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Kotak profit up on loan growth

Private sector lender Kotak Mahindra Bank on Thursday announced a 27% year-on-year increase in net profit at Rs 416 crore for the quarter ended June against Rs 328 crore last year, driven by higher loan growth.

india Updated: Jul 21, 2011 21:10 IST
HT Correspondent
HT Correspondent
Hindustan Times

Private sector lender Kotak Mahindra Bank on Thursday announced a 27% year-on-year increase in net profit at Rs 416 crore for the quarter ended June against Rs 328 crore last year, driven by higher loan growth.

Net interest income of the bank grew by 18% to Rs 568 crore during the April-June quarter compared to Rs 483 crore in the year-ago period.

First Published: Jul 21, 2011 21:07 IST