Kotak Mahindra Bank Q4FY22results: Consolidated PAT up 50 pc YoY at Rs 3,892 cr; standalone PAT jumps 65 pc to Rs 2,767 cr

Consolidated PAT for FY22 increased to Rs 12,089 crore from Rs 9,990 crore in FY21 up 21 percent.

Bank's standalone PAT for Q4FY22 was at Rs 2,767 crore, up 65 percent year-on-year.

Kotak Mahindra Bnak said its Net Interest Income (NII) for Q4FY22 increased to Rs. 4,521 crore, from Rs. 3,843 crore in Q4FY21, up 18% and for FY22 increased to Rs. 16,818 crore, from Rs. 15,340 crore in FY21, up 10%.

Net Interest Margin (NIM) was 4.78 % for Q4FY22.

It earned Rs ,697 crore as fees and services for Q4FY22 up 23 percent YoY.

The bank's operating profit for Q4FY22 was Rs. 3,340 crore (Q4FY21: Rs. 2,962 crore), up 13% YoY.

Net Customer additions in Q4FY22 was 2.0 mn against that of 1.1 mn in Q4FY21. Customers as at March 31, 2022 were 32.7 mn (26.0 mn as at March 31, 2021).

Customer Assets, which includes Advances and Credit substitutes, increased by 23% to Rs. 292,481 crore as at March 31, 2022 from Rs. 2,38,838 crore as at March 31, 2021 (Rs. 274,569 crore as at December 31, 2021).

Advances increased by 21% to Rs. 2,71,254 crore as at March 31, 2022 from Rs. 223,670 crore as at March 31, 2021 (Rs. 252,935 crore as at December 31, 2021). Advances grew 7.2% (not annualised) during Q4FY22.

CASA (Current Account Savings Account) ratio as at March 31, 2022 stood at 60.7%.

Average Current deposits grew to Rs. 49,776 crore for FY22 compared to Rs. 39,481 crore for FY21 up 26%. Average Fixed Rate Savings deposits was Rs. 110,988 crore as at March 31, 2022 up 11% (March 31, 2021 Rs. 99,907 crore). Average TD Sweep up 16% from Rs. 20,074 crore for FY21 to Rs. 23,313 crore for FY22.

As of March 31, 2022, COVID-related provisions stood at Rs 547 crore. In accordance with COVID Resolution Framework announced by RBI, the Bank has standard restructured fund-based outstanding of Rs. 417 crore (0.15 percent of Advances).

Under the MSME Resolution Framework, the Bank has standard restructured fund-based outstanding of Rs. 788 crore (0.29% of Advances) as at March 31, 2022.

As on March 31, 2022, GNPA was 2.34% & NNPA was 0.64%. Credit cost on advances for Q4FY22 was 27 bps (annualised) (excluding reversal of COVID provision).

The provision coverage ratio stood at 73.2%. Total provisions (incl specific, standard, COVID-19 related etc.) held as on March 31, 2022 was at Rs. 6,710 cr.

The capital adequacy ratio of the Bank, as per Basel III, as at March 31, 2022 was 22.7% and Tier I ratio was 21.7%.

The Board of Directors of the Bank has recommended dividend of Rs. 1.10 per equity share having face value of Rs. 5, for the year ended March 31, 2022, subject to approval of shareholders.

At the consolidated level, the Return on Assets (ROA) was 2.36% for FY22 (2.16% for FY21).
Consolidated Capital adequacy ratio as per Basel III as at March 31, 2022 was 23.7 % and Tier I ratio was  22.8 %.

Consolidated Capital and Reserves & Surplus as at March 31, 2022 was Rs. 97,134 crore (Rs. 84,836 crore as at March 31, 2021). The Book Value per Share was Rs. 487.
Consolidated Customer Assets grew by 22% from Rs. 2,68,130 crore as at March 31, 2021 to Rs. 327,074 crore as at March 31, 2022.
Total assets managed / advised by the Group as at March 31, 2022 were Rs. 382,504 crore up 18% over Rs. 323,762 crore as at March 31, 2021.

The Relationship Value of the customers of Private Banking, Priority Banking and Investment Advisory was  approximately Rs. 641,000 crore as at March 31, 2022 up 68% from approximately Rs. 382,000 crore as at March 31, 2021.

The Embedded Value (IEV methodology) of Kotak Mahindra Life Insurance as on March 31, 2022 was Rs. 10,679 crore (Rs. 9,869 crore as at March 31, 2021). The Value of New Business (VNB) for FY22 was Rs. 895 crore (Rs. 691 crore for FY21) and the New Business (VNB) Margin for FY22 was 31.1% (28.6% for FY21).