Kotak Mahindra Bank Q2 Results 2023 Net profit 10%, NIIs to rise 20%

In this article, we will talk about the Kotak Mahindra Bank Q2 Results Preview. Kotak Mahindra Bank is one of the famous banks. It is an Indian banking and financial services company and it’s headquartered in Mumbai. It presents banking products and financial services. The bank is ready to declare its July- September quarter results for fiscal 2023-24 today, 21 October 2023. Since the news has come on the internet it went viral. Now many people are super curious to know about the whole information about the news. In this article, we will try to give complete information about the news.

Kotak Mahindra Bank Q2 Results 2023

The highest private sector lender has been predicted to report a healthy quarter helped by higher net profit income (NIIs) strong loan evolvement and net profit, as per the calculations by critics and leading brokerage houses. This is the first quarterly rating results since the bank’s managing director (MD) and chief executive officer (CEO) Uday Kotak quit from his job in September, three months ahead of schedule, and expired on the rod to Dipak Gupta-who has been currently working as interim CEO till 31 December 2023. Scroll down to the next page for more information about the news.

Kotak Mahindra Bank Q2 Forecast: Growth estimates by brokerages

According to the report, Domestic brokerage house Prabhudas Lilladher assesses that the bank’s net earnings will increase by roughly 12.7% to 2,907 crore in the September quarter, reaching 2,580 crore in the year-ago period. NIIs are anticipated to grow by about 20% to 6,107 crore from 5,099 crore in the connected period of the previous year. We expect loan development to be powerful at 5% sequentially. But margins could decrease sharply by 33 basis points sequentially to 5.18 % because of more increased EBLR linked portfolio. You are on the right page for more information about the news, so please read the complete article.

Also Read:  IMF Says China's GDP To Decline By 1.6%: IMF downgrades growth forecasts for China

Asset quality is predicted to enhance with gross non-performing investments (GNPAs) decreasing by 7 bps,” said Prabhudas Lilladher. Analysts at StoxBox stated that the bank’s loan book will see good growth in credit off-take as the demand stays robust across all retail assets, including inexpensive housing, SME, CV, passenger vehicles, and even unsecured parts. On 19 October private lender got approval from the Reserve Bank of India to acquire a 100% stake in non-banking finance company Sonata Finance Pvt Ltd for 537 crore. On Friday shares settled 1.80% elevated at 1,769.55 per on the BSE. Here we have shared all the information that we had. Stay tuned to us for more updates.

Mark
Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.