Kotak Mahindra Bank’s profits up 27% in Q2

It has over 36.6 million customers as of end-September.

Kotak Mahindra Bank’s profits after tax rose 27% to ₹2,581 crore in Q2, compared to ₹2,071 crore earned in Q1 and ₹2,032 crore a year ago, according to the bank’s latest financial report.

Net interest income or NII rose to ₹5,099 crore. This is 27% higher than the ₹4,021 crore in Q2. 

Fees and services totalled ₹1,760 crore, which is 24% higher than the same quarter last fiscal year. Operating profit was ₹3,567 crore, compared to ₹3,120 crore last year.

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Net interest margin was 5.17% for Q2.

As of 30 September, Kotak Mahindra Bank said that it has over 36.6 million customers, higher than the 28.5 million customers it has as of end-September 2021.