“That is to tell you that the Board of Administrators of Kotak Mahindra Financial institution have, at their assembly held at this time, inter alia, permitted a proposal to allow the Board of Administrators of the Financial institution to lift funds by means of issuance of Unsecured, Redeemable, Non-Convertible Debentures, on a non-public placement foundation, for an quantity as much as Rs. 10,000 crore,” Kotak mentioned in an change submitting.
The NCDs can be issued in a number of tranches throughout FY 2024-25, topic to shareholder and different approvals, the financial institution mentioned after a board assembly.
Earlier within the day, the lender introduced its December quarter outcomes wherein PAT stood at Rs 3,005 crore, up 8% YoY from Rs 2,792 crore in Q3 FY23.
Its internet curiosity earnings or NII rose 16% YoY to Rs 6,554 crore whereas the online curiosity margin got here in at 5.22%.
Provisions and contingencies surged to Rs 579 crore from Rs 149 crore a 12 months in the past. Pre-provision working revenue elevated 19% YoY to Rs 4,566.21 crore however declined almost 1% sequentially.On the asset high quality entrance, the gross non-performing belongings as a share of whole loans was 1.73% as of December finish in comparison with 1.90% a 12 months in the past, and 1.72% 1 / 4 in the past.Complete advances have been at Rs 3.72 lakh crore as of December finish, 19% greater from the final 12 months. Buyer belongings, which comprise advances and credit score substitutes, have been Rs 4 lakh crore, up 17% YoY.
CASA ratio as of December finish stood at 47.7%. Common present deposits grew to Rs 59,337 crore from Rs 56,372 crore a 12 months in the past. Common financial savings deposits grew to Rs 1.23 lakh crore from Rs 1.18 lakh crore a 12 months in the past.
Following the announcement of quarterly numbers, the inventory ended 2.3% greater at Rs 1,806 on BSE.
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