Kotak Mahindra Bank Ltd. benchmarking: Performance to industry peers

Financial

	Kotak Mahindra Bank	Axis Bank	Indusind 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	48.3 %	47.1 %	66.22 %
Fresh Slippages - Quarterly	1605.0 Crs	4709.0 Crs	1825.0 Crs
Credit Deposit Ratio	88.6 %	92.34 %	78.98 %
Net Interest Margin	4.54 %	3.73 %	3.39 %
Gross NPA	1.3 %	1.23 %	3.43 %
Net NPA	0.31 %	0.37 %	1.0 %
CASA Ratio	41.3 %	40.0 %	31.24 %
CASA vs Liabilities	30.68 %	28.32 %	22.99 %
Capital to Risks Assets Ratio (CRAR)	23.3 %	16.42 %	17.48 %
Tier I Capital	22.4 %	14.38 %	16.2 %
Tier 2 Capital	0.9 %	2.04 %	1.28 %
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	4.54 %	5.06 %	5.14 %
Financials
5 yr Average ROE	14.13 %	12.83 %	10.41 %
5yr average Equity Multiplier	5.66	9.73	8.35
5yr Average Asset Turnover Ratio	0.12	0.08	0.1
5yr Avg Net Profit Margin	20.05 %	14.59 %	11.68 %
5yr Avg Net Profit Margin	20.05 %	14.59 %	11.68 %
5yr CAGR Net Profit	17.24 %	31.28 %	-2.55 %
5yr CAGR Sales	13.64 %	14.87 %	9.68 %
5 yr CAGR PPOP	15.44 %	13.18 %	-2.13 %
Price to Book	2.26	1.87	1.08
P/E	20.19	15.26	80.04
Shareholdings
Promoter Holding	25.87 %	8.14 %	15.82 %
Share Pledged by Promoters	0.0	0.0	42.78 %
Change in Promoter Holding (3 Yrs)	-0.08 %	-0.02 %	-0.68 %
Change in Mutual Fund Holding (3 Yrs)	12.58 %	10.48 %	14.48 %

Business

	Kotak Mahindra Bank	Axis Bank	Indusind 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 Others 1.92	Segment Break-Up Consumer Finance 0 Advisory 0 Insurance 0 Treasury Operations 13.51 Treasury Operations 0 Corporate Banking 22.08 Corporate Banking 0 Asset Management 0 Auto Loans 0 Broking 0 Others 64.41	Segment Break-Up Consumer Finance 0 Advisory 0 Insurance 0 Treasury Operations 16.92 Treasury Operations 0 Corporate Banking 17.4 Corporate Banking 0 Asset Management 0 Auto Loans 0 Broking 0 Others 65.68
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 Personal loans 0 Services 0 Basic Metal and Metal Products 0 0 Gems and Jewellery 0 0 Others 4.93	Loan Break-Up NBFC 3.79 Personal loans 0 Commercial Real Estate 3.53 Basic Metal and Metal Products 0 Corporate Banking 0 Infrastructure 5.13 Business Banking 0 Auto loans 0 Chemicals 2.58 Auto loans 5.81 SME 0 Housing 22.52 Gems and Jewellery 0 Consumer Durable 0 Home loans 0 Small & Medium Enterprises (SME) loans 0 Trading 5.76 Commercial Vehicles 0 Agricultural 0 0 Consumer Bank 0 0 Services 0 Tractor finance 0 Metals 2.79 Agricultural 10.25 Others 37.84	Loan Break-Up Non-banking financial companies (NBFCs) 0 Personal Loan 20.07 Commercial Real Estate 0 Metals 2.51 Corporate Banking 0 Infrastructure 3.3 Business Banking 0 Auto loans 0 Chemical & Chemical products 0 Vehicle Loans 0 SME 0 Housing 0 Gems & Jewelry 2.06 Consumer Durable 0 Home loans 0 Small & Medium Enterprises (SME) loans 0 Trade 0 Commercial Vehicles 0 Agricultural 0 0 Consumer Bank 0 0 Services 47.78 Tractor finance 0 Basic Metal & Metal Products 0 Agricultural 13.5 Others 10.78
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up India 97.75 Rest of the World 2.25	Location Wise Break-Up India 100.0 Rest of the World 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 Consumer Finance 0 Advisory 0 Insurance 0 Treasury Operations 10.51 Treasury Operations 0 Corporate Banking 0 Asset Management 0 Lending 0 Auto Loans 0 Broking 0 Others 89.49	Operating Profit Break-Up Consumer Finance 0 Advisory 0 Insurance 0 Treasury 11.29 Treasury Operations 0 Corporate Banking 0 Asset Management 0 Lending 0 Auto Loans 0 Broking 0 Others 88.71
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 0 Long Term Infrastructure Bonds 0	Borrowings Break-Up 0 Long Term Infrastructure Bonds 0 Borrowings in India- Other Banks 0 Borrowings outside India 16.32 Banks 7.38 Reserve Bank of India 0 Financial Institutions & Agencies 76.3 0	Borrowings Break-Up 0 Long Term Infrastructure Bonds 2.79 Borrowings in India- Other Banks 0 Borrowings outside India 33.69 Banks 0 Reserve Bank of India 0 Financial Institutions & Agencies 0 0 Others 63.52
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 Debt 16.1 Offshore funds 0 Balanced schemes 0.43 Insurance 0 Liquid/ Money Market 20.24 Equity 59.75 ETF 2.15 Gilt 0.18 FMP 0.05 PMS & others 0 Alternate asset 0 Fund of Funds 1.11	-
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 Non Priority Sector 0 Priority Sector 0	Priority vs Non-Priority Sector Non-Priority sector Breakup 0 Priority sector Breakup 0 Non Priority Sector 69.0 Priority Sector 31.0

Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank Ltd.

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