Kotak Mahindra Bank CEO predicts ₹300-450 crore PBT impact from RBI's actions, leading to a 12% share crash, while Q4 net profit increases 18%.
Kotak Mahindra Bank's MD & CEO, Ashok Vaswani, anticipates a PBT impact of ₹300-₹450 crore due to RBI's recent regulatory actions, leading to a 12% share crash. Despite this, the bank's Q4 net profit increased 18% to Rs 4,133 crore. Kotak plans to invest Rs 1,700 crore to address RBI's concerns on technology, risk management, and resilience, while the central bank's action only bans new customer onboarding, allowing existing customers to continue transacting.
May 05, 2024
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