Budget 2020

Profit at Kotak Mahindra jumps 35%

Kotak Mahindra Bank on reported a 35% jump in its consolidated net profit for the January-March quarter to ₹2,589.3 crore on core income growth, and pointed out that lending exposure to the lower end of the spectrum in consumer loans is a challenging segment amid the pandemic. On a standalone basis, it reported a 32.8% […]

Budget 2020

Lofty valuations factor in key positives for risk conscious Kotak Bank: Analysts

NEW DELHI: ‘s March quarter earnings missed analysts’ estimates on the profit front led by lower-than-expected growth in net interest income (NII) and higher provisions. Analysts say the private lender has been risk conscious for a while, which has taken a toll on its growth. Analysts believe the stock will closely track growth momentum, which […]

Budget 2020

Kotak Mahindra Bank Q4 preview: Profit may jump 60%; provisions likely to stay high QoQ

NEW DELHI: is expected to report up to 60 per cent year-on-year rise in net profit for the March quarter on a likely drop in provisions, while provisions, too, are expected to remain elevated on a sequential basis. Other incomes may decline up to 70 per cent YoY, various brokerage estimates showed. The growth in […]

Budget 2020

Average deal sizes have been going up for last 3-4 years, says Kotak Investment Banking CEO

FY21 saw 120 deals on the ECM side, raising more than Rs 2,20,000 crore compared with FY20 that had 65 deals raising about Rs 1,40,000 crore, says S Ramesh, MD & CEO, Kotak Investment Banking. How special was FY21 in your view and how are things geared for the next couple of months in FY22?I […]

Budget 2020

Why PSU banks & NBFCs may be a better bet over next 1 year

Incremental investments may go into PSUs as well as smaller private sector banks just to get the alpha going, says Dipan Mehta, Director, Elixir Equities. Barring the post Budget rally when the banks actually led the charge, we have seen stark underperformance from banks. Even the most preferred ones on the street like an ICICI […]

Budget 2020

Kotak Mahindra Bank announces launch of Kotak Remit on mobile

NEW DELHI: on Monday announced the launch of its outward forex remittance service, Kotak Remit, on mobile that will allow users to send money abroad directly from their mobile phones. The outward forex remittance solution is live on the Kotak Mobile Banking App. For the first time, Kotak customers can conveniently transfer money internationally to […]

Budget 2020

Kotak Institutional initiates coverage on SBI Cards with ‘add’

MUMBAI: Kotak Institutional Equities has initiated coverage on SBI Cards and Payment Services with an add rating and target price of Rs 900. The positives of strong revenue growth led by rising and underpenetrated payments play, highly profitable lending book and benefit of a strong parentage that can lower the origination risk are partly offset […]