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.
Click here to read the full report
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.
For more information please write in to [email protected]
Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.