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Kotak Mahindra Bank Q3 Profit Grows 20%
January 23, 2018
Private sector Kotak Mahindra Bank said that its net profit for the third quarter grew by 20%, mainly because of the increased interest rate and reduction in the number of non-performing assets.
For the quarter ending in December, the lender’s net profit stood at Rs. 10.53 billion. Last year, its net profit during the same period was Rs. 8.80 billion.
The gross bad loans during the same quarter stood at 2.21% compared to 2.47% during the previous quarter, and 2.42% during the December end quarter last year.
