Kotak Mahindra Bank deposits grow 20% YoY to Rs 2.59 trillion in Q4

Private lender Kotak Mahindra Bank has reported a 20 per cent year-on-year (YoY) rise in its deposit base to Rs 2.59 trillion in the quarter ending March 2020 compared to Rs 2.16 trillion in the same period last fiscal year. On a sequential basis, the deposit base has grown 12 per cent over December 2019.

Advances of the private sector lender reported a growth of 6.7 per cent in Q4 FY20 to Rs 2.2 trillion compared to Rs 2.05 trillion a year ago. Quarter on quarter, the bank reported a growth of 1.3 per cent in advances.

The bank reported deposits and advances figures to the stock exchanges and said the information is subject to statutory audit.

Current and savings accounts (CASA) ratio of the bank stood at 56.2 per cent in the quarter ending March (Q4 FY20), compared to 52.5 per cent in Q4 FY19 and 53.7 per cent in Q3 FY20.

The bank's savings account deposits increased 31 per cent YoY to Rs 1.05 trillion, while current account deposits grew 10.5 per cent.

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