A recent press report said that Kotak Mahindra Bank which is a Private sector bank has reported a growth in its net profit to about 18.8 per cent to Rs.432.58 crore for the second quarter ended September this fiscal year which was Rs.364.11 crore during the corresponding period last year. The total income of the bank during that quarter fell to Rs. 2, 740.84 crore from Rs. 2, 947.21 crore.
Reports said that the net profit of the bank has increased by 22.68 per cent to Rs. 848.68 crore during the first six months of the current fiscal from Rs. 691.80 crore during the corresponding period of the last fiscal year. During the period April to September the total income of the bank increased to Rs.5,450.48 crore from Rs.5,275.88 crore during the same period last year.
Kotak Mahindra Bank Limited is a one stop shop for all banking needs. The bank offers personal finance solutions of every kind from savings accounts to credit cards, distribution of mutual funds to life insurance products.
Kotak Mahindra Bank offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans. Its loan portfolio includes home loans, personal loans, car loan, loan against property etc. The bank has one of the largest and most respected Wealth Management teams in India. It offers the widest range of solutions to high net worth individuals, entrepreneurs, business families and employed professionals.