Kotak Mahindra Bank Ltd (KOTAKBANK)

Mixed Results for Kotak Mahindra Bank - 13 May, 2024

Despite reporting strong financial results, Kotak Mahindra Bank's shares have dropped over the past year. Analysts remain mixed on the bank's future prospects, with CLSA raising their target price while JP Morgan maintains a neutral rating. The bank is also aiming to improve its tech infrastructure.

Kotak Mahindra Bank Stock Falls After RBI Directives - 10 May, 2024

Kotak Mahindra Bank's stock fell by 10% in April following the Reserve Bank of India's directives prohibiting the bank from acquiring new customers via digital channels and issuing new credit cards. Additionally, the bank announced the resignation of its joint managing director.

Kotak Mahindra Bank Faces RBI Restrictions on Onboarding New Customers - 09 May, 2024

Kotak Mahindra Bank faces restrictions from RBI on onboarding new customers and issuing fresh credit cards due to IT risk management deficiencies. The bank estimates an impact of Rs 300-450 crore PBT in FY25. Arvind Kathpalia served as President and Group Chief Risk Officer.

Kotak Mahindra Bank Faces RBI Scrutiny, Plans to Upgrade Technology Systems - 08 May, 2024

Kotak Mahindra Bank is facing regulatory scrutiny over lapses in its IT infrastructure, leading to restrictions on adding clients digitally and issuing credit cards. The bank plans to address these issues by hiring 400 engineers and doubling its efforts and resources towards upgrading its technology systems. Despite exceeding revenue forecasts, the consensus price target fell 6.8%, reflecting weaker earnings outlook.

Mixed Sentiments Surround Kotak Mahindra Bank - 07 May, 2024

Kotak Mahindra Bank faces regulatory action, but reports strong Q4 earnings. Analysts reduce/share targets while Prabhudas Lilladher recommends a buy rating.

Kotak Mahindra Bank Q4 Results Beat Estimates - 06 May, 2024

Kotak Mahindra Bank's Q4 standalone net profit rose 17.6% YoY to Rs 4,133.30 crore, beating estimates. Brokerages upgraded the bank despite concerns over RBI embargo and management stability. Emkay Global Financials reduced the stock and cut the target price due to uncertainties.

Kotak Mahindra Bank Reports Strong Q4 Results Amid Technology Concerns - 05 May, 2024

Kotak Mahindra Bank reports an 18% rise in Q4 net profit driven by healthy loan growth. The bank is stepping up efforts to resolve technology concerns raised by the regulator. JP Morgan upgrades the stock to overweight with a target price of Rs 2070 per share.

Kotak Mahindra Bank Reports Strong Q4 Results Amid Technology Concerns - 04 May, 2024

Kotak Mahindra Bank reports a strong Q4FY24 net profit of Rs 4133 crore, up by 18% YoY. The bank also declares a dividend of Rs 2 per share for FY24. Former deputy MD KVS Manian resigns while the bank is stepping up efforts to resolve technology concerns raised by the regulator.

Kotak Mahindra Bank Faces Multiple Challenges - 03 May, 2024

Kotak Mahindra Bank faces multiple challenges including declining profits, regulatory action, senior management exits, and technical breakdown. The bank has been barred from acquiring new customers via its online channels and issuing credit cards due to IT deficiencies. Analysts predict a decline in Q4 net profit despite steady loan growth and controlled asset quality. Technical analysis suggests continuous selling pressure with downside potential of Rs 1480-1450 levels.

Kotak Mahindra Bank Faces Multiple Setbacks - 02 May, 2024

Kotak Mahindra Bank faces multiple setbacks including the resignation of its Joint MD, KVS Manian, and being barred by the RBI from onboarding new customers online or issuing new credit cards. Brokerages have lowered their target price on the bank's stock due to concerns about leadership and digital capabilities.

Kotak Mahindra Bank Faces Crisis in Digital Banking Business - 01 May, 2024

Kotak Mahindra Bank's Joint Managing Director has resigned following RBI's restrictions on new credit card issuances due to unaddressed supervisory concerns and frequent tech outages. The bank is undergoing a crisis in its digital banking business, and analysts find its valuations expensive against peers.

Kotak Mahindra Bank Faces Business Restrictions, Executive Resignation - 30 Apr, 2024

Kotak Mahindra Bank faces severe business restrictions from RBI, including a ban on selling new credit cards. KVS Manian resigns as Joint MD with immediate effect.

RBI Bars Kotak Mahindra Bank From Onboarding New Customers Via Digital Route - 29 Apr, 2024

The Reserve Bank of India has barred Kotak Mahindra Bank from onboarding new customers and issuing fresh credit cards via the digital route due to significant concerns identified during IT examinations. S&P Global Ratings warns that this could restrain the lender's credit growth and profitability.

Kotak Mahindra Files Draft Papers for Special Opportunities Fund - 28 Apr, 2024

Kotak Mahindra is among three asset management companies that have filed draft papers for the Special Opportunities Fund. Analyst Deven Choksey recommends buying Kotak Bank during market corrections.

RBI Ban Restrains Growth Trajectory of Kotak Mahindra Bank - 27 Apr, 2024

Kotak Mahindra Bank has been directed by the RBI to stop onboarding new customers and issuing fresh credit cards due to serious deficiencies. S&P Global Ratings warns that this could restrain credit growth and profitability, while Motilal Oswal Financial Services predicts adverse impacts on margins and profitability.

Kotak Mahindra Bank Shares Plunge After RBI Restrictions - 26 Apr, 2024

Kotak Mahindra Bank's market capitalisation shrinks by ₹39,322 crore in two days after RBI imposes restrictions on online customer onboarding and credit card issuance due to serious IT deficiencies. Brokerages predict limited impact on business and profitability, while S&P Global Ratings warns of potential setbacks. Uday Kotak's wealth dips by $1.3 billion.

Kotak Mahindra Bank Hit with RBI Restrictions - 25 Apr, 2024

The Reserve Bank of India has barred Kotak Mahindra Bank from onboarding new customers and issuing credit cards due to unaddressed supervisory concerns emerging from the regulator's IT examination for FY22-23.

RBI Bars Kotak Mahindra Bank From Onboarding New Customers Online - 24 Apr, 2024

Kotak Mahindra Bank has been barred by the Reserve Bank of India (RBI) from onboarding new customers through online and mobile banking channels and issuing fresh credit cards due to concerns over its IT systems. While existing customers are unaffected, industry experts predict a 5% correction in the short term and warn that the decision could negatively impact co-branded card deals.

Kotak Mahindra Bank to Launch Revamped Mobile App for Digital Banking Arm - 22 Apr, 2024

Kotak Mahindra Bank is set to launch a revamped mobile application for its digital banking arm, Kotak811, and another app offering payment services. The move comes as the bank aims to aggressively expand in the digital banking space amid competition from rivals. In Q3 FY24, 95% of personal loans disbursal, 99% of credit card sales, and 79% of new business came through the lender's digital business.

Kotak Mahindra Bank's Share Price Up 30% in Last Five Years, But Disappointing Last Year - 20 Apr, 2024

Kotak Mahindra Bank's share price has grown by 30% over the last five years, but was down 5.3% in the last year. Despite growing earnings per share at an impressive rate of 19% a year, the yearly share price gain of 5% over the same period suggests that the market is not enthusiastic about the stock.