Kotak Mahindra Bank : Financial Results Q3 FY15

PRESS RELEASE PRESS RELEASE KOTAK MAHINDRA BANK ANNOUNCES RESULTS

Bank PAT for Q3FY15 ` 465 cr up 37% Consolidated PAT for Q3FY15 ` 717 cr up 21%

Mumbai, January 20, 2015: The Board of Directors of Kotak Mahindra Bank ('The Bank') took on record the unaudited standalone and consolidated results for Q3FY15, at the board meeting held in Mumbai, today. Kotak Mahindra Bank standalone results

Bank PAT for Q3FY15 increased to ` 465 cr from ` 340 cr in Q3FY14 up by 37% Net Interest Income (NII) for Q3FY15 up 16% to ` 1,060 cr from ` 913 cr in Q3FY14
Advances as on December 31, 2014 were up 22% YoY to ` 64,641 cr (` 53,149 cr as on
December 31, 2013).
Restructured loans considered standard as on December 31, 2014 ` 159.1 cr - 0.25% of net advances
Savings deposits as on December 31, 2014 grew by 36% to ` 12,354 cr (` 9,106 cr as on
December 31, 2013)
Deposits as on December 31, 2014 were up 34% YoY to ` 73,066 cr (` 54,671 cr as on December
31, 2013)
Capital adequacy ratio of the Bank including unaudited profits as per Basel III as on December 31,
2014 is 17.7% and Tier I ratio is 16.7%
The provision coverage ratio on non-performing assets as on December 31, 2014 is 56.82%
Bank had 661 full-fledged branches (533 branches as on December 31, 2013) across 371 locations and 1,195 ATMs
During the quarter, the Bank announced merger with ING Vysya Bank in an all-stock deal subject to necessary approvals. The shareholders of Kotak Mahindra Bank and ING Vysya Bank have approved the scheme of amalgamation at their respective Extra Ordinary General Meetings held on January 7, 2015. Other approvals are awaited.
The Bank also announced the Group's entry into the General Insurance Business and has received approval from the Reserve Bank of India as well as an in-principle approval from Insurance Regulatory and Development Authority (IRDA). The subsidiary has since been incorporated and is in the process of applying and completing the registration process.

Segmental results breakup:

Segmental PBT - ` cr	Q3FY15	Q3FY14	Q2FY15	FY14
Corporate / Wholesale Banking	338	326	335	1,301
Retail Banking	240	207	210	793
Treasury & BMU	130	(18)	135	176
Unallocated income	-	-	-	3
Total	708	515	680	2,273

Consolidated results at a glance

Consolidated PAT for Q3FY15 increased to ` 717 cr from ` 591 cr in Q3FY14 up by 21% Consolidated advances up 21% to ` 86,058 cr as on December 31, 2014 from ` 71,041 cr as on
December 31, 2013.
Consolidated NIM for Q3FY15 stood at 4.7% (Q3FY14 - 4.9%)
Consolidated capital adequacy ratio (CAR) including unaudited profits as per Basel III as on
December 31, 2014 is 17.9%. Tier 1 ratio is 17.1%
Total assets managed / advised by the Group as on December 31, 2014 are ` 71,404 cr
(December 31, 2013 ` 59,909 cr)
Some of the key consolidated ratios are as under:

As on	Dec 31, 2014	Dec 31, 2013	Mar 31, 2014
Networth (` cr)	21,299	18,455	19,076
Book value per share (`) - Face value ` 5	276.0	239.9	247.6
Net Interest Margin (YTD, annualized)	4.94%	4.88%	4.97%

Details of the entity wise profit after tax are as under:

` cr	Q3FY15	Q3FY14	Q2FY15	FY14
Kotak Mahindra Bank (Standalone)	465	340	445	1,503
Kotak Mahindra Prime	120	123	125	491
Kotak Mahindra Investments	24	11	25	42
Kotak Securities	60	46	66	160
Kotak Mahindra Capital Company	(6)	7	(7)	14
Kotak Mahindra Old Mutual Life Insurance	51	60	52	239
Kotak Mahindra AMC & Trustee Co	(10)	12	(1)	41
International subsidiaries	14	9	13	7
Kotak Investment Advisors	2	7	4	18
Total consolidated profit after tax	720	615	722	2,515
Affiliates, minority interest & other adjustments	(3)	(24)	(4)	(50)
PAT (after minority interest / adjustments)	717	591	718	2,465

About Kotak Mahindra group

Established in 1985, the Kotak Mahindra group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking license from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to become a bank - Kotak Mahindra Bank Limited.
The consolidated balance sheet of Kotak Mahindra group is over ` 1.43 lakh cr and the consolidated net worth of the Group stands at ` 21,299 cr (approx US$ 3.4 billion) as on December 31, 2014. The Group offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The Group has a wide distribution network through branches and franchisees across India, and international offices in London, New York, Dubai, Abu Dhabi, Mauritius and
Singapore. For more information, please visit the company's website at http://www.kotak.com/

For further information, please contact:

Rohit Rao
Kotak Mahindra Bank Phone: [phone] [e-mail]
Jaydeep Raval
Kotak Mahindra Bank Phone: [phone] [e-mail]
Ketan Bondre
Genesis Burson-Marsteller Mobile: [phone] [e-mail]