Kotak Mahindra Bank share price in focus: Shares of Kotak Mahindra Bank, one of India’s leading private sector banks, jumped 4.26% to hit a 10-week high of ₹2,241 apiece in an early trade on Tuesday, July 08, following the release of the June quarter business update, which showed a steady performance in the deposit and lending growth, even as gains in low-cost deposits moderated.
The bank, through an exchange filing on Monday, released its June quarter update, reporting a 14% YoY and 4.2% QoQ growth in lending to ₹4.45 lakh crore. The bank’s loan book at the end of the March quarter stood at 4.27 lakh crore, and the same was at ₹3.90 lakh crore in Q1FY25.
It also reported a healthy 14.6% growth in deposits, reaching ₹5.13 lakh crore. On a sequential basis, deposits were up 2.8% from ₹4.47 lakh crore at the end of March quarter. Average total deposits came in at ₹4.92 lakh crore, rising nearly 13% YoY and 5% sequentially.
The average CASA stood at ₹1.92 lakh crore, reflecting a year-on-year (YoY) growth of 4.2% and a quarter-on-quarter (QoQ) increase of 2.1%. CASA on an end-of-period (EOP) basis declined 2.2% sequentially to ₹2.09 lakh crore, though it rose 7.9% compared to the same period last year.
