Kotak Bank reports 7% fall in Q2 net as bad loans rise
The Free Press Journal|October 27, 2021
Private sector Kotak Mahindra Bank on Tuesday reported about 7% decline in its net profīt to Rs 2,032 crore in second quarter ended September 2021.

The bank had posted net profit of Rs 2,184 crore in the same quarter of the previous fiscal year.

Total income during July September period of 202122. however, grew to Rs 8,408.87 crore, as against Rs 8,252.71 crore in same period of 2020-21, Kotak Mahindra Bank said in a regulatory filing.

Net interest income for Q2FY22 increased to Rs 4,021 crore from Rs 3,897 crore in Q2FY21, up 3%. Net interest margin for the quarter was at 4.45%.

Continue reading your story on the app

Continue reading your story in the newspaper

MORE STORIES FROM THE FREE PRESS JOURNALView All

SIX LIVES SNUFFED OUT IN FIRE

Barely three months after the fire in a 60-storey building, Avighna Park in Parel, another major fire in a 20storey residential building in Tardeo has rattled the city, snuffing out six lives and injuring 24 others.

3 mins read
The Free Press Journal - Mumbai
January 23, 2022

Russia toughens stance on Ukraine

Has further upped the ante by announcing more military drills in the region

1 min read
The Free Press Journal - Mumbai
January 23, 2022

Priyanka-Nick announce arrival of baby girl

The power couple shared the news of welcoming their first child via surrogacy through a post on social media

1 min read
The Free Press Journal - Mumbai
January 23, 2022

No more roadblocks for Chikhaldara Skywalk

At 407 mt, Chikhaldara’s skywalk made of glass and chequered steel plates would be the longest in the country; being developed by Cidco at a cost of Rs 34.34 cr

1 min read
The Free Press Journal - Mumbai
January 23, 2022

Shah visits Kairana

Amit Shah receives a flower from a child during his door-to-door campaign.

1 min read
The Free Press Journal - Mumbai
January 23, 2022

Goodbye, Grandpa of Bengali comics!

At a time when the “onslaught”of Tom and Jerry, MickeyMouse, Lee Falk’s Phantom and Flash Gordon comic strips was heavily felt and was an integral part of newspapers, especially in the ’60s, Narayan Debnath, who passed away earlier this week at the ripe age of 97, was a rare combo of longevity and genius.

3 mins read
The Free Press Journal - Mumbai
January 23, 2022

GOING SOUTH IN SOUTH AFRICA

India's efforts to beat Proteas in their home began with promise before going awry in whimper

3 mins read
The Free Press Journal - Mumbai
January 23, 2022

Biden and Japanese PM agree to counter China

Japan's PM Fumio Kishida (R) talks with US President Joe Biden at a virtual summit from prime minister's office in Tokyo on Friday.

1 min read
The Free Press Journal - Mumbai
January 23, 2022

Australian Open: Medvedev, Halep enter fourth round

Daniil Medvedev reached the fourth round for the fourth straight year at Melbourne Park with a 6-4, 6-4, 6-2 win over Botic van de Zandschulp.

1 min read
The Free Press Journal - Mumbai
January 23, 2022

62% OF PARENTS OPPOSE SCHOOL REOPENING

LocalCircles survey states 16% of parents across Maharashtra are already sending kids to schools; another 11% will send kids for in-person classes

1 min read
The Free Press Journal - Mumbai
January 23, 2022