Kotak Mahindra Bank (KMB) reported healthy Q1FY24 PAT at INR 34.5bn (~5% beat, led by higher other income) with RoA at 2.8%. Deposit growth jumped sharply to 6% QoQ though entirely from term deposits (up 15% QoQ) while CASA declined. There was a substantial rise in slippages / credit costs, which was partly due to higher share of unsecured loans (now at 10.7% vs 7.9% YoY).