Kotak Mahindra Bank Ltd. benchmarking: Perfomance to industry peers

Financial

	Kotak Mahindra Bank	Axis Bank	Yes Bank
Operational Metrics
Asset Management Sector
5 Yr AUM CAGR - Mutual Funds	22.98 %	19.11 %	n/a
% of AUM in equity fund	59.91 %	60.26 %	n/a
AUM - Mutual Funds	566308.96 Crs	354178.09 Crs	n/a
Banking Sector
Cost To Income Ratio	46.19 %	47.1 %	67.1 %
Fresh Slippages - Quarterly	1812.0 Crs	8200.0 Crs	1458.0 Crs
Credit Deposit Ratio	86.7 %	91.23 %	87.4 %
Net Interest Margin	4.65 %	3.91 %	2.5 %
Gross NPA	1.48 %	1.57 %	1.6 %
Net NPA	0.34 %	0.45 %	0.3 %
CASA Ratio	40.9 %	40.0 %	32.8 %
CASA vs Liabilities	30.44 %	28.98 %	22.05 %
Capital to Risks Assets Ratio (CRAR)	23.7 %	16.85 %	16.5 %
Tier I Capital	22.7 %	14.68 %	13.3 %
Tier 2 Capital	1.0 %	2.17 %	3.2 %
General Insurance Sector
Yield On Total Investments - General Insurance	7.68 %	n/a	n/a
Float	1486.74 Crs	n/a	n/a
Combined Ratio	122.0 %	n/a	n/a
Monthly Gross Direct Premium Income (GDPI)	157.62 Crs	n/a	n/a
Risk Retention Ratio	82.0 %	n/a	n/a
Life Insurance Sector
Commission Ratio - Life Insurance	10.48 %	n/a	n/a
Value Of New Business Margin (VNB)	25.0 %	n/a	n/a
Management Expense Ratio - Life Insurance	28.9 %	n/a	n/a
New Business Performance - Life Insurance	634.61 Crs	n/a	n/a
AUM - Life Insurance	96581.0 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	51.89 %	n/a	n/a
13 Month Persistency Ratio	83.52 %	n/a	n/a
NBFC
Cost of Borrowing	5.01 %	5.39 %	6.3 %
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	2.55	1.83	1.37
P/E	20.99	12.74	24.29
Shareholdings
Promoter Holding	25.88 %	8.17 %	0.0
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.09 %	-1.53 %	0.0
Change in Mutual Fund Holding (3 Yrs)	9.36 %	9.32 %	2.03 %

Business

	Kotak Mahindra Bank	Axis Bank	Yes Bank
Segment Break-Up	Segment Break-Up Consumer Finance 29.93 Insurance 22.39 Corporate Banking 21.69 Treasury Operations 12.83 Broking 3.77 Auto Loans 3.76 Asset Management 3.0 Advisory 0.78 Corporate/Wholesale Banking 0 Treasury 0 Others 1.85	Segment Break-Up Broking 0 Auto Loans 0 Treasury Operations 15.28 Consumer Finance 0 Advisory 0 Corporate Banking 20.99 Corporate Banking 0 Treasury Operations 0 Asset Management 0 Insurance 0 Others 63.73	Segment Break-Up Broking 0 Auto Loans 0 Treasury Operations 25.17 Consumer Finance 0 Advisory 0 Corporate Banking 31.73 Corporate Banking 0 Treasury Operations 0 Asset Management 0 Insurance 0 Others 43.1
Loan Break-Up	Loan Break-Up Home loans 28.66 Corporate Banking 22.4 Business Banking 9.69 Commercial Vehicles 9.36 SME 7.58 Agricultural 5.49 Consumer Durable 5.31 Tractor finance 3.89 Small & Medium Enterprises (SME) loans 2.82 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 4.8	Loan Break-Up Tractor finance 0 Retail Banking 0 Corporate Banking 0 Home loans 0 Agricultural 10.25 Auto loans 5.81 Medium Enterprise 0 NBFC 3.79 Consumer Durable 0 Metals 2.79 Agricultural 0 Commercial Real Estate 3.53 SME 0 Small & Medium Enterprises (SME) loans 0 Trading 5.76 Chemicals 2.58 Small and Micro Enterprise 0 Auto loans 0 Commercial Vehicles 0 Infrastructure 5.13 Investment Banking 0 Consumer Bank 0 Housing 22.52 Business Banking 0 Others 37.84	Loan Break-Up Tractor finance 0 Consumer Finance 49.36 Corporate Banking 25.89 Home loans 0 Agriculture and allied activities 0 Vehicle Loans 0 Medium Enterprise 0 Non-banking financial companies (NBFCs) 0 Consumer Durable 0 Basic Metal & Metal Products 0 Agricultural 0 Commercial Real Estate 0 SME 0 Small & Medium Enterprises (SME) loans 0 Trade 0 Chemical & Chemical products 0 Small and Micro Enterprise 0 Auto loans 0 Commercial Vehicles 0 Infrastructure 0 Investment Banking 0 Consumer Bank 0 Housing 0 Business Banking 0 Others 24.75
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up Rest of the World 2.25 India 97.75	Location Wise Break-Up Rest of the World 0 India 100.0
Operating Profit Break-Up	Operating Profit Break-Up Corporate Banking 31.03 Treasury Operations 21.86 Consumer Finance 17.84 Asset Management 9.54 Insurance 7.4 Broking 5.71 Auto Loans 3.43 Lending 2.8 Advisory 0.39 Treasury 0	Operating Profit Break-Up Broking 0 Auto Loans 0 Treasury Operations 29.71 Consumer Finance 0 Advisory 0 Corporate Banking 0 Lending 0 Treasury Operations 0 Asset Management 0 Insurance 0 Others 70.29	Operating Profit Break-Up Broking 0 Auto Loans 0 Treasury 53.21 Consumer Finance 0 Advisory 0 Corporate Banking 0 Lending 0 Treasury Operations 0 Asset Management 0 Insurance 0 Others 46.79
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 0 Banks 7.38 IPDI 0 Borrowings outside India 16.32 Borrowings in India- Other Banks 0 Financial Institutions & Agencies 76.3 Reserve Bank of India 0 Tier II Borrowings 0	Borrowings Break-Up 0 Banks 0 IPDI 0 Borrowings outside India 12.95 Borrowings in India- Other Banks 0 Financial Institutions & Agencies 0 Reserve Bank of India 1.54 Tier II Borrowings 19.47 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 61.3 Debt 17.95 Liquid/ Money Market 14.82 ETF 4.29 Balanced schemes 0 PMS & others 0 Insurance 0 Offshore funds 0 Alternate asset 0 Fund of Funds 0 FMP 0 Gilt 0 Others 1.64	AUM Break-Up - Asset Management Fund of Funds 0.65 Debt 15.58 Equity 61.51 FMP 0.05 Balanced schemes 0.46 PMS & others 0 Offshore funds 0 Insurance 0 Gilt 0.23 ETF 1.37 Alternate asset 0 Liquid/ Money Market 20.16	-
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 62.99 Non Priority Sector 0 Priority Sector 37.01 Priority Sector 0 Priority sector 0 Non Priority sector 0	Priority vs Non-Priority Sector Non-Priority sector Breakup 0 Non Priority Sector 0 Priority sector Breakup 0 Priority Sector 0 Priority Sector 40.76 Non Priority Sector 59.24
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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