A senior executive from Kotak Mahindra Bank has said on June 6th that this year we are aiming for 20 per cent growth. The credit off take (corporate) in recent past has been slow. But as you see interest rates keep falling and you see some green shoots coming out in economy.
The Bank's Senior Executive Vice President Virat Diwanji has told media-persons that it is clearly a sign of some positive development in the external environment and as a result in the second half of the year they anticipate the demand from the corporate India to be really on the rise.
He has said the corporate credit portfolio of the bank is close to Rs 1,18,000 crore which is one third of the total asset portfolio, on the Net Interest Margin (NIM), he has said it would be about 4.35 to 4.50% and last quarter, the NIM was at 4.35%.
It is also stated that the Uday Kotak-led bank, which have merged with ING Vysya Bank in an Rs 15,000 crore deals on April 1 last year, had posted a consolidated net profit of Rs 2,090 crore, in 2015-16, up from Rs 1,866 crore in the preceding fiscal year.
