KOTAK BANK TRADED OVER 2% IN THE AFTERNOON SESSION

Kotak Bank is trading at Rs.2,033.65,up by 47.70 points or 2.40%.It touched intraday high of 2,049.00 and low of 1,998.00.Market cap of this stock was at Rs 401427.68 crore.

Kotak Mahindra Bank announced the launch of its outward forex remittance service, Kotak Remit, on mobile that will allow users to send money abroad directly from their mobile phones.

Kotak Mahindra Bank today reported a net profit of Rs 1,853.5 crore as against Rs 1,595.90 crore, reflecting a growth of 16 per cent on a year-on-year basis.

The lender reported a gross non-performing assets ratio of 2.26 per cent for the reported quarter as against 2.55 per cent in the previous quarter.

CASA ratio as at December 31, 2020 stood at 58.9% compared to 53.7% as at December 31, 2019.

The private sector bank reported a 4.5 per cent sequential growth in advances in the quarter to Rs 2.14 lakh crore.