Standalone Financial Performance

Profitability:

  • Standalone Profit After Tax (PAT) for Q2FY27 was ₹4,212 crore, up 29% Year-over-Year (YoY) from ₹3,253 crore in Q2FY26 and up 2% Quarter-over-Quarter (QoQ) from ₹4,123 crore in Q1FY27.
  • Net Interest Income (NII) for Q2FY27 was ₹8,459 crore, up 16% YoY from ₹7,311 crore in Q2FY26 and up 7% QoQ from ₹7,928 crore in Q1FY27.
  • Net Interest Margin (NIM) for Q2FY27 was 4.31%, compared to 4.54% in Q2FY26 and 4.53% in Q1FY27. The moderation was largely due to FCNR(B) deposit mobilization.
  • Fees and services income for Q2FY27 was ₹2,926 crore, up 21% YoY from ₹2,415 crore in Q2FY26 and up 17% QoQ from ₹2,500 crore in Q1FY27.
  • Operating profit for Q2FY27 was ₹6,382 crore, up 21% YoY from ₹5,268 crore in Q2FY26 and up 4% QoQ from ₹6,131 crore in Q1FY27.
  • Operating expenses for Q2FY27 were ₹5,271 crore, up 14% YoY from ₹4,632 crore in Q2FY26 and up 3% QoQ from ₹5,135 crore in Q1FY27.
  • Cost to assets ratio improved to 2.40% for Q2FY27 from 2.67% in Q2FY26 and 2.66% in Q1FY27.
  • Cost of funds was 4.52% for Q2FY27, compared to 4.70% for Q2FY26 and 4.46% for Q1FY27.

Provisions and Asset Quality:

  • Provisions for Q2FY27 stood at ₹803 crore, down 15% YoY from ₹947 crore in Q2FY26 and up from ₹668 crore in Q1FY27.
  • Annualised credit cost for Q2FY27 was 0.35%, compared to 0.79% for Q2FY26 and 0.46% for Q1FY27.
  • Slippages for Q2FY27 decreased to ₹1,230 crore, down 24% YoY from ₹1,629 crore in Q2FY26.
  • Gross Non-Performing Assets (GNPA) as at September 30, 2026, were 1.04%, and Net Non-Performing Assets (NNPA) were 0.24%. This compares to GNPA of 1.39% and NNPA of 0.32% as at September 30, 2025.
  • Provision Coverage Ratio as at September 30, 2026, was 78%, compared to 77% as at September 30, 2025.

Balance Sheet and Business Growth:

  • Net Advances as at September 30, 2026, were ₹577,295 crore, up 25% YoY from ₹462,688 crore as at September 30, 2025. Excluding loans provided against FCNR(B) deposits and the loan portfolio acquired from Kotak Mahindra Investments Ltd (KMIL), net advances grew by 19% YoY.
  • Customer Assets (comprising Advances including IBPC & BRDS and Credit Substitutes) grew to ₹626,801 crore as at September 30, 2026, up 23% YoY from ₹509,399 crore as at September 30, 2025.
  • Total period-end Deposits for Q2FY27 were ₹651,491 crore, up 23% YoY from ₹528,776 crore for Q2FY26. Excluding FCNR(B) deposits, total deposits grew by 13% YoY.
  • Average Total Deposits for Q2FY27 were ₹606,234 crore, up 19% YoY from ₹510,138 crore for Q2FY26.
  • Average Current Deposits for Q2FY27 were ₹82,026 crore, up 17% YoY from ₹70,220 crore for Q2FY26.
  • Average Fixed-rate Savings Deposits for Q2FY27 were ₹129,731 crore, up 14% YoY from ₹113,894 crore for Q2FY26.
  • Average Term Deposits for Q2FY27 were ₹379,765 crore, up 22% YoY from ₹311,889 crore for Q2FY26.
  • CASA ratio as at September 30, 2026, was 38.2% (42.3% as at September 30, 2025). Excluding FCNR(B) deposits, the CASA ratio was 41.8%.
  • Credit to Deposit ratio as at September 30, 2026, was 88.6% (87.5% as at September 30, 2025).
  • The Bank mobilized FCNR(B) deposits aggregating ~₹55,344 crore and provided loans aggregating ~₹16,110 crore through its international branches during the quarter.

Capital and Returns:

  • Capital Adequacy Ratio (Basel III) as at September 30, 2026, was 21.9%, and the CET1 ratio was 21.4%.
  • Annualised Return on Assets (ROA) for Q2FY27 was 1.92%.
  • Annualised Return on Equity (ROE) for Q2FY27 was 11.65%.
  • Customers as on September 30, 2026, were 5.1 crore.

Consolidated Financial Performance

Profitability:

  • Consolidated PAT for Q2FY27 was ₹5,645 crore, up 26% YoY from ₹4,468 crore in Q2FY26 and up 3% QoQ from ₹5,480 crore in Q1FY27.
  • PAT contributions from key subsidiaries for Q2FY27 were as follows:
  • Kotak Securities: ₹348 crore (₹345 crore in Q2FY26; ₹533 crore in Q1FY27)
  • Kotak Asset Management & Trustee Company: ₹287 crore (₹258 crore in Q2FY26; ₹399 crore in Q1FY27)
  • Kotak Mahindra Prime: ₹251 crore (₹246 crore in Q2FY26; ₹354 crore in Q1FY27)
  • Kotak Mahindra Life Insurance: ₹198 crore (₹49 crore in Q2FY26; ₹336 crore in Q1FY27)
  • Kotak Mahindra Investments: ₹135 crore (₹120 crore in Q2FY26; ₹113 crore in Q1FY27)
  • Kotak Alternate Asset Managers: ₹87 crore (₹104 crore in Q2FY26; ₹126 crore in Q1FY27)
  • Kotak Mahindra Capital: ₹80 crore (₹60 crore in Q2FY26; ₹89 crore in Q1FY27)

Assets and Networth:

  • Consolidated Customer Assets grew to ₹699,250 crore as at September 30, 2026, up 21% YoY from ₹576,339 crore as at September 30, 2025.
  • Consolidated Customer Assets Under Management grew to ₹814,118 crore as at September 30, 2026, up 8% YoY from ₹756,964 crore as at September 30, 2025.
  • Total Domestic Mutual Fund AUM increased by 10% YoY to ₹615,679 crore as at September 30, 2026.
  • Consolidated Networth as at September 30, 2026, was ₹194,706 crore.
  • Book Value per Share increased to ₹196 as at September 30, 2026, up 16% YoY from ₹169 as at September 30, 2025.

Capital and Returns:

  • Annualised Consolidated Return on Assets (ROA) for Q2FY27 was 2.10%.
  • Annualised Consolidated Return on Equity (ROE) for Q2FY27 was 11.70%.
  • Consolidated Capital Adequacy Ratio (Basel III) as at September 30, 2026, was 22.4%, and the CET1 ratio was 22.1%.
  • Consolidated Average Liquidity Coverage Ratio for Q2FY27 was 137.4%.

Other Information

The financial results are unaudited. The financial statements of Indian subsidiaries (excluding insurance companies) and associates are prepared as per Indian Accounting Standards. The financial statements of subsidiaries located outside India are prepared in accordance with accounting principles generally accepted in their respective countries. For consolidation, the results are in accordance with Indian GAAP.

The Bank had a national footprint of 2,327 branches and 2,673 ATMs (including cash recyclers) and branches in GIFT City and DIFC (Dubai) as of September 30, 2026.