Kotak Mahindra Bank Ltd. benchmarking: Performance to industry peers

Financial

	Kotak Mahindra Bank	Axis Bank	AU Small Fin. Bank
Operational Metrics
Asset Management
5 Yr AUM CAGR - Mutual Funds	20.33 %	12.51 %	n/a
% of AUM in equity fund	58.72 %	56.68 %	n/a
AUM - Mutual Funds	591184.94 Crs	356134.91 Crs	n/a
Banks
Cost To Income Ratio	46.7 %	47.1 %	57.9 %
Fresh Slippages - Quarterly	1018.0 Crs	4709.0 Crs	659.0 Crs
Credit Deposit Ratio	86.6 %	92.34 %	80.0 %
Net Interest Margin	4.67 %	3.73 %	5.96 %
Gross NPA	1.2 %	1.23 %	n/a
Net NPA	0.25 %	0.37 %	n/a
CASA Ratio	43.3 %	40.0 %	28.0 %
CASA vs Liabilities	31.66 %	28.32 %	24.63 %
Capital to Risks Assets Ratio (CRAR)	23.0 %	16.42 %	18.7 %
Tier I Capital	22.1 %	14.38 %	16.9 %
Tier 2 Capital	0.9 %	2.04 %	1.8 %
General Insurance
Yield On Total Investments - General Insurance	7.7 %	n/a	n/a
Float	1595.63 Crs	n/a	n/a
Combined Ratio	131.0 %	n/a	n/a
Monthly Gross Direct Premium Income (GDPI)	193.72 Crs	n/a	n/a
Risk Retention Ratio	84.0 %	n/a	n/a
Life Insurance
Commission Ratio - Life Insurance	10.06 %	n/a	n/a
Value Of New Business Margin (VNB)	25.0 %	n/a	n/a
Management Expense Ratio - Life Insurance	24.28 %	n/a	n/a
New Business Performance - Life Insurance	2419.02 Crs	n/a	n/a
AUM - Life Insurance	102138.0 Crs	n/a	n/a
Claim Settlement Ratio	99.63 %	n/a	n/a
Embedded Value	17612.0 Crs	n/a	n/a
61 Month Persistency Ratio	52.74 %	n/a	n/a
13 Month Persistency Ratio	82.38 %	n/a	n/a
NBFC
Cost of Borrowing	4.45 %	5.06 %	6.49 %
Financials
5 yr Average ROE	14.13 %	12.83 %	21.88 %
5yr average Equity Multiplier	5.66	9.73	8.05
5yr Average Asset Turnover Ratio	0.12	0.08	0.13
5yr Avg Net Profit Margin	20.05 %	14.59 %	21.11 %
5yr Avg Net Profit Margin	20.05 %	14.59 %	21.11 %
5yr CAGR Net Profit	17.24 %	31.28 %	22.55 %
5yr CAGR Sales	13.64 %	14.87 %	64.84 %
5 yr CAGR PPOP	15.44 %	13.18 %	n/a
Price to Book	2.07	1.82	3.54
P/E	19.49	14.8	30.6
Shareholdings
Promoter Holding	25.87 %	8.14 %	22.76 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.08 %	-0.02 %	-2.78 %
Change in Mutual Fund Holding (3 Yrs)	12.58 %	10.48 %	11.69 %

Business

	Kotak Mahindra Bank	Axis Bank	AU Small Fin. Bank
Segment Break-Up	Segment Break-Up Consumer Finance 29.89 Insurance 24.11 Corporate Banking 20.87 Treasury Operations 11.28 Broking 4.05 Auto Loans 3.76 Asset Management 3.15 Advisory 0.97 Corporate/Wholesale Banking 0 Treasury 0 Wholesale banking 0 Retail banking 0 Others 1.92	Segment Break-Up Treasury Operations 0 Broking 0 Insurance 0 Advisory 0 Corporate Banking 0 Treasury Operations 13.51 Asset Management 0 Consumer Finance 0 Corporate Banking 22.08 Wholesale banking 0 Auto Loans 0 Retail banking 0 Others 64.41	Segment Break-Up Treasury Operations 0 Broking 0 Insurance 0 Advisory 0 Corporate Banking 0 Treasury Operations 13.23 Asset Management 0 Consumer Finance 0 Corporate/Wholesale Banking 0 Corporate Banking 9.77 Auto Loans 0 Consumer Finance 74.15 Others 2.85
Loan Break-Up	Loan Break-Up Home loans 28.89 Corporate Banking 22.6 Business Banking 10.08 Commercial Vehicles 8.92 SME 7.94 Agricultural 5.28 Consumer Durable 5.0 Tractor finance 3.89 Small & Medium Enterprises (SME) loans 2.47 Consumer Bank 0 Auto loans 0 Vehicle Loans 0 Housing 0 Trade 0 Commercial Real Estate 0 Non-banking financial companies (NBFCs) 0 Infrastructure 0 Basic Metal & Metal Products 0 Chemical & Chemical products 0 Agriculture and allied activities 0 Non Priority Sector 0 Priority Sector 0 Others 4.93	Loan Break-Up Consumer Bank 0 Housing 22.52 Tractor finance 0 Auto loans 5.81 Infrastructure 5.13 Business Banking 0 Chemicals 2.58 Corporate Banking 0 NBFC 3.79 Small & Medium Enterprises (SME) loans 0 Home loans 0 SME 0 Commercial Vehicles 0 Trading 5.76 Metals 2.79 Non Priority Sector 0 Agricultural 10.25 Commercial Real Estate 3.53 Priority Sector 0 Consumer Durable 0 Agricultural 0 Auto loans 0 Others 37.84	Loan Break-Up Consumer Bank 0 Housing 0 Tractor finance 0 Vehicle Loans 0 Infrastructure 0 Business Banking 0 Chemical & Chemical products 0 Corporate Banking 0 Non-banking financial companies (NBFCs) 0 Small & Medium Enterprises (SME) loans 0 Home loans 0 SME 0 Commercial Vehicles 0 Trade 0 Basic Metal & Metal Products 0 Non Priority Sector 39.39 Agriculture and allied activities 0 Commercial Real Estate 0 Priority Sector 60.61 Consumer Durable 0 Agricultural 0 Auto loans 0
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0 West Bengal 0 Uttar Pradesh 0 Punjab 0 Andhra Pradesh 0 Gujarat 0 Kerala 0 Tamil Nadu 0 Karnataka 0 Rajasthan 0 Delhi 0 Maharashtra 0	Location Wise Break-Up West Bengal 0 Delhi 0 Andhra Pradesh 0 India 97.75 Rest of the World 2.25 Rajasthan 0 Maharashtra 0 Punjab 0 Kerala 0 Gujarat 0 Tamil Nadu 0 Karnataka 0 Uttar Pradesh 0	Location Wise Break-Up West Bengal 0 Delhi 5.0 Andhra Pradesh 3.0 India 0 Rest of the World 0 Rajasthan 25.0 Maharashtra 16.0 Punjab 5.0 Kerala 0 Gujarat 12.0 Tamil Nadu 2.0 Karnataka 2.0 Uttar Pradesh 3.0 Others 27.0
Operating Profit Break-Up	Operating Profit Break-Up Corporate Banking 30.21 Treasury Operations 22.6 Consumer Finance 21.99 Asset Management 8.96 Broking 5.98 Insurance 4.22 Auto Loans 3.12 Lending 2.03 Advisory 0.89 Treasury 0	Operating Profit Break-Up Treasury Operations 0 Broking 0 Insurance 0 Advisory 0 Corporate Banking 0 Treasury Operations 10.51 Asset Management 0 Consumer Finance 0 Lending 0 Auto Loans 0 Others 89.49	-
Borrowings Break-Up	Borrowings Break-Up Borrowings in India- Other Institutions and Agencies 68.74 Borrowings in India- Other Banks 12.79 Reserve Bank of India 11.14 Borrowings in India- Other Banks 7.34 Financial Institutions & Agencies 0 Banks 0 Borrowings outside India 0 Reserve Bank of India 0	Borrowings Break-Up Reserve Bank of India 0 Financial Institutions & Agencies 76.3 Banks 7.38 Borrowings in India- Other Banks 0 0 Borrowings outside India 16.32	Borrowings Break-Up Reserve Bank of India 0 Financial Institutions & Agencies 0 Banking 3.43 Borrowings in India- Other Banks 0 0 Borrowings outside India 0 Others 96.57
Premium Break-Up - General Insurance	Premium Break-Up - General Insurance Motors 63.36 Health Insurance 30.42 PERSONAL ACCIDENT 3.3 Fire Equipment 1.64 Others 1.28	-	-
Asset Break-Up - Segment Wise	Asset Break-Up - Segment Wise Others 100	-	Asset Break-Up - Segment Wise Others 100
AUM Break-Up - Asset Management	AUM Break-Up - Asset Management EQUITY 61.95 Debt 17.64 Liquid/ Money Market 13.45 ETF 5.38 Balanced schemes 0 PMS & others 0 Insurance 0 Offshore funds 0 Alternate asset 0 Fund of Funds 0 FMP 0 Gilt 0 Others 1.58	AUM Break-Up - Asset Management FMP 0.05 Balanced schemes 0.43 Fund of Funds 1.11 Gilt 0.18 Insurance 0 Alternate asset 0 Liquid/ Money Market 20.24 PMS & others 0 Offshore funds 0 Debt 16.1 Equity 59.75 ETF 2.15	-
Premium Break-Up - Life Insurance	Premium Break-Up - Life Insurance Non-Participating Products 39.7 Participating Products 29.6 ULIP 17.5 Annuity products 13.2	-	-
Priority vs Non-Priority Sector	Priority vs Non-Priority Sector Non Priority Sector 55.35 Priority Sector 44.65 Non-Priority sector Breakup 0 Priority sector Breakup 0	Priority vs Non-Priority Sector Non Priority Sector 62.99 Priority Sector 37.01 Priority Sector 0 Non Priority Sector 0	-

Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank Ltd.

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