Kotak Mahindra Bank’s Q2 net advances climbed 24.7% YoY to ₹5.77 lakh crore, while deposits rose 23.2% YoY to ₹6.51 lakh crore, sending the shares down 0.4% to ₹416.50 ahead of the full update.
On a sequential basis, the bank recorded a 12.7% lift in net advances versus the prior quarter, with total deposits up 13.7% and CASA banking deposits up 7.8% YoY, according to the filing.
Average net advances for the quarter stood at ₹5.47 lakh crore, a 22.1% YoY increase and 10.5% QoQ rise, while average total deposits hit ₹6.06 lakh crore, up 18.8% YoY and 8.5% QoQ, as per the update.
The update noted foreign‑currency non‑resident deposits of $5.78 billion – roughly ₹55,344 crore – under RBI’s swap facility, and advances of $1.68 billion (₹16,110 crore) against those deposits through Kotak’s international branches.
In Q1FY27, Kotak posted a 25.6% YoY jump in net profit to ₹4,123 crore, slightly beating the ₹3,910 crore consensus, while net interest income rose 9.2% to ₹7,928 crore, below the ₹8,058 crore estimate, as disclosed in the earlier earnings release.
Despite the solid growth, the bank’s shares have dipped over 6% year‑to‑date and about 3% over the last 12 months, with traders eyeing the next earnings cycle on March 29 for guidance on interest margin trends and asset quality.