Kotak Mahindra Bank Ltd. share price target

Given the strong loan book growth supported by increasing customer acquisition, a solid balance sheet and improved asset quality, we reiterate our BUY rating on the stock with a rolled forward target price of Rs. 2,208 based on 3.5x FY24E BVPS. Margins improve as cost of funds decline In Q3FY22, the Bank reported a Net Interest Income of Rs. 5,707cr registering a healthy growth of 13.8% YoY, on the back of lower cost of funds leading to a lower interest expense of Rs. 2,919cr (6.5% YoY). Net Interest margin (NIM) stood at 4.62% (vs....

We maintain our BUY rating with a revised target price of Rs 2,400 (SOTP basis).

Growth momentum continues to be robust along with higher opex for customer acquisition and investment in tech. KMB's Q3 earnings of Rs21.31bn (PLe: R20.46bn) were marginally higher along with decent NII growth of 12% YoY & provision write back, while other income saw a minor blip due to MTM Provisioning on investment and higher other opex growth. Tailwinds from lower cost of funds continue, while loan...

Kotak Mahindra Bank (KMB) reported superlative 3QFY22 results with the key pointers being: a) profitability (PAT inclined 5% sequentially) on the back of strong NII (up 8% QoQ) and provision write-back, b) PPOP lagged because of MTM losses and higher operating expenses (C/I: 53%...

Higher operating expenses (36.8% YoY) outweighed the lower provisions and relatively lower taxes, thereby bringing down PAT to Rs. 2,989cr (1.4% YoY). COVID-19 provision remained at Rs. 1,279cr with...

Kotak Mahindra Bank (KMB) reported above par 2QFY22 results with the key pointers being: a) profitability (PAT inclined 24% sequentially) pulled up because of higher other income (up 15% QoQ) and lower provisioning, b) GNPA/NNPA ratio moderation to 3.19%/1.06%, c) revisiting...

We revise our rating to Buy from Hold with revised target price of Rs 2,475 (SOTP basis).

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Kotak Mahindra Bank (KMB), on a standalone basis, reported -7% decline in Net Profit to Rs 2032.01 crore in the quarter ended September 2021 (Q2FY2022) over the corresponding quarter of last year. The bank has exhibited healthy improvement in asset quality, but net interest margins (NIMs) eased in Q2FY2022. NIMs of the bank have moderated to 4.45% in...