Kotak Mahindra Bank Ltd. benchmarking: Perfomance to industry peers

Financial

	Kotak Mahindra Bank	Axis Bank	AU Small Fin. Bank
Operational Metrics
Asset Management
5 Yr AUM CAGR - Mutual Funds	22.98 %	19.11 %	n/a
% of AUM in equity fund	60.74 %	60.62 %	n/a
AUM - Mutual Funds	580791.59 Crs	360492.02 Crs	n/a
Banks
Cost To Income Ratio	46.8 %	47.1 %	57.7 %
Fresh Slippages - Quarterly	1629.0 Crs	5696.0 Crs	908.0 Crs
Credit Deposit Ratio	87.5 %	92.79 %	87.0 %
Net Interest Margin	4.54 %	3.82 %	5.5 %
Gross NPA	1.39 %	1.46 %	n/a
Net NPA	0.32 %	0.44 %	n/a
CASA Ratio	42.3 %	40.0 %	29.0 %
CASA vs Liabilities	31.64 %	28.71 %	23.21 %
Capital to Risks Assets Ratio (CRAR)	22.1 %	16.55 %	18.8 %
Tier I Capital	20.9 %	14.43 %	16.9 %
Tier 2 Capital	1.2 %	2.12 %	1.9 %
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)	195.21 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	647.17 Crs	n/a	n/a
AUM - Life Insurance	97653.0 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	4.7 %	5.15 %	6.83 %
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	2.55	2.0	3.91
P/E	23.07	15.32	32.98
Shareholdings
Promoter Holding	25.88 %	8.16 %	22.82 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.08 %	-1.53 %	-2.76 %
Change in Mutual Fund Holding (3 Yrs)	10.84 %	10.28 %	10.0 %

Business

	Kotak Mahindra Bank	Axis Bank	AU Small Fin. Bank
Segment Break-Up	Segment Break-Up Consumer Finance 30.81 Corporate Banking 24.74 Insurance 18.73 Treasury Operations 11.57 Broking 4.16 Auto Loans 4.01 Asset Management 3.04 Advisory 0.85 Corporate/Wholesale Banking 0 Treasury 0 Wholesale banking 0 Retail banking 0 Others 2.09	Segment Break-Up Insurance 0 Treasury Operations 0 Retail banking 0 Advisory 0 Consumer Finance 0 Broking 0 Treasury Operations 13.72 Corporate Banking 21.52 Asset Management 0 Wholesale banking 0 Auto Loans 0 Corporate Banking 0 Others 64.76	Segment Break-Up Insurance 0 Treasury Operations 0 Consumer Finance 73.1 Advisory 0 Consumer Finance 0 Broking 0 Treasury Operations 14.79 Corporate/Wholesale Banking 0 Asset Management 0 Corporate Banking 9.63 Auto Loans 0 Corporate Banking 0 Others 2.48
Loan Break-Up	Loan Break-Up Home loans 28.79 Corporate Banking 22.81 Business Banking 9.99 Commercial Vehicles 9.12 SME 7.77 Agricultural 5.08 Consumer Durable 5.07 Tractor finance 3.85 Small & Medium Enterprises (SME) loans 2.6 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 4.92	Loan Break-Up Metals 2.79 Auto loans 0 Auto loans 5.81 Agricultural 10.25 Chemicals 2.58 Housing 22.52 Tractor finance 0 Commercial Real Estate 3.53 Consumer Bank 0 Consumer Durable 0 Home loans 0 Non Priority Sector 0 Trading 5.76 SME 0 Small & Medium Enterprises (SME) loans 0 Agricultural 0 Infrastructure 5.13 Priority Sector 0 Corporate Banking 0 Commercial Vehicles 0 Business Banking 0 NBFC 3.79 Others 37.84	Loan Break-Up Basic Metal & Metal Products 0 Auto loans 0 Vehicle Loans 0 Agriculture and allied activities 0 Chemical & Chemical products 0 Housing 0 Tractor finance 0 Commercial Real Estate 0 Consumer Bank 0 Consumer Durable 0 Home loans 0 Non Priority Sector 39.39 Trade 0 SME 0 Small & Medium Enterprises (SME) loans 0 Agricultural 0 Infrastructure 0 Priority Sector 60.61 Corporate Banking 0 Commercial Vehicles 0 Business Banking 0 Non-banking financial companies (NBFCs) 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 Delhi 0 Rajasthan 0 Maharashtra 0 Punjab 0 Tamil Nadu 0 Gujarat 0 India 97.75 Karnataka 0 West Bengal 0 Kerala 0 Uttar Pradesh 0 Rest of the World 2.25 Andhra Pradesh 0	Location Wise Break-Up Delhi 5.0 Rajasthan 26.0 Maharashtra 16.0 Punjab 5.0 Tamil Nadu 2.0 Gujarat 11.0 India 0 Karnataka 2.0 West Bengal 0 Kerala 0 Uttar Pradesh 3.0 Rest of the World 0 Andhra Pradesh 3.0 Others 27.0
Operating Profit Break-Up	Operating Profit Break-Up Corporate Banking 33.28 Consumer Finance 24.11 Treasury Operations 19.2 Asset Management 8.64 Broking 5.93 Auto Loans 3.33 Lending 3.01 Insurance 2.22 Advisory 0.29 Treasury 0	Operating Profit Break-Up Insurance 0 Treasury Operations 0 Advisory 0 Consumer Finance 0 Broking 0 Treasury Operations 17.8 Lending 0 Asset Management 0 Auto Loans 0 Corporate Banking 0 Others 82.2	-
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 Borrowings outside India 16.32 Financial Institutions & Agencies 76.3 Borrowings in India- Other Banks 0 0 Banks 7.38 Reserve Bank of India 0	Borrowings Break-Up Borrowings outside India 0 Financial Institutions & Agencies 0 Borrowings in India- Other Banks 0 0 Banking 3.43 Reserve Bank of 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 62.23 Debt 17.44 Liquid/ Money Market 14.31 ETF 4.39 Balanced schemes 0 PMS & others 0 Insurance 0 Offshore funds 0 Alternate asset 0 Fund of Funds 0 FMP 0 Gilt 0 Others 1.63	AUM Break-Up - Asset Management Insurance 0 Balanced schemes 0.45 Fund of Funds 0.85 Debt 16.16 PMS & others 0 ETF 1.62 Equity 61.94 Alternate asset 0 FMP 0.05 Gilt 0.19 Liquid/ Money Market 18.75 Offshore funds 0	-
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 Priority Sector 0 Priority Sector 37.01 Non Priority Sector 0 Non Priority Sector 62.99	-
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	-	-

Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank Ltd.

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