Mumbai, 4^th May, 2024.

The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the auditedstandaloneandconsolidatedresultsforthequarterandfinancialyearendedMarch31,2024,atthe Board meeting held in Mumbai, today.

KotakMahindraBankstandaloneresults

The Bank’s PAT for FY24 increased to ₹ 13,782 crore from ₹ 10,939 crore in FY23, up 26% YoY. PAT for Q4FY24stoodat₹4,133crore,up18%YoYfrom₹3,496croreinQ4FY23(up38%QoQfrom₹3,005crore in Q3FY24).

Net InterestIncome(NII)forFY24increasedto₹25,993crore,from₹21,552croreinFY23,up21%YoYand for Q4FY24 increasedto ₹6,909 crore, from ₹ 6,103 crore inQ4FY23, up 13%YoY (up 5% QoQfrom ₹ 6,554 crore in Q3FY24). Net Interest Margin (NIM) was 5.28% for Q4FY24.

Fees and services for FY24 increased to ₹ 8,464 crore from ₹ 6,790 crore in FY23, up 25% YoY and for Q4FY24increasedto₹2,467 crorefrom₹1,928croreinQ4FY23,up28%YoY(up15% QoQfrom₹2,144 crore in Q3FY24).

Operatingcostsincreasedto ₹16,679croreinFY24(₹13,787 croreinFY23).Technologyexpenseswere 10% of total operating cost in FY24.

Operating profit for FY24 increased to ₹ 19,587 crore from ₹ 14,848 crore, up 32% YoY and for Q4FY24 increasedto₹5,462crorefrom₹4,647 croreinQ4FY23, up18%YoY (up20%QoQ from₹4,566crorein Q3FY24).

CustomersasatMarch31,2024were5.0cr(4.1crasatMarch31,2023).

Advances(incl.IBPC&BRDS)increased20%YoYto₹391,729croreasatMarch31,2024from

₹ 325,543croreasatMarch31,2023.CustomerAssets,whichcomprisesAdvances (incl.IBPC&BRDS)and Credit Substitutes, increased by 20% YoY to ₹ 423,324 crore as at March 31, 2024 from ₹ 352,652 crore as at March 31, 2023.

Unsecuredretailadvances(incl.RetailMicro Finance)asa%ofnetadvancesstoodat11.8%asatMarch 31, 2024 (10.0% as at March 31, 2023).

BankcompletedacquisitionofSonataMicrofinance,anentitybasedoutofNorthofIndiainFY24. CASA ratio as at March 31, 2024 stood at 45.5%.

AverageCurrent deposits grew to₹60,160crore for Q4FY24 comparedto₹58,415 crore forQ4FY23 up3% YoY.AverageSavingsdepositsgrewto₹123,457croreforQ4FY24comparedto₹117,824croreforQ4FY23

up5%YoY.AverageTermdepositgrewto₹224,703croreforQ4FY24comparedto ₹166,644crorefor Q4FY23 up 35% YoY.

ActivMoneywaslaunchedinQ1FY24andTDsweepbalancegrew102%YoYto₹47,052crore.

As atMarch31,2024,GNPAwas1.39%& NNPAwas0.34% (GNPAwas1.78%&NNPA was0.37%atMarch 31, 2023).

CapitalAdequacyRatiooftheBank,asperBaselIII,asatMarch31,2024was20.5%andCET1ratioof 19.2%.

Standalone ReturnonAssets(ROA)forFY24was2.61%andforQ4FY24was2.97%.ReturnonEquity(ROE) for FY24 was 15.34% and for Q4FY24 was 17.54%.

TheBoardofDirectorsoftheBankhasrecommendeddividendof₹2.00perequity sharehavingfacevalue of ₹ 5, for the year ended March 31, 2024, subject to approval of shareholders.

Consolidatedresultsataglance

Consolidated PAT for FY24 increased to ₹ 18,213 crore from ₹ 14,925 crore in FY23, up 22% YoY and for Q4FY24was₹5,337crore,up17%YoY from₹ 4,566crore inQ4FY23 (up25% QoQ from₹4,265crorein Q3FY24).

PATofBankandkeysubsidiariesgivenbelow:

At theconsolidatedlevel,the ReturnonAssets(ROA)for FY24was2.66%andforQ4FY24was2.92%. Return on Equity (ROE) for FY24 was 15.08% and for Q4FY24 was 16.85%.

ConsolidatedCapitalAdequacy RatioasperBaselIIIasatMarch31,2024was21.8% andCET Iratiowas 20.7%.

Consolidated Networth as at March 31, 2024 was ₹ 129,892 crore. The Book Value per Share was ₹ 653. ConsolidatedCustomerAssetswhichcomprisesAdvances(incl.IBPC&BRDS)andCreditSubstitutesgrewto

₹479,169croreasatMarch31,2024from₹393,882croreasatMarch31,2023,up22%YoY.

TotalAssets UnderManagement asatMarch31,2024 were ₹ 560,140 crore up33% YoYover₹ 420,880 croreasatMarch31,2023.TheDomesticMFEquityAUMincreasedby58%YoYto ₹246,771croreasat March 31, 2024.

ThefinancialstatementsofIndiansubsidiaries(excludinginsurance

companies) and associates are prepared as per Indian Accounting Standards in accordance with the Companies (Indian Accounting Standards) Rules, 2015. The financial statements of subsidiaries located outside India are prepared in accordance with accounting principles generally accepted in their respective countries. However, for the purpose of preparation of the consolidated financial results, the results of subsidiariesandassociatesareinaccordancewithGenerallyAcceptedAccountingPrinciplesinIndia(‘GAAP’) specified under Section 133 and relevant provision of Companies Act, 2013.