The lender's consolidated net profit expanded by 26% year-on-year to reach ₹5,645 crore for the September quarter, propelled by a 25% surge in net advances. Core net interest income climbed 16% even as net interest margins faced slight compression from substantial foreign deposit inflows. Asset quality strengthened notably over the same period, with gross non-performing assets dropping to 1.04%. Meanwhile, judicial directives have ordered global technology firms to immediately remove hundreds of fake profiles posing as the bank's entities.
Key points
Strong core income growth and expanding credit portfolios continue to reinforce positive…: Strong core income growth and expanding credit portfolios continue to reinforce positive institutional outlooks for the lender.
Substantial mobilization of foreign currency deposits led to a minor margin compression o…: Substantial mobilization of foreign currency deposits led to a minor margin compression of 0.23% during the quarter.
Regulatory and judicial mandates are actively targeting widespread fraudulent impersonati…: Regulatory and judicial mandates are actively targeting widespread fraudulent impersonation across multiple prominent social media networks.
Sources checked by our analysis pipeline: 1
Kotak Mahindra Bank shares settled with a 4.3% gain in Thursday’s trade on October 29, closing at R 459 apiece, their highest level since April 2025, amid a broader rally in banking stocks. The rally also marked the stock’s biggest single-day gain in over a year, offering some relief to the lender’s shares, which have been under pressure lately.
Meanwhile, the Delhi High Court has directed major social media platforms, including Meta, Google, Telegram, X, and LinkedIn, to remove hundreds of fraudulent accounts impersonating Kotak Mahindra Bank and Kotak Securities and share details that could help identify the operators with the bank, as per the Business Line.
According to the report, the court also directed the Ministry of Electronics and Information Technology (MeitY) and the Department of Telecommunications (DoT) to issue blocking notifications to internet and telecom service providers against the infringing URLs listed in the annexures to the order.
On Saturday, the bank reported a 26% jump in consolidated net profit for the September quarter at ₹5,645 crore. On a standalone basis, the private sector lender reported a 29%…
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