Sustained NIM compression
NIM fell 20bps QoQ to 5.02% due to rising deposit costs and lower unsecured lending; further pressure could persist if CASA does not recover.
KOTAKBANK / Q1-FY25 / risks
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Kotak Mahindra Bank · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Unsecured retail asset quality stress
Credit costs rose to 55bps annualized, driven by delinquencies in lower-ticket credit cards and microfinance; management tightened norms but risk remains.
RBI embargo timeline uncertainty
Management declined to provide a specific timeline for lifting the embargo, citing dependence on RBI's comfort with progress and sustainability.
Microfinance volatility in select states
Delinquencies in microfinance rose in states like Tamil Nadu, MP, and UP due to heat waves and elections; recovery expected in H2 but uncertain.