Promoters of Ujjivan Small Finance Bank promoters said they will consult the RBI before finalising any option for the bank's listing exercise. The promoters want to avoid any embarrassment from being rejected by the apex bank. "We have finally boiled down to a couple of options for listing including issuing bonus shares to follow the mandate to list the bank separately," Samit Ghosh told ET. In the case of Kotak Mahindra Bank, RBI had denied the private lender the permission to issue preferential shares to reduce promoter's stake.
Kotak Mahindra Bank on Monday reported a 23% year-on-year growth in standalone profit-after-tax at Rs 1,291 crore for the December quarter. Net profit stood at Rs 1,053 crore in the corresponding quarter, last year. Net Interest Income (NII) for the quarter rose to Rs 2,939 crore from Rs 2,394 crore in the same quarter last year. Net Interest Margin (NIM) for the quarter came in at 4.33% as against 4.27% in the year-ago period. Gross non-performing assets (NPAs) eased to 2.07% in the December quarter from 2.15% in September quarter and 2.31% in the year-ago quarter.