ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

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

Mumbai (Maharashtra) [India], April 6 (ANI): 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.

ANI Apr 06, 2020 15:40 IST googleads

The private sector lender has a network of 1,539 branches and 2,447 ATMs

Mumbai (Maharashtra) [India], April 6 (ANI): 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. (ANI)

Get the App

What to Read Next

Business

Delhi expected to witness significant rise in electricity demand

Delhi expected to witness significant rise in electricity demand

Delhi is expected to witness another significant rise in electricity demand this summer. According to the State Load Despatch Centre (SLDC), last year, Delhi's peak power demand had clocked 8442 MW. This year, it is likely to cross 9000 MW. The expected peak of over 9000 MW represents an increase of over 300 per cent compared to the 2879 MW recorded in 2002. Current trends suggest that Delhi's peak power demand is likely to cross the 10,000 MW mark by 2028-2029.

Read More
Business

Aarti Industries Limited Secures USD 150 Million Supply

Aarti Industries Limited Secures USD 150 Million Supply

Mumbai (Maharashtra) [India], March 12: Aarti Industries Limited (AIL), a leading global manufacturer of speciality chemicals, has entered into a multi-year supply agreement with a top global agrochemical innovator for the supply of a critical agrochemical intermediate used in crop protection formulations. This agreement elevates the current annual engagement to a structured supply contract through 31st March 2030, with a significant increase in volumes.

Read More
Business

"World's first platform built on top of payments": Razorpay CEO H

Razorpay, on Thursday, announced the launch of Razorpay Agent Studio, a first-of-its-kind platform built on top of payments that allows businesses to deploy autonomous AI agents for operational tasks. The platform aims to automate various business processes, including dispute management, customer recovery, and payment reconciliations, by integrating AI directly into the payment infrastructure.

Read More
Business

Bridging the Tech Divide: How SSGSERV is Redefining White-Label

Bridging the Tech Divide: How SSGSERV is Redefining White-Label

New Delhi [India], March 12: In today's digital economy, enterprises depend heavily on uninterrupted technology infrastructure. As global SaaS platforms and OEM technology providers expand across markets, maintaining reliable customer and technical support has become a growing challenge. Companies are no longer looking for basic call center services but for specialized partners who can manage complex IT environments while maintaining speed, quality and brand consistency.

Read More
Business

Hong Leong Islamic Bank Enters New Era as "HLB Islamic"

Hong Leong Islamic Bank Enters New Era as

Kuala Lumpur [Malaysia], March 12: As a strategic move to refresh and strengthen its core vision, Hong Leong Islamic Bank ("HLB Islamic" or the "Bank") is transitioning to a refreshed consumer-facing brand identity, now known as HLB Islamic, and a strengthened core proposition that approaches financial services not as a series of siloed products and transactions, but as total wealth stewardship through a Shariah-principle-guided life-cycle approach known as Hayat @ HLB Islamic. This evolution is rooted in the Bank's new philosophy, 'Timeless Principles Guiding Tomorrow's Wealth', introduced during its 20th anniversary last December to signal a new chapter in wealth stewardship.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.