Kotak Mahindra Bank under the able guidance of a strong leadership team adopts the best risk weighted growth strategy in the industry
Kotak Mahindra Bank (KMB) delivered in line performance that left little room for complaint.
Key positives
- Business momentum remains strong: Advances grew 23.5% year-on-year driven by corporate as well as retail segments. This is the sixth consecutive quarter of over 20% growth and the management feels confident of maintaining this momentum
KMB is gaining market share. In the past one year, its incremental market share in advances and deposits stood at 3.1% and 3.3%, respectively, much higher than its absolute share
- The bank is witnessing a return of loan pricing power and has experienced a 13 basis points sequential improvement in interest margin to 4.33%. The outlook on margin is positive thanks to the waning competitive intensity and the management’s relentless focus on reducing funding costs
- The deposit profile is extremely impressive with the bank having industry leading CASA (low cost current and savings account) ratio of 50.7%. In the quarter under review, while overall deposits grew by 18.2%, CASA grew much faster at 28.5%
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