Notes from Investor Presentation Q1FY25
Consolidated
•PAT: ₹ 7,448 cr •ROE: 22.04% •ROA: 3.87%
Bank
•PAT: ₹ 6,250 cr •NIM: 5.02% •CASA Ratio: 43.4% Subsidiaries
•Kotak Securities:
YoY growth PAT:83%; CashADV:100%
•Kotak AMC:
YoY growth PAT: 71%; Equity AAUM: 61%
Material Financial Updates
•Profit (net of tax) on divestment of stake in Kotak General Insurance (KGI): ₹ 3,013 cr on consolidated and ₹ 2,730 cr standalone basis
•RBI’s Master Direction on Bank’s investment valuation: ₹ 3,414 cr increase in reserves (net of tax) as on 30thJune, 2024 Impact of above is included in figures / ratios computed above, as applicable
•Customer Assets:Up 20% YoY •Avg Deposits: Up 21% YoY •NNPA:0.35%
Customer reach
Bank Customers 5.1 cr
ATM 3279
Group AUM ₹636,311
Update on RBI Supervisory Action
Reserve Bank of India (“RBI”) order of 24th April 2024, directs the Bank to cease and desist:
•Onboarding new customers through the Bank’s online and mobile banking channel
•Issuing fresh Credit Cards.
The order does not impact:
•Servicing and cross-sell of products (excl. new Credit Cards) to the existing customer base through all channels
•On-boarding ofnew customersthroughother than online/mobilebanking channels
Action taken by bank
•External auditor appointed and scope of audit finalized in consultation with the Regulator
•Augmented capacity through onboarding external IT vendors to expedite
compliance
•Remedial action plan are on track
•Constant interaction and update to Regulator on progress
Business & Financial Impact
•Potential financial impact continues to be in line with the initial estimate
•Redeployment of resources to deepen existing relations, improve cross-sell
Divestment of stake in Kotak General Insurance
•Zurich has acquired 70% stake in KGI for ~₹5,560 Cr by way of fresh growth capital (~₹1,460 cr) + secondary acquisition from Bank (~₹4,100 cr)
•KGI post money valuation : ~₹7,940 cr
•KMBL’s total capital infusion in KGI: ₹875 cr
•Post this transaction, KMBL holds 30% stake in KGI and will continue to act as corporate agent of KGI for distribution of general insurance products
Consolidated Results
Standalone
•Q4 FY24 PBT includes: -Interest on income tax refunds: ₹142 cr-Reversal of AIF provision ₹ 157 cr
•Q4 FY24 PAT includes tax credits: ₹200 cr
•Total one off credits in Q4 FY24 PAT: ₹ 426 cr
•Unsecured retail advances (incl. Retail Microcredit) as a % of Net Advances:
•31stMarch, 2024: 11.8%
Kotak life insurance
AMC, AUM AND Geographical presence
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