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Private sector lender Kotak Mahindra Bank (KMB) reported today a 3 per cent year-on-year (y-o-y) fall in net profit for the quarter ended September at ₹3,253 crore, primarily on account of higher provisions. The bank’s net interest income (NII) or core income was up 4 per cent y-o-y at ₹7,311 crore in Q2, while other income de-grew 4 per cent to ₹2,589 crore. Provisions and contingencies rose 43 per cent y-o-y to ₹947 crore, and operating expenses were at ₹4,632 crore, up 1 per cent on-year. Fresh slippages stood at ₹1,629 crore in Q2, lower on a y-o-y and sequential basis, while recoveries and upgrades stood at ₹688 crore. Write-offs rose to ₹1,099 crore in Q2 versus ₹638 crore in same period last year. Total deposits of the bank grew 14 per cent on-year to ₹5.10 lakh crore, while net advances were up 16 per cent at ₹4.62 lakh crore. (This is a developing story, please check back for updates) Published on October 25, 2025
