Kotak Bank posted lower-than-expected NII growth at 8.0% YoY to | 3842 crore, mainly on account of 34 bps YoY and 19 bps QoQ decline in net interest margins. The bank took a hit of ~| 110 crore in NI line for relief on interest on interest. Non-interest income (NII) reported a sharp jump of 31% YoY, 51% QoQ to | 1949 crore, driven by 23% QoQ rise in fee income and treasury gains (PBT level) of | 898 crore vs. | 48 crore QoQ. Cost to income ratio declined ~258 bps YoY with 9.4% QoQ reduction in employee expenses due to lower retirement benefits due to improved interest rates....