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.