Kotak Mahindra Bank Q4 FY26: Scale ambitions, steady asset quality, and a watchful macro stance

Standalone PAT was 4,027 crore. Consolidated PAT was 5,238 crore excluding the Infina divestment gain (5,423 crore including it).

Period-end deposits were 572,456 crore as of March 31, 2026, up 15% YoY. CASA ratio was 43.3% (43.0% as of March 31, 2025).

Gross NPA was 1.20% and net NPA was 0.25%. Provision coverage ratio was 79%.

Management expects NIM to reduce versus FY26, but gradually and at a slower pace than the FY26 decline, with the impact likely more visible in the second half due to term deposit repricing and tenure elongation.

Management highlighted four focus segments: affluent (Private Banking plus Solitaire), Core India (Kotak811), SME, and Institutional.

Standalone bank CAR was 22.4% with CET1 21.3% as of March 31, 2026. Consolidated CAR was 23.0% with CET1 22.1%.

Kotak Mahindra Capital divested stake in Infina (Infina ceased to be an associate effective 24 March 2026). KMIL’s business activities will be conducted within the Bank from 1 April 2026, and KMIL will not sanction new loans from that date.