Kotak Mahindra Bank Ltd. benchmarking: Perfomance to industry peers

Financial

	Kotak Mahindra Bank	Axis Bank	Yes 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 %	67.1 %
Fresh Slippages - Quarterly	1629.0 Crs	5696.0 Crs	1248.0 Crs
Credit Deposit Ratio	87.5 %	92.79 %	84.5 %
Net Interest Margin	4.54 %	3.82 %	2.5 %
Gross NPA	1.39 %	1.46 %	1.6 %
Net NPA	0.32 %	0.44 %	0.3 %
CASA Ratio	42.3 %	40.0 %	33.7 %
CASA vs Liabilities	31.64 %	28.71 %	23.27 %
Capital to Risks Assets Ratio (CRAR)	22.1 %	16.55 %	16.1 %
Tier I Capital	20.9 %	14.43 %	13.2 %
Tier 2 Capital	1.2 %	2.12 %	2.9 %
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)	142.18 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 %	6.0 %
Financials
5 yr Average ROE	14.13 %	12.83 %	0.23 %
5yr average Equity Multiplier	5.66	9.73	8.99
5yr Average Asset Turnover Ratio	0.12	0.08	0.08
5yr Avg Net Profit Margin	20.05 %	14.59 %	0.59 %
5yr Avg Net Profit Margin	20.05 %	14.59 %	0.59 %
5yr CAGR Net Profit	17.24 %	31.28 %	n/a
5yr CAGR Sales	13.64 %	14.87 %	9.88 %
5 yr CAGR PPOP	15.44 %	13.18 %	-1.37 %
Price to Book	2.48	1.97	1.46
P/E	22.4	15.11	25.43
Shareholdings
Promoter Holding	25.88 %	8.16 %	0.0
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.08 %	-1.53 %	0.0
Change in Mutual Fund Holding (3 Yrs)	10.84 %	10.28 %	2.51 %

Business

	Kotak Mahindra Bank	Axis Bank	Yes 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 Others 2.09	Segment Break-Up Auto Loans 0 Corporate Banking 21.52 Asset Management 0 Broking 0 Advisory 0 Insurance 0 Consumer Finance 0 Treasury Operations 13.72 Treasury Operations 0 Corporate Banking 0 Others 64.76	Segment Break-Up Auto Loans 0 Corporate Banking 33.95 Asset Management 0 Broking 0 Advisory 0 Insurance 0 Consumer Finance 0 Treasury Operations 19.87 Treasury Operations 0 Corporate Banking 0 Others 46.18
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 Investment Banking 0 Retail Banking 0 Small and Micro Enterprise 0 Medium Enterprise 0 Others 4.92	Loan Break-Up Housing 22.52 Medium Enterprise 0 Chemicals 2.58 Tractor finance 0 Consumer Durable 0 SME 0 Auto loans 5.81 Metals 2.79 NBFC 3.79 Commercial Real Estate 3.53 Trading 5.76 Investment Banking 0 Home loans 0 Small & Medium Enterprises (SME) loans 0 Agricultural 0 Small and Micro Enterprise 0 Commercial Vehicles 0 Retail Banking 0 Corporate Banking 0 Auto loans 0 Infrastructure 5.13 Business Banking 0 Consumer Bank 0 Agricultural 10.25 Others 37.84	Loan Break-Up Housing 0 Medium Enterprise 0 Chemical & Chemical products 0 Tractor finance 0 Consumer Durable 0 SME 0 Vehicle Loans 0 Basic Metal & Metal Products 0 Non-banking financial companies (NBFCs) 0 Commercial Real Estate 0 Trade 0 Investment Banking 0 Home loans 0 Small & Medium Enterprises (SME) loans 0 Agricultural 0 Small and Micro Enterprise 0 Commercial Vehicles 0 Consumer Finance 48.28 Corporate Banking 26.77 Auto loans 0 Infrastructure 0 Business Banking 0 Consumer Bank 0 Agriculture and allied activities 0 Others 24.95
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 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 Auto Loans 0 Asset Management 0 Lending 0 Broking 0 Advisory 0 Insurance 0 Consumer Finance 0 Treasury Operations 17.8 Treasury Operations 0 Corporate Banking 0 Others 82.2	Operating Profit Break-Up Auto Loans 0 Asset Management 0 Lending 0 Broking 0 Advisory 0 Insurance 0 Consumer Finance 0 Treasury 27.59 Treasury Operations 0 Corporate Banking 0 Others 72.41
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 Tier II Borrowings 0 IPDI 0	Borrowings Break-Up Banks 7.38 0 Tier II Borrowings 0 Borrowings outside India 16.32 Borrowings in India- Other Banks 0 Reserve Bank of India 0 IPDI 0 Financial Institutions & Agencies 76.3	Borrowings Break-Up Banks 0 0 Tier II Borrowings 19.47 Borrowings outside India 12.95 Borrowings in India- Other Banks 0 Reserve Bank of India 1.54 IPDI 0 Financial Institutions & Agencies 0 Others 66.04
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	-	-
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 Offshore funds 0 PMS & others 0 ETF 1.62 Fund of Funds 0.85 Equity 61.94 Debt 16.16 Liquid/ Money Market 18.75 Gilt 0.19 Balanced schemes 0.45 FMP 0.05 Insurance 0 Alternate asset 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 Non Priority sector 0 Priority sector 0	Priority vs Non-Priority Sector Non Priority sector 0 Priority Sector 0 Non Priority Sector 0 Priority Sector 37.01 Priority sector 0 Non Priority Sector 62.99	Priority vs Non-Priority Sector Non Priority Sector 59.24 Priority Sector 0 Non Priority Sector 0 Priority sector Breakup 0 Priority Sector 40.76 Non-Priority sector Breakup 0
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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