Kotak Mahindra Bank Q3FY18: CASA deposits increased 34% YoY; Buy | Kotak Mahindra Bank Q3FY18 | IndiaNotes.com

CASA deposits increased from  Rs.  627830  Mn  in  Q3  FY17  to  Rs  843860  Mn  in December  quarter  FY18,  jump  of  34%  YOY.  Other income  or non interest revenue accounting 17% of the total  income  of  the  bank  rose  14%  YOY  and  stood  at Rs.  10398  Mn in current Q3  FY18.  Advances  moved at a higher rate of 23% than deposits  growing at  a lower rate  of  at  21%  YOY.  Quarterly  growth  was  better  for deposits  in  the  current  quarter  at  9%  whereas advances  rose  sequentially  by  just  4%.  Kotak Mahindra  Bank  is  part  of  Kotak  Mahindra  Group, leading  financial  services  conglomerates  with  a  CAR of  17.90%  &  branch  network  of  1375  across  the country  and  is poised for higher growth as one of the major  players  in  Indian  banking  industry.  Thus  we recommend  BUY  for  the  stock  for  medium  and  long term investment with a target price of Rs. 1450.

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About Suhani Adilabadkar

Suhani Adilabadkar is a Research Analyst registered with SEBI ((INH200003240)) She has done PGDBA (Finance), MS (Finance) and a Fellowship from Insurance Institute of India. She maintains a blog where she publishes research reports across industries – oasisfundamentals.blogspot.in.

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