EARNINGS

UPDATE
Q4FY20
Presentation on financial results for the period ended March 31, 2020

May 13, 2020

Standalone Highlights Q4FY20

PPOP PAT NIM* LOANS

` 2,725 cr ` 1,267 cr 4.72% ` 219,748 cr

[` 2,282 cr] [` 1,408 cr] [4.46%] [` 205,695 cr]

NET NPA CAR ROA^ CASA

17.9%
[17.5%]
Tier I
0.71% 1.87% 56.2%
[0.75%] 17.3% [52.5%]
[16.9%] [1.69%]
Figures in [brackets] are Q4FY19 numbers
* Doesn’t include dividend income and interest on income-tax refund
^ YTD, annualised

2
Profit and Loss Account
` cr Q4FY20 Q4FY19 Q3FY20 FY20 FY19
Net Interest Income 3,560 3,036 3,430 13,500 11,206
Other Income 1,489 1,282 1,341 5,372 4,657
Fee and Services 1,270 1,199 1,136 4,731 4,287
Others 219 83 205 641 370

Net Total Income 5,049 4,318 4,771 18,872 15,863

Employee Cost 970 857 1,092 3,878 3,159
Other Operating Expenses 1,354 1,179 1,291 4,973 4,356
Operating Expenditure 2,324 2,036 2,383 8,851 7,515
Operating Profit 2,725 2,282 2,388 10,021 8,348
Provision On Adv/Receivables (net) 373 240 432 1,476 976
General provision – COVID related 650 - - 650 -
Provision On Investments 24 (69) 12 90 (14)
Provision & Contingencies 1,047 171 444 2,216 962
PBT 1,678 2,111 1,944 7,805 7,386
Provision For Tax 411 703 348 1,858 2,521
PAT 1,267 1,408 1,596 5,947 4,865

3
Fees & Services
` cr Q4FY20 Q4FY19 Q3FY20 FY20 FY19

Distribution & Syndication Income 234 210 128 590 689

General Banking Fees 1,007 965 978 4,021 3,508

Others 29 24 30 120 90

Fees and Services 1,270 1,199 1,136 4,731 4,287

4
 Deposits - CASA
CASA (` cr)

CASA % 56.2% 52.5% 53.7%

Savings Deposit crossed `

1 lakh crore

811 Accounts opened in

FY20: ~44 lakh.
Continuing to open in
Wholesale April and May, during
floating rate SA 10,836 9,926 8,730
(included above) lockdown. Current run
rate in May ~14,000 per
YoY % day
21%
Avg SA (YTD) 85,656 70,990

17%
Avg CA (YTD) 33,699 28,742
5
Deposits - Highlights

 Total Deposits (excl. CDs) grew  CASA, and TDs below ` 5 cr

constitute 86% (PY: 81%) of total
20% YoY to ` 258,409 crore deposits

 Total Deposits grew 16% YoY to  TDs below ` 1 cr were ` 63,549

` 262,821 crore cr (PY: ` 55,279 cr)

 TD Sweep: 6.6% (PY: 6.5%) of

 Term deposits (excl. CDs) grew total deposits
14% YoY to ` 110,788 crore
 Cost of SA for Q4FY20: 5.23%
(Q4FY19: 5.66%)
 CDs decreased 55% YoY to
` 4,412 crore  1,600 branches (excl GIFT &
DIFC) as on 31st Mar, 2020

6
Advances
31-Mar-20 (` 219,748 cr) Advances
31-Mar- 31-Mar- 31-Dec-
` cr
20 19 19

Corp & Business Bkg 84,855 80,104 83,423

CV/CE 19,253 19,706 18,993

Agriculture Division 21,188 20,625 20,481

Tractor Finance 7,569 6,367 7,255

Home Loans & LAP 46,881 40,722 46,031

Consumer Bank WC
19,839 19,350 19,859
(Secured)
PL, BL and Consumer
9,754 9,001 9,839
Durables
Credit Cards 4,701 4,103 4,885

Others 5,708 5,717 6,008

Total Advances 219,748 205,695 216,774

7
 Asset Quality
Asset Quality
` cr 31-Mar-20 31-Mar-19 31-Dec-19
 Total provisioning towards
GNPA 5,027 4,468 5,413 advances (including specific,
NNPA 1,558 1,544 1,925 standard, COVID provisions)
GNPA (%) 2.25% 2.14% 2.46% higher than the GNPA of the
NNPA (%) 0.71% 0.75% 0.89% Bank
PCR (excl standard and
69.0% 65.4% 64.4%
COVID provision)*  SMA2 outstanding - ` 96 cr,
Slippages for the quarter 491 907 1,062 0.04% of net advances (PY: `

* excl technical write-off 138 cr, 0.07% of net

• If the benefit of RBI circular dated 17th Apr, 2020 not taken, GNPA advances)
would be higher by ~ ` 660 crore

• COVID provisioning higher than required by RBI

• Amounts overdue on 29th Feb, 2020 and moratorium availed upto 30th Apr, 2020 considered

• COVID Provisioning at ~10% at account level

• ~26% of borrowers by value at account level have availed moratorium upto 30th Apr, 2020
8
 Specific Sectors Exposure

Specific Sectors as per Basel III

Outstanding* (` cr) 31-Mar-20 % 31-Mar-19 % 31-Dec-19 %
NBFCs 11,294 4.0% 11,081 4.0% 11,756 4.2%
:Of which HFC 4,548 1.6% 3,037 1.1% 4,311 1.5%
CRE (excl LRD) 6,251 2.2% 4,666 1.7% 5,844 2.1%
LRD 4,457 1.6% 4,574 1.6% 4,521 1.6%
Total including above 285,585 278,421 279,040
*Above outstanding includes Loans, non-SLR investments, bank balances, current exposure and
non-fund

9
Balance Sheet
` cr 31-Mar-20 31-Mar-19 31-Dec-19
Capital & Reserves and Surplus 49,015 42,898 47,606
Deposits 262,821 225,880 239,354
CA 43,013 38,901 36,788
SA 104,609 79,685 91,729
Term Deposits 115,199 107,294 110,837
Of which: TD Sweep 17,467 14,777 17,656
Borrowings 37,993 32,249 26,465
Other Liabilities and Provisions 10,423 11,145 10,056
Total Liabilities 360,252 312,172 323,481

` cr 31-Mar-20 31-Mar-19 31-Dec-19

Cash, Bank and Call 53,292 24,676 19,090
Investments 75,052 71,189 76,601
Government Securities 61,906 58,063 62,814
Others 13,146 13,126 13,787
Advances 219,748 205,695 216,774
Fixed Assets and Other Assets 12,160 10,612 11,016
Total Assets 360,252 312,172 323,481

Have sought shareholders’ approval for upto 65 million equity share issuance

10
 Digital Platforms
New Features
Q4FY20
• Google Assistant integration (1st Bank in India)
• Recurring Deposit sourced Customers can view balance through Google assistant
~93% digitally
• UPI 2.0
Customers can create, approve, revoke mandates
• Fixed Deposit sourced
~80% digitally • My policies
Customers can view details of Group insurance
polices and renew
• Mobile Banking growth YoY*^
~61% (Volume) • 811 Account opening platform
- Extended to Branch, Corporate salary & other channels
- Web push & WhatsApp deployed

~47% ~83% ~24X ~0.95mn 37%

•YoY^ •Mobile •Logins on •Monthly •Salaried
growth in banking mobile Service personal
monthly customers banking Requests loans
active are ONLY compared processed contributio
users on on mobile to Net thru Keya n through
Mobile app Banking Chatbot digital in
Banking (Mar20) (Mar20) (Mar20) Q4FY20

• (RBI Report) Mobile Banking Transaction includes UPI transactions from other app where debit account is Kotak account
^ Mar20 vs Mar19
 Digital Payments, Lending, API Banking & Partnerships

Key Highlights Key Trends

1.74X growth of consumer volumes in Open Banking has enabled

Q4FY20 over Q4FY19 91 API relationships
YTD FY20 with ~15.9X
transaction growth in Q4FY20
over Q4FY19

39X growth of registered UPI

merchant base in Q4FY20 over
Consumer UPI P2M
Q4FY19
(Peer to Merchant) Checkouts
have grown ~4X in
20X growth of UPI transactions
Q4FY20 over Q4FY19
acquired in Q4FY20 over Q4FY19

% Share of P2M Merchant checkout

~1.3X GMV Growth for KayMall in transactions have grown 2X
Q4FY20 over Q4FY19 i.e. 45% of UPI transactions in
(mCommerce & eCommerce) Q4FY20 over Q4FY19
KayMall

12 12
 Digital Update – Subsidiaries
Kotak Securities

76% 119%
growth YoY* growth YoY*
in Online in Mobile
Total ADV Total ADV
*Q4FY20 v/s Q4FY19

Kotak Life Insurance Kotak General Insurance

Individual Policies sourced in Q4FY20 through

94% Genie (Tablet based end to end sales solution)
Increasing its digital
footprint within the bank,
Business (sales in Q4FY20) comes through
96% Genie for BANCA channel
more than 60% of KGI
business in retail
Applications shared via digital medium in liabilities was sourced
99.9% Q4FY20 (On-board advisors provided with
Mobility solution digitally)
digitally

Active Life Advisors till YTD Mar 20 uses Smart

96% sell (Pre Marketing, engagement and
productivity app) 13
Consolidated Highlights Q4FY20

PAT CAR
LOANS BOOK VALUE
19.8% PER EQ.
[17.9%] SHARE

` 1,905 cr Tier I ` 249,879 cr ` 348.3

[` 2,038 cr] 19.2% [` 243,462 cr] [` 302.7]
[17.4%]

NIM* CAPITAL & NET NPA TOTAL

RESERVES ASSETS

4.73% ` 67,134 cr 0.70% ` 443,173 cr

[4.43%] [` 58,280 cr] [0.70%] [` 395,171 cr]

Figures in [brackets] are Q4FY19 numbers

* Doesn’t include dividend income and interest on income-tax refund

Financial results have been prepared under Indian Generally Accepted Accounting Principles

14
Consolidated PAT
` cr Q4FY20 Q4FY19 Q3FY20 FY20 FY19

Kotak Mahindra Bank 1,267 1,408 1,596 5,947 4,865

Kotak Mahindra Prime 161 164 187 673 599

Kotak Mahindra Investments 77 73 64 270 207

Kotak Securities 163 111 128 550 452

Kotak Mahindra Capital (7) 21 40 79 63

Kotak Mahindra Life Insurance 165 138 166 608 507

Kotak AMC and TC 88 75 91 337 255

International Subsidiaries 30 32 26 119 148

Others 7 15 30 78 67

Total 1,951 2,037 2,328 8,661 7,163

Affiliates and Others (46) 1 21 (68) 41

Consolidated PAT 1,905 2,038 2,349 8,593 7,204

15
Entity wise Capital & Reserves and Surplus
` cr 31-Mar-20 31-Mar-19 31-Dec-19
Kotak Mahindra Bank 49,015 42,898 47,606
Kotak Mahindra Prime 6,088 5,416 5,927
Kotak Mahindra Investments 1,860 1,590 1,783
Kotak Securities 4,529 3,979 4,366
Kotak Mahindra Capital 622 572 629
Kotak Mahindra Life Insurance 3,354 2,745 3,189
Kotak AMC and TC 886 583 799
Kotak Infrastructure Debt Fund 383 349 373
Kotak Mahindra General Insurance 165 108 174
International Subsidiaries 1,230 1,009 1,131
Kotak Investment Advisors 365 355 364
Other Entities 275 213 269
Total 68,772 59,817 66,610
Affiliates 942 942 968
Inter-company and Others (2,580) (2,479) (2,560)
Consolidated Capital & Reserves and
67,134 58,280 65,018
Surplus
16
Consolidated Advances
31-Mar-20 (` 249,879 cr) Consolidated Advances
` cr 31-Mar-20 31-Mar-19 31-Dec-19
Corp & Business Bkg 94,187 90,273 93,775
CV/CE 19,253 19,706 18,993
Agriculture Division 21,188 20,625 20,481
Tractor Finance 7,569 6,367 7,255
Auto loans 17,485 20,297 18,008
Home Loans & LAP 46,881 40,722 46,031
Consumer Bank WC
19,839 19,350 19,859
(Secured)
PL, BL and Consumer
9,754 9,003 9,839
Durables
Credit Cards 4,701 4,103 4,885
Others 9,022 13,016 11,046
Total Advances 249,879 243,462 250,172

17
 Kotak Mahindra Life Insurance
` cr FY20 Individual New Business
FY20
Indian Embedded Value Product Mix#
8,388
(IEV)* Participating Products 40.5%
Value of New Business (VNB) 643
Non-Participating Products 39.0%
VNB Margin (%) 28.8%
ULIP 20.5%

Highlights Individual New Business

FY20
Channel Mix
 Individual Conservation ratio: 88.9%
Bancassurance 44%
 Share of Risk Premium~ as percentage
of Total New Business Premium : 28.7% Agency & Others 56%
 Claims settlement ratio FY20: 99.2%
Persistency YTD Feb’20
For 13th month 87.8%
For 25th month 79.6%
For 37th month 71.2%
For 49th month 65.4%
For 61st month 61.5%

* Computed based on the principles prescribed by APS10. The methodology, assumptions and results have been
reviewed by Willis Towers Watson Actuarial Advisory LLP.
#Based on Individual New Business Premium APE : Annualised Regular Premium + 1/10th Single Premium 18
~ Total Group OYRT business is part of Risk New Business Premium
Kotak Mahindra Life Insurance
Gross Written Premium (` cr) Highlights

3,865 3,427 2,645 10,340 8,168  Gross Written Premium growth 26.6% YoY

 Gross Individual Premium growth 20.8%

YoY

 Renewal Premium growth 24.9% over

FY20

 Group Premium growth 43.3% YoY

 AUM (Policyholders’) as on 31st Mar,

2020: ₹ 32,080 cr, growth of 14.6% YoY

` cr Q4FY20 Q4FY19 Q3FY20 FY20 FY19

Capital 562 562 562 562 562
Other Reserves and Surplus 2,791 2,183 2,627 2,791 2,183
Total Premium 3,865 3,427 2,645 10,340 8,168
Profit After Tax (Shareholders’) 165 138 166 608 507
Solvency Ratio (x) 2.90 3.02 3.04 2.90 3.02

19
Capital Markets & Advisory
Equity Advisory
SBI CARDS & PAYMENT SERVICES LTD. Buyback Offer to the shareholders of
# Initial Public Offerings Aster DM Healthcare Ltd.
` 10,341 cr ` 120 cr

AVENUE SUPERMARTS LTD.

# Qualified Institutional Placements
` 7,526 cr # Offer for Sale

KMCC – (` cr) Q4FY20 Q4FY19 Q3FY20 FY20 FY19

Total Income 22 55 89 229 176
Profit Before Tax (9) 32 53 108 93
Profit After Tax (7) 21 40 79 63

Kotak Securities (` cr) Q4FY20 Q4FY19 Q3FY20 FY20 FY19

Total Income 463 396 409 1,690 1,582
Profit Before Tax 218 165 171 738 680
Profit After Tax 163 111 128 550 452
Market Share* (%) 1.7 2.6
*excluding BSE Derivative segment

Market Share in Cash Segment FY20 – 9.1% (FY19 – 9.1%)

1,315 branches, franchises and referral co-ordinators
AUM & RV
31st Mar, 2020 31st Mar, 2019

AUM ` 225,819 cr AUM ` 226,059 cr

Relationship Value of Wealth + Priority + Investment Advisory as on 31st
Mar, 2020 ~ ` 270,000 cr (PY: ~` 270,000 cr)
21
 Kotak Mahindra AMC & Trustee Co.

Average Assets Under Management (` cr) - Overall Average Assets Under Management (` cr) - Equity

` cr Q4FY20 Q4FY19 Q3FY20 FY20 FY19 Highlights

Profit Before  Overall Ranking on AAUM improved to
117 116 122 454 388
Tax 6th in Q4FY20 (Q4FY19: 7th)
Profit After
88 75 91 337 255
Tax  Overall Market share on AAUM rose to
6.9% in Q4FY20 (Q4FY19: 6.1%)

 Equity AAUM market share rose to

6.1% in Q4FY20 (Q4FY19: 5.2%)

22
Kotak Mahindra Prime
Customer Assets* (` cr) & NNPA (%)

` cr Q4FY20 Q4FY19 Q3FY20 FY20 FY19

NII 313 292 312 1,229 1,104
Other Income 99 85 65 291 288
NII and Other Income 412 377 377 1,520 1,392
Profit Before Tax 203 240 250 923 905
Profit After Tax 161 164 187 673 599
CAR (%) 24.3 24.3
ROA (%) - annualised 2.3 2.3
* Includes loans and credit substitutes

COVID provision ` 50 crore during Q4FY20 23

Kotak Mahindra Investments
Customer Assets* (` cr) & NNPA (%)

` cr Q4FY20 Q4FY19 Q3FY20 FY20 FY19

NII 100 92 87 362 290
Other Income 19 43 22 92 97
NII and Other Income 119 135 109 454 387
Profit Before Tax 103 111 84 368 316
Profit After Tax 77 73 64 270 207
CAR (%) 29.4 29.4
ROA (%) - annualised 3.8 2.9
* Includes loans and credit substitutes

COVID provision ` 14 crore during Q4FY20 24

Geographical Presence

3
Branches 1,600* [No./%]
North
11
485/30%
90
10

71
102 West East
493/31% 122/8%
1
86
66
5
22 1
South
1
500/31%
155 46 9
42
22
Branch Classification
2 19

329

87

7
109 No of ATMs
180

90 2,519
34

25
* Does not include branches in DIFC, Dubai & GIFT city, Gujarat
 Bank Awards & Recognition Banker’s Choice Awards
- Best Cash Mgt Bank
India Banking Summit &
- Best Supplier
Awards 2019
Relationship Mgt
- Best product Innovator
- Best E-commerce
of the year for
Initiative, Application
Whatsapp Banking
or Programme: “Kotak
- Best Customer Service
AsiaMoney Best Bank ALLPAY”
Provider of the Year
Awards, 2020 The Asian Banker
Best Corporate and DX Summit & Awards Transaction Banking
Investment Bank Best Practice in Digital Awards, 2019:
AsiaMoney Best Bank Transformation 2019 for - Best Cash Mgmt. Bank Mr. Uday Kotak
Awards, 2020 Project Velocity - Best Productivity,
Best Corporate and Lifetime Achievement
Investment Bank Published by The legal 500 Efficiency & Automation Award
GC Powerlist Indian Teams Initiative, Application or Magna Awards 2019 by
India Digital Awards, 2020 2019 Programme –Kotak Bank Businessworld
Best use of Bots - WhatsApp ‘Smart Collect’
Banking India Fintech Awards CEO of the Year Award
(IFTA) 2019 Magna Awards 2019 by CNBC-Awaaz CEO Awards
Best Tech Awards 2020 : Business world 2018
AI/ Machine Learning category Most Innovative Bank of the
year - Best Mid- Size Bank
for KEYA (AI powered Voicebot Global Leadership Award
- Fastest growing Mid size
& Chatbot FE India’s Best Bank USIBC Global Leadership
Bank
Awards Award
Indian Marketing Awards Ms. Shanti Ekambaram
2019: Best Savings Bank Product Banker of the Year
- 811 #IndiaInvited The 50 most powerful Businessworld Magna
DMAI International Echo : women by Fortune
- Best Use of Integrated Awards 2018
811 #IndiaInvited Campaign India
Marketing Campaign
811 #BenchofUnity The League of American The Most powerful Best CEO in Banking sector
- Gold in category ‘Use of Communications Women in Business Business Today Best CEO
Consumer Insight’ Professionals 2019 spotlight 2019 Awards 2019 26
Business Today
Global Customer Engagement awards Mr. Jaimin Bhatt
Awards 2019 – Gold Awards : Annual report titled – 13th ICAI Awards
‘Courage of Conviction. CA Business Leader CFO Award
- Digital Marketing category
Constancy of change’ - Bronze Award For Sustained Excellence
#NoOneLikeMom Campaign
Over a Decade
 Awards and Recognition

Thomson Reuters Lipper India 2019 fund

Awards – India Fund Award for Kotak
Equity Arbitrage Fund
Euromoney Private Banking and Regular Plan–Growth Option (5 yrs & 10 yrs)
Wealth Management Survey, 2019
Ranked #1 Best Value Creater Fund Debt : Business
- Best Private Banking Services 2019 Finance Asia Country Awards Today – Money Today Financial Awards
Overall Best Broker 2018-2019
- Net worth Specific Services (Ultra Gold at ACEF for Email marketing & Corporate Bond Fund
HNI, HNI, Super affluent clients) successful of technology 2019 CIO100 Award
- Family Office Services
- Research and Asset Allocation Asiamoney Brokers poll
Advice Ranked first in India in 2019
- Philanthropic Advice
Asiamoney Brokers poll
PWM/ The Banker Global Best for overall research (India) in 2019
Private Banking Awards
Best Private Bank, India

Finance Asia Achievement Best Securities Houses in Asia Awards

Awards Best securities house in India in
Best India Deal - Embassy Office Asiamoney’s 2019
REIT $690 million The Asset Triple A Country Awards 2019
- Best Equity Advisor, India
Global Finance - Best M&A advisor
Best Private Bank for New VCCircle Awards 2020 Winner - Best IPO, India Embassy Office parks
customer segments globally Fund Raiser of the Year - Private REIT US$688mn IPO
Equity (KIAL ) - Best QIP, India for Godrej Properties
US$302 mn QIP
Global Finance 2020 Private
- Best rights issue, India, for Vodafone
Bank Awards honouree
Idea’s US$3.6 bn rights issue 27
Disclaimer
This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the
purchase or sale of any security of Kotak Mahindra Bank Limited (the “Bank”) and no part of it shall form the basis of or be relied upon in
connection with any contract or commitment whatsoever. No offering of securities of the Bank will be made except by means of a
statutory offering document containing detailed information about the Bank.
This presentation is not a complete description of the Bank. Certain statements in the presentation contain words or phrases that are
forward looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual
results to differ materially from those contemplated by the relevant forward looking statement. Any opinion, estimate or projection
herein constitutes a judgment as of the date of this presentation, and there can be no assurance that future results or events will be
consistent with any such opinion, estimate or projection. The information in this presentation is subject to change without notice, its
accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Bank. We
do not have any obligation to, and do not intend to, update or otherwise revise any statements reflecting circumstances arising after the
date of this presentation or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.
All information contained in this presentation has been prepared solely by the Bank. No information contained herein has been
independently verified by anyone else. No representation or warranty (express or implied) of any nature is made nor is any responsibility
or liability of any kind accepted with respect to the truthfulness, completeness or accuracy of any information, projection,
representation or warranty (expressed or implied) or omissions in this presentation. Neither the Bank nor anyone else accepts any liability
whatsoever for any loss, howsoever, arising from any use or reliance on this presentation or its contents or otherwise arising in
connection therewith. This presentation may not be used, reproduced, copied, distributed, shared, or disseminated in any other manner.
The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation
comes should inform themselves about, and observe, any such restrictions.
Figures for the previous period/ year have been regrouped wherever necessary to conform to current period’s / year’s presentation.
Totals in some columns/ rows may not agree due to rounding off.

Contact
Jaimin Bhatt / Abhiram Bhattacharjee
Kotak Mahindra Bank Limited
Tel: +91 22 61660000
E-mail: investor.relations@kotak.com

28