largely due to higher contribution by lending.
Corporate Banking profit for Q2FY11 up 35% yoy to Rs.138.2 Cr.
Advances up 35% to Rs.265 bn as on September 30, 2010 from Rs.197 bn as on September 30, 2009. (June 30, 2010 Rs.232 bn; March 31, 2010 Rs.208 bn).
Deposits as on September 30, 2010 were up 50% to Rs.283 bn ( Rs.189 bn as on September 30, 2009; Rs.239 bn as on March 31, 2010).
CASA deposits comprised 31.9% of total deposits as on September 30, 2010. (September 30, 2009 – 28.8%; March 31, 2010 – 31.2%).
Capital adequacy ratio of the Bank as per Basel II as on September 30, 2010 is 19.4%. Tier 1 is 17.2%.
Net non performing assets excluding acquired stressed assets are at 0.68% of advances (September 30, 2009 Rs.332.2 Cr; 1.71% and March 31 2010 Rs.257.2 Cr; 1.25%).
As at September 30, 2010, the provision coverage ratio is 70.1%. (March 31, 2010 – 58.3%)
As on September 30, 2010, the Bank had 267 bank branches (September 30, 2009 – 230; June 30, 2010 – 262; March 31, 2010 – 249) across 154 locations and 585 ATMs.
Kotak Mahindra Bank won the Best Local Cash Management Bank 2010 by ASiAMONEY and Kotak Wealth Management was adjudged Best Private Bank by Finance Asia Country Awards.
STAND ALONE RESULTS IN FIGURES :
| kotak Mah Bk | 30-Sep-10 | 30-Jun-10 | Dif% 1 | 30-Sep-09 | Dif% 2 |
| Interest on Advances | 77614.03 | 69402.48 | 11.83 | 59035.87 | 31.47 |
| Income on Investments | 23447.55 | 22547.93 | 3.99 | 18452.99 | 27.07 |
| Income on Balances With RBI | 363.48 | 124.83 | 191.18 | 19.58 | 1756.38 |
| Others | 47.19 | 5.1 | 825.29 | 6.36 | 641.98 |
| Interest Earned | 101472.25 | 92080.34 | 10.2 | 77514.8 | 30.91 |
| Other Income | 13932.66 | 13707.29 | 1.64 | 10904.19 | 27.77 |
| Total Income | 115404.91 | 105787.63 | 9.09 | 88418.99 | 30.52 |
| Interest Expended | 47089.18 | 41261.02 | 14.13 | 33867.91 | 39.04 |
| Employees Cost | 16874.34 | 16561.97 | 1.89 | 12798.39 | 31.85 |
| Other Operating Expenses | 18765.94 | 16430.45 | 14.21 | 17329.91 | 8.29 |
| Operating Expenses | 35640.28 | 32992.42 | 8.03 | 30128.3 | 18.3 |
| Operating Profit | 32675.45 | 31534.19 | 3.62 | 24422.78 | 33.79 |
| Provisions | 4550.78 | 5609.48 | -18.87 | 7726.77 | -41.1 |
| Profit before tax | 28124.67 | 25924.71 | 8.49 | 16696.01 | 68.45 |
| Tax Expense | 8654.28 | 7234.38 | 19.63 | 4105.08 | 110.82 |
| Net Profit | 19470.39 | 18690.33 | 4.17 | 12590.93 | 54.64 |
| Face Value.Rs. | 5 | 10 | -50 | 10 | -50 |
| Paid-up Equity | 36670.34 | 34859.44 | 5.19 | 34677.74 | 5.75 |
| Capital Adequacy Ratio | 19.43 | 16.79 | 15.72 | 17.72 | 9.65 |
| Basic EPS | 2.72 | 5.37 | -49.35 | 3.63 | -25.07 |
| Diluted EPS | 2.7 | 5.31 | -49.15 | 3.6 | -25 |
| Gross/Net NPA | 25301.11 | 30816.43 | -17.9 | 51572.64 | -50.94 |
| % of Gross/Net NPA | 0.68 | 1.33 | -48.87 | 1.71 | -60.23 |
| Return on Assets | 0.44 | 0.45 | -2.22 | 0.42 | 4.76 |
| Public Shareholding (%) | 54.21 | 51.83 | 4.59 | 51.6 | 5.06 |
ANNOUNCEMENTS
TO THE EXCHANGE
20-10-2010 Kotak Mahindra Bank Limited has informed the Exchange regarding a press release dated October 20, 2010 titled "Kotak Mahindra Bank announces results; Bank PAT for Q2FY11 up 55% to Rs. 195 cr. Consolidated PAT for Q2FY11 up 21% to Rs. 364 cr" along with Earnings Update - Q2FY11 Results.
20-10-2010 Kotak Mahindra Bank Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Interest earned of Rs. 101472.25 lacs for the quarter ending on 30-SEP-2010 against Rs. 77514.8 lacs for the quarter ending on 30-SEP-2009. Interest expended of Rs. 47089.18 lacs for the quarter ending on 30-SEP-2010 against Rs. 33867.91 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 19470.39 lacs for the quarter ending on 30-SEP-2010 against Rs. 12590.93 lacs for the quarter ending on 30-SEP-2009.
20-10-2010 Kotak Mahindra Bank Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-SEP-2010 as follows: Interest earned of Rs. 144926.57 lacs for the quarter ending on 30-SEP-2010 against Rs. 110597.33 lacs for the quarter ending on 30-SEP-2009. Interest expended of Rs. 60603.92 lacs for the quarter ending on 30-SEP-2010 against Rs. 42641.62 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 36410.79 lacs for the quarter ending on 30-SEP-2010 against Rs. 29976.68 lacs for the quarter ending on 30-SEP-2009.
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