OREANDA-NEWS. The Board of Directors of Kotak Mahindra Bank ('The Bank') took on record the unaudited standalone and consolidated results for Q2FY15, at the board meeting held in Mumbai, today.

Kotak Mahindra Bank standalone results

Bank PAT for Q2FY15 increased to 445 cr from 353 cr in Q2FY14 up by 26%

Net Interest Income (NII) for Q2FY15 up 12% to 1,039 cr from 924 cr in Q2FY14.

Advances as on September 30, 2014 were up 20% YoY to 60,948 cr (? 50,609 cr as on September 30, 2013). Without considering CV/CE, the growth in advances was 28% YoY.

Restructured loans considered standard as on September 30, 2014 161.5 cr - 0.26% of net advances

Savings deposits as on September 30, 2014 grew by 39% to 11,693 cr from 8,385 cr as on September 30, 2013.

Deposits as on September 30, 2014 were up 29% YOY to 68,103 cr (? 52,642 cr as on September 30, 2013)

Capital adequacy ratio of the Bank including unaudited profits as per Basel III as on September 30, 2014 is 17.6% and Tier I ratio is 16.6%

The provision coverage ratio on non-performing assets as on September 30, 2014 is 55.8%

Bank had 641 full-fledged branches (502 branches as on September 30, 2013) across 363 locations and 1,159 ATMs

Consolidated results at a glance

Consolidated PAT for Q2FY15 increased to 718 cr from 583 cr in Q2FY14 up by 23%

Consolidated advances up 19% to 81,418 cr as on September 30, 2014 from 68,226 cr as on September 30, 2013. Without considering CV/CE, the growth in advances was 24% YoY.

Consolidated NIM for Q2FY15 stood at 5.0% (Q2FY14 - 4.9%)

Consolidated capital adequacy ratio (CAR) including unaudited profits as per Basel III as on September 30, 2014 is 17.9%. Tier 1 ratio is 17.1%.

Total assets managed / advised by the Group as on September 30, 2014 are 65,657 cr (September 30, 2013 60,450 cr).

Established in 1985, the Kotak Mahindra group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking license from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to become a bank - Kotak Mahindra Bank Limited.

The consolidated balance sheet of Kotak Mahindra group is over 1.34 lakh cr and the consolidated net worth of the Group stands at 20,554 cr (approx USD 3.3 billion) as on September 30, 2014. The Group offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The Group has a wide distribution network through branches and franchisees across India, and international offices in London, New York, Dubai, Abu Dhabi, Mauritius and Singapore.