NEW DELHI: Kotak Mahindra Bank on Monday reported a net profit of 15 in keeping with cent in the fourth quarter ended on March 31. The non-public lender's net profit in This autumn stood at Rs 1,124 crore towards Rs 976 crore reported ultimate 12 months in the same period.
In terms of year-on-year (yoy) net profit, Kotak Mahindra Bank's income rose over 19 in keeping with cent (Rs 4,084 crore) in FY18 towards Rs three,412 crore in FY17.
The This autumn running profit of the bank stood at Rs 2,018 crore from Rs 1,702 crore in the same period ultimate 12 months.
Net NPA or non-performing asset of Kotak Mahindra Bank cooled to 2.22 in keeping with cent (Rs 1,665) from 2.31 in keeping with cent (Rs 1,728) in the December quarter.
Also, the lender's board of administrators has recommended dividend of 70 paise in keeping with percentage.
The bank in a commentary to exchanges said that "Shankar Acharya, part time Chairman, will retire on July 19, 2018 as he is not seeking reappointment. He has been director of the bank since May 2003 and part time chairman since July 2006."
The board appointed Prakash Apte (63) as section time Chairman of the bank, submit Acharya's retirement, for a period up to December 31, 2020. Apte is a non-executive Independent Director of the bank since March 2011 and likewise Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited.
In terms of year-on-year (yoy) net profit, Kotak Mahindra Bank's income rose over 19 in keeping with cent (Rs 4,084 crore) in FY18 towards Rs three,412 crore in FY17.
The This autumn running profit of the bank stood at Rs 2,018 crore from Rs 1,702 crore in the same period ultimate 12 months.
Net NPA or non-performing asset of Kotak Mahindra Bank cooled to 2.22 in keeping with cent (Rs 1,665) from 2.31 in keeping with cent (Rs 1,728) in the December quarter.
Also, the lender's board of administrators has recommended dividend of 70 paise in keeping with percentage.
The bank in a commentary to exchanges said that "Shankar Acharya, part time Chairman, will retire on July 19, 2018 as he is not seeking reappointment. He has been director of the bank since May 2003 and part time chairman since July 2006."
The board appointed Prakash Apte (63) as section time Chairman of the bank, submit Acharya's retirement, for a period up to December 31, 2020. Apte is a non-executive Independent Director of the bank since March 2011 and likewise Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited.
Kotak Mahindra Bank Q4 net profit up 15%; appoints new part time chairman
![Kotak Mahindra Bank Q4 net profit up 15%; appoints new part time chairman]()
Reviewed by Kailash
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May 01, 2018
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