Kotak Mahindra Bank Q2 Preview: NII likely to surge, NIM may come under pressure
According to a CNBC-TV18 poll, it is anticipated that the Net Interest Income (NII) for Q2FY24 will show a robust growth of 22.5%, reaching Rs 6,249.3 crore, as compared to Rs 5,099.4 crore for the same quarter in the previous year.
Kotak Mahindra Bank is scheduled to announce its earnings for the quarter ended September 2023 (Q2FY24) on Saturday, October 21, 2023.
According to a CNBC-TV18 poll, it is anticipated that the Net Interest Income (NII) for Q2FY24 will show a robust growth of 22.5%, reaching Rs 6,249.3 crore, as compared to Rs 5,099.4 crore for the same quarter in the previous year.
Furthermore, the Profit After Tax (PAT) is expected to increase by 21.2%, reaching Rs 3,124.2 crore, compared to Rs 2,580.7 crore in Q2FY23.
The bank is likely to report strong loan growth, although there is expected to be pressure on its Net Interest Margin (NIM), with analysts predicting a sequential decline of 15 basis points.
As per Nomura's projections, slippages are expected to be around Rs 1,250 crore, compared to Rs 1,205 crore in the previous quarter.
Motilal Oswal estimates that the gross Non-Performing Asset (NPA) ratio will remain steady at 1.7% on a quarter-on-quarter basis.
Recently, Uday Kotak resigned from his position as the Managing Director and CEO of Kotak Mahindra Bank. As an interim measure, Dipak Gupta, the Joint Managing Director, assumed the responsibilities of Managing Director and CEO until December 31, 2023.
Over the past six months, the Kotak Mahindra Bank stock has given a negative return of approximately 6.5%. However, on Friday, the stock saw a rally of 1.81%, closing at Rs 1,770 per share.
First Published: Oct 20, 2023 9:13 PM IST
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