Kotak Mahindra customer deposits jump 20 pc in FY20 at Rs 2.58 lakh crore

Kotak Mahindra Bank said on Monday its customer deposits jumped 19.6 per cent in the financial year 2019-20 to Rs 2.58 lakh crore from Rs 2.16 lakh crore year-on-year.

Mumbai (Maharashtra) [India], April 6 : Kotak Mahindra Bank said on Monday its customer deposits jumped 19.6 per cent in the financial year 2019-20 to Rs 2.58 lakh crore from Rs 2.16 lakh crore year-on-year.

At the end of Q3 FY20, customer deposits were Rs 2.31 lakh crore. Current deposits totalled Rs 43,000 crore in FY20, up 10.5 per cent from Rs 38,901 crore a year ago.

Savings deposits moved up dramatically to Rs 1.04 lakh crore, up 31.3 per cent from Rs 79,685 crore in the same period. At the end of Q3 FY20, savings deposits stood at Rs 91,729 crore.

The CASA (current account saving account) ratio changed from 52.5 per cent in FY19 to 56.2 per cent in FY20.

On the other hand, net advances in FY20 moved up 6.7 per cent to Rs 2.19 lakh crore from Rs 2.05 lakh crore in FY19 and Rs 2.16 lakh crore at the end of the third quarter ended December 2019.

The private sector lender had reported a standalone profit after tax of Rs 1,596 crore during the third quarter of the previous financial year (Q3 FY20), up 24 per cent on a year-on-year basis.

( With inputs from ANI )