He added that the bank is attempting to strike a balance between risk and return due to pressures on the corporate pricing side of the book.
According to Whole Time Director KVS Manian of Kotak Mahindra Bank, overall corporate credit growth in the banking system has not been particularly strong right now because capacity creation has not yet picked up.
After the quarterly results were released on Saturday, Manian told reporters, “Broadly speaking, we are still not seeing very strong capacity creation and therefore loan demand arising out of that.”
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“There is a lot of nonsensical estimating on the lookout. He stated, “We have seen BBB-rated entities receiving money at the same rate as AA-rated entities.”
The private bank reported a profit after taxes of Rs 3,496 crore in the quarter that ended March 31, 2023, up 26% from the previous year’s profit of Rs 2,767 crore.
It saw a 35% increase in its net interest income (NII) to Rs 6,103 crore. From 4.78 percent, the net interest margin (NIM) increased to 5.75 percent.
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The gross non-performing resources (GNPA) remained at 1.78 percent and net NPAs were 0.37 percent. As of March 31, 2023, its net advances were Rs 3,19,861 crore, up from Rs 2,71,254 crore as of March 31, 2022.