INSUBCONTINENT EXCLUSIVE:
Kotak Mahindra Bank is slated to announce its financial results for the quarter ended June today.
The private lender is expected to post
over 20 per cent rise in net profit as well as net interest income
K R Choksey Shares and Securities expects that Kotak Mahindra Bank may report 29 per cent year-on-year growth in net profit with 20 per
in focus, besides more disclosure on the life insurance subsidiary
The brokerage also projected robust advances growth of 25 per cent YoY, along with stable net interest margin of over 4 per cent
The stock of the lender was almost flat at Rs 1,401 at around 9.40 am.
Morgan Stanley also estimated a strong loan growth of around 25 per
cent YoY for Kotak Mahindra Bank, with broadly stable margins (4.30 per cent vs 4.35 per cent), to drive 20 per cent growth in net interest
income.
It further believes that asset quality will remain strong and provisions should moderate to around 50 bps against 75 bps last
Morgan Stanley sees 23 per cent annual rise in net profit in Q1 on a standalone basis.
