Mumbai, Oct. 24 -- Kotak Mahindra Bank on Saturday reported a 29 per cent year-on-year increase in standalone net profit to Rs 4,212 crore for the second quarter ended September 30, 2026, but its net interest margin (NIM) moderated to 4.31 per cent following the mobilisation of around Rs 55,000 crore in foreign currency non-resident bank (FCNR(B)) deposits.
The bank's management said the funds were used to repay expensive inter-bank participation certificate (IBPC) borrowings and finance the acquisition of the Kotak Mahindra Investments Ltd (KMIL) loan portfolio, while the remaining liquidity was parked pending deployment into customer assets.
Responding to UNI question, Devang Gheewalla said the FCNR(B) mobilisation had affected margins ...