Kotak Mahindra Bank Ltd.’s loan book expanded faster than deposits in the third quarter of the current financial year.
Net advances rose 16% to Rs 4.8 lakh crore in the October-December period, from Rs 4.14 lakh crore in the corresponding quarter last year, according to provisional business updates disclosed on Monday. On a quarterly basis, it rose nearly 4%.
Total deposit rose 14.6% to Rs 5.43 lakh crore from Rs 4.73 lakh crore last year. Sequentially, it advanced 2.6%.
The faster pace of credit growth relative to deposits led to a rise in the bank’s credit-deposit ratio, a key banking metric showing how much of a bank’s deposits are lent out as loans. The CASA rose nearly 12% year-on-year to Rs 2.24 lakh crore. On a quarterly basis, it was flat.
Kotak Mahindra Bank is yet to announce the date for the board meeting to consider and approve the third quarter financial results. The Mumbai-based lender is the largest private bank in India in terms of assets and market capitalisation.
Shares closed 0.1% lower at Rs 2,190.9 apiece on NSE, ahead of the announcement, compared to a 0.3% decline in the benchmark Nifty 50. The stock has risen 19% in the last 12 months.
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