Kotak Mahindra Bank on Saturday reported a massive 67 per cent year-on-year jump in standalone net income at Rs 3,452 crore for the June quarter from Rs 2071.15 crore in the year-ago period, buoyed by an overall improvement in performance especially on the margins side that scaled to a near peak.

On a consolidated level, profit, which includes net gains from its subsidiaries in the brokerage/i-banking, ARC, wealth management, insurance businesses and microfinance and NBFC, grew 51 per cent to Rs 4,150 crore, the city-based lender said in a statement.

The key net interest income increased 33 per cent to Rs 6,234 crore, driven by a 5.57 per cent higher net interest margin, which is near its peak, for the reporting quarter as the bank passed on the entire 250 basis points hike by the central bank to its customers while did not reprice the deposits proportionately.

Yes Bank net up 10%

Yes Bank reported a 10.3 per cent year-on-year growth in net profit for the June quarter at Rs 342.52 crore from Rs 310.63 crore amid a big improvement in its asset quality over the previous year.

The private sector lender saw the percentage of gross NPAs declining to 2 per cent from 2.2 per cent in the preceding three months and 13.4 per cent in the year-ago period.

Yes Bank CEO and managing director Prashant Kumar told reporters in an earnings call that provisions for bad loans rose to Rs 360 crore from Rs 175 crore as a large real estate borrower with Rs 400 crore dues became an NPA during the quarter. The bank saw its fresh slippages rising to Rs 1,430 crore from Rs 1,072 crore.

RBL profit rises 43%

RBL Bank on Saturday reported a 43 per cent jump in its June quarter net profit at Rs 288 crore, helped by core income growth. The lender reported a 21 per cent jump in the core net interest income at Rs 1,246 crore on the back of a 21 per cent growth in advances and a 0.48 per cent expansion in net interest margin (NIM) to 4.84 per cent.