Kotak Mahindra Bank has registered a 67-per cent growth
in its net profit for the second quarter ended 30 September
2003 at Rs 19.84 crore, up from Rs 11.88 crore in the
corresponding period of the previous year.
figures are not strictly comparable since the non-banking
finance company (NBFC) was converted into a bank in March
2003. The new bank will focus on lending as the thrust
area and foresees a 40-per cent growth in disbursements
by the yearend.
The net profit
of the Kotak group (Kotak Mahindra Capital Co, Kotak Securities,
Kotak Mahindra Primus, Kotak Mahindra AMC & Trustee
and Om Kotak Mahindra) for the second quarter is at Rs
38.94 crore (Rs 21.77 crore).
bank collected fresh deposits of Rs 650 crore in the first-half
year, 90 per cent of which are term deposits. Apart from
this, it also has liabilities such as Rs 150 crore of
fixed deposits transferred from the NBFC, Rs 350 crore
of certificates of deposits and so on.
bank has advances of Rs 1,550 crore, 85 per cent of which
is retail. The break-up of advances is as follows: commercial
vehicle finance: Rs 875 crore; personal loans: Rs 238
crore; home loans: Rs 25 crore; corporate loans: Rs 236
crore; SME and miscellaneous: Rs 175 crore.