Interim report
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Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137 Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Telephone: +91 22 61660001 Bandra (E), Mumbai 400051, Website: www.kotak.bank.in Maharashtra, India. Corporate e-mail: KotakBank.Secretarial@kotak.com This is a Confidential document. October 24, 2026 BSE Limited Mumbai 400 001 National Stock Exchange of India Limited Mumbai 400 051 BSE Scrip Code: 500247, 974396, 974682, 974924, 975387 NSE Symbol: KOTAKBANK, KMB29, KMB30 India International Exchange (IFSC) Limited Gandhinagar 382050 India INX Scrip Code: 500082 NSE IFSC Limited Gandhinagar 382050 NSE IX Symbol: KMBL 5.478 Dear Sirs, Sub: Outcome of Board Meeting - Consolidated and Standalone Unaudited Financial Results of the Bank for the quarter and half-year ended September 30, 2026 Pursuant to Regulations 30, 33, 51 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), this is to inform you that the Board of Directors of Kotak Mahindra Bank Limited ("Bank") have, at their meeting held today, inter alia, considered, reviewed and approved the Consolidated and Standalone Unaudited Financial Results of the Bank, for the quarter and half-year ended September 30, 2026 (“Financial Results”), as recommended to them by the Audit Committee. A copy of the said Financial Results, along with the Limited Review Report thereon, submitted by the Joint Statutory Auditors of the Bank, is enclosed herewith. The Board Meeting today commenced at 10.30 a.m. (IST) and consideration of the item on approval of the Financial Results, as stated above, concluded at 1.00 p.m. (IST). The proceedings of the Board Meeting are in progress at the time of filing of this disclosure. The above information is also being hosted on the Bank's website https://www.kotak.bank.in/en/investor- relations/governance/sebi-listing-disclosures.html in terms of the Listing Regulations. This is for your information and appropriate dissemination. Thanking you, Yours faithfully, For Kotak Mahindra Bank Limited Avan Doomasia President & Company Secretary Encl.: as above
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Deloitte Haskins & Sells Chartered Accountants 19th Floor, Shapat h-V S.G. Highway Ahmedabad - 380 015 Gujarat, Ind ia Tel: +9179 6682 7300 Fax: +91 79 6682 7400 M M NISSIM & CO LLP Chartered Accountants Barodawa la Mansion B-Wing, 3rd Floor, 81, Dr. Annie Besant Road, Worli, Mumbai - 400 018 Independent Auditors' Review Report on unaudited consolidated financial results for the quarter and half year ended 30 Septe mber 2026 of Kota k Mahindra Bank Limited pursuant to Regulation 33 of the Securitie s and Exchange Board of India (Li sting Obligations and Disclosure Req uirement s) Regulations, 2015, as amended. To the Board of Directors of Kotak Mahindra Bank Limited 1. We have reviewed the accompany ing statement of unaudited conso lidated financial results of Kotak Mahindra Bank Limited (the "Parent" or the "Bank"), its subsidiaries (the Parent and its subsidiar ies togethe r referred to as 'th e Group') and its share of the net profit after tax of its associates for the qua rte r and half year ended 30 Septembe r 2026 (the "Statement"), being submitted by the Bank pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (List ing Obligations and Disclosure Requirements) Regulations, 2015, as amende d (the "Listi ng Regulations"), except for the disclosures relating to consolidated Pillar 3 as at 30 September 2026, including leve rage ratio, liquidity coverage ratio and net stab le funding ratio under Basel III Capital Regulations wh ich will be disclosed on th e Bank's website and in respect of which a link has been prov ided in Note 9 of th e Statement and which have not been reviewed by us. We have initiall ed the Statemen t for identificat ion purposes only. 2. This Statement, which is the respons ibility of the Bank's Management and has been approved by the Bank's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accountin g Standa rd 25, Interim Financial Reporting ("AS 25"), prescribed under Section 133 of the Compani es Act, 2013 (the "Act") read wit h relevan t rules issued th ereunde r, in so far as they apply to Banks, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of Ind ia ("RBI ") from tim e to time (the "RBI Guidelines") and other account ing principles generally accepted in India, and in compliance with Regulat ion 33 of the Listing Regulations. Our responsibil ity is to exp ress a conclusion on the Statement based on our review. 3. We conducted our review of th e Statement in accordance with th e Standar d on Review Engagements (SRE) 2410 - 'Review of Interim Financial Information Performed by the Independe nt Auditor of the Entity' issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiri es, primarily of Bank's personnel responsib le for fin ancial and accounting matters and app lying ana lytical and other review procedures . A review is substantia lly less in scope than an audit conducted in accordance with the Standards on Auditing specif ied und er Section 143 (10) of the Companies Act, 2013, and consequent ly does not enable us to obtain assurance that we would become aware of all significa nt matters that might be identified in an audit. Accord ingl y, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Secur iti es and Exchange Board of India under Regulation 33(8) of the Listing Regulat ions, as amended, to the extent applicable.
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Deloitte Haskins & Sells MM NISSIM & CO LLP Chartered Accountants 4. The Statement includes the results/information of the entities referred in Annexure 1. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors, referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in AS 25, prescribed under Section 133 of the Act read with relevant rules issued thereunder, in so far as they apply to Banks, the RBI Guidelines, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement, except for the disclosures relating to consolidated Pillar 3 disclosure as at 30 September 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations which will be disclosed on the Bank's website and in respect of which a link has been provided in Note 9 of the Statement and which have not been reviewed by us. 6. We did not review the interim financial results of 3 subsidiaries, included in the Statement, whose interim financial results reflects total assets of z 68,669.41 crore (before consolidation adjustments) as at 30 September 2026 and total revenues of z 2,194.69 crore and z 4,688.08 crore (before consolidation adjustments) for the quarter and half year ended 30 September 2026 respectively and total net profit after tax of z 616.92 crore and z 1,422.95 crore (before consolidation adjustments) for the quarter and half year ended 30 September 2026 respectively, and cash inflows(net) of z 1,585.44 crore (before consolidation adjustments) for the half year ended 30 September 2026. These interim financial results have been reviewed by other auditors whose review reports have been furnished to us by the Bank's Management, and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the review reports of such other respective auditors, and the procedures performed by us as stated in paragraph 3 above. The interim financial results of a subsidiary included in the Statement, whose interim financial results reflects total assets of z 48,479.61 crore (before consolidation adjustments) as at 30 September 2026 and total revenues of z 1,590.87 crore and z 3,400.23 crore (before consolidation adjustments) for the quarter and half year ended 30 September 2026 respectively and total net profit after tax of z 347.68 crore and z 880.51 crore (before consolidation adjustments) for the quarter and half year ended 30 September 2026 respectively, and cash inflows (net) of z 300.26 crore (before consolidation adjustments) for the half year ended 30 September 2026, as considered in the Statement, has been reviewed by Deloitte Haskins & Sells, whose report has been furnished to us by the Bank's Management. Accordingly, conclusion of M M NISSIM & CO LLP, the other joint auditor of the Bank, on the Statement in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the review report of the other joint auditor of the Bank, and the procedures performed by us as stated in paragraph 3 above.
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Deloitte Haskin s & Sells M M NISSIM & CO LLP Chartered Accountants Further, interim financial results of a subsid iary included in the Statement, whose interim financia l results reflect s total assets of n,13,215.55 crore (before consolidation adjustments) as at 30 September 2026 and tota l revenues of ;1'6,361. 33 crore and ;1' 14,670.83 crore (before consolidation adj ustments) for the quarte r and half year ended 30 September 2026 respectively and tota l net profit after tax of ;1' 198. 27 crore and ;1' 534 .17 crore (before consolidation adjustme nts) for the quarter and half year ended 30 September 2026 respectively, and cash outflo ws(net) of ;1' 965.48 crore (before consolidation adj ustments) for the half year ended 30 Septemb er 2026, as considered in the Statement, has been rev iewed by M M NISSIM & CO LLP along with other joint auditor of the subsidia ry, whose report has been furnished to us by th e Bank's Management. Accordingly, conclusion of Deloitte Haskins & Sells, the other joint auditor of the Bank, on th e Statement in so far as it relates to th e amo unts and disclosures included in respect of this subsidiary, is based solely on the review report of the oth er joint auditor of the Bank along with other joint auditor of the subsidiary, and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of these matters . 7. The Statement includes the interim financial information of 13 subsidiaries, which have not been rev iewed by their respective auditors, and whose interim financia l information reflec ts total assets of ;1' 13,825 .85 crore (before consolidation adjustments) as at 30 September 2026 and total revenues of ;1' 837 .24 crore and ;1' 1,712.00 crore (before consolidation adjustments) for the quarter and half year ended 30 September 2026 respectively and total net profit after tax of ;1' 286. 71 crore and z 634.19 crore (before consolida tion adj ustments) for the quarter and half year ended 30 September 2026 respective ly, and cash outflows (net) of ~ 351.59 crore (before conso lidation adjustments) for the half year ended 30 September 2026 . The State ment also includes the Group's share of net profit after tax of~ 11.31 crore and ;1' 4. 71 crore for th e quarter and half year ended 30 September 2026 respect ively, as considered in the Statement, in respect of 2 associates, which have not been reviewed/a udited by their respect ive auditors and whose interim financial informatio n has been fu rnished to us by the Bank's Manageme nt. Accord ing to the information and exp lanat ions given to us by the Management, interim financial inform ation of these entit ies is not materia l to the Group . Our conclusion on the Statement is not modified in respect of th is matter.
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Deloitte Haskins & Sells M M NISSIM & CO LLP Chartered Accountants 8. The following other matter paragraph has been included in the review report on Unaudited Special Purpose Financial Information of Kotak Mahindra Life Insurance Company Limited ('K-LIFE'), the subsidiary of the Bank, issued by one of the joint auditors of the Bank along with the other joint auditor of K-LIFE vide their report dated October 21, 2026: "The actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at September 30, 2026 is the responsibility of the Company's Appointed Actuary (the "Appointed Actuary"). The actuarial valuation of the liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at September 30, 2026 has been duly certified by the Appointed Actuary and in his opinion, the actuarial liabilities have been calculated in accordance with generally accepted actuarial principles, the requirements of the Insurance Act, 1938, Insurance Act (Amendment), 2015, relevant IRDA regulations and the Actuarial Practice Standards and Guidance Notes of the Institute of Actuaries of India. We have relied upon the Appointed Actuary's certificate in this regard during our review of the valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at September 30, 2026, as contained in the Unaudited Special Purpose Financial Information of the Company. Our conclusion is not modified in respect of this matter." Our conclusion on the Statement is not modified in respect of this matter. For Deloitte Haskins & Sells Chartered Accountants {Firm Registration No. 117365W) G. K. Subramaniam Partner Membership No. 109839 UDIN: 26109839DIAUMG3369 Place: Mumbai Date: 24 October 2026 For M M NISSIM & CO LLP Chartered Accountants {Firm Registration No. 107122W/W100672) h Sanjay Khemani Partner Membership No. 044577 UDIN: 26044577WKLRBF2128 Place: Mumbai Date: 24 October 2026
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Deloitte Haskins & Sells Annexure 1 List of entities included in the Statement Parent Company Kotak Mahindra Bank Limited Domestic Subs idiaries Kotak Mahindra Prime Limited Kotak Mahindra Inve stme nts Limited Kotak Securit ies Limit ed Kotak Mahindra Capital Company Limited Kotak Mahindra Life Insurance Compa ny Limited Kotak Mahind ra Asset Management Company Limited Kotak Mahindra Trustee Company Limited Kotak Mahindra Pension Fund Limited M M NISSIM & CO LLP Chartered Accountants Kotak Alternate Asset Managers Limit ed (erstwh ile known as Kotak Investment Advisors Limited) Kotak Mahindra Trust eeship Services .Limited Kotak Infrastru cture Debt Fund Limited IVY Product Intermediaries Limited BSS Sonata Microcredit Limited (erstwhile known as BSS Microfinance Limited) * International Subsidiaries Kotak Mahindra (UK) Limited Kotak Mahindra (Internationa l) Limited Kotak Mahindra Inc. Kotak Mahindra Financial Services Limit ed Kotak Mahindra Asset Management (Singapore) Pte. Limited Associate Compan ies# Phoenix ARC Limit ed (formerly known as Phoenix ARC Private Limited) Zurich Kotak Genera l Insurance Company (Indi a) Limited (erstwhi le known as Kotak Mahindra Genera l Insurance Company Limit ed) Notes: *Sona ta Finance Private Limit ed has merg ed with BSS Microfin ance Limit ed. The scheme of Ama lgamation has been made effective on and from 11 Octob er, 202 5 with appointed date of 1 April, 2025. # On 24 March 2026, Kotak Mahindra Capital Company Limited, a wholly owned subsidiary of the Bank dive sted 30.99% out of its total stake of 49.99% in its associate Infina Finance Private Limit ed ("Infina"), consequent to this sale, Infina ceases to be an associate company of the Bank with effect from 24 March 2026.
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Sr No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 $ kotak KOTAK MAH INDRA BANK LIMITED (CONSOLIDATED) CIN: L65110MH1985PLC038137 Registered Office: 27BICC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 301H SEPTEMBER, 2026 Quarter ended Half year ended Particulars 30-Sep-26 30-June-26 30-Sep-25 30-Sep-26 30-Sep-25 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Interest earned (a+b+c+d) 19,855.87 18,354 .57 17,198 .74 38,210.44 34,447.05 (a) Interest/ discount on advances/bi lls 14,176.25 13,222.28 12,425.6 1 27,398.53 24,771.80 (bl Income on investment s 4,623.75 4,270.42 4,120.7 4 8,894. 17 8,388.82 (c) Interest on balances with Reserve Bank of India (RBI) & other interb ank 784.06 659.17 469.78 1,443.23 940.68 funds (d) Others 271.81 202.70 182.61 474.51 345.75 Other income (a+b+c) 9,571 .01 11,714 .03 7,702 .65 21,285 .04 17,158.26 (a) Profit/( Loss) on sale of Investme nts including revaluation (427.94) 3,118.58 (633.02) 2,690.64 1,751.26 for insurance business (bl Premium on Insurance Business 5,25 1.43 3,568. 22 4,347.19 8,819 .65 7,105.3 1 (c) Other income (Refer Note 4) 4,747.52 5,027.23 3,988. 48 9,774.75 8,301.69 Total income (1+2) 29,426.88 30,068.60 24,901 .39 59,495.48 51,605.31 Interest expended 8,680 .60 7,702.54 7,332 .56 16,383. 14 14,859.65 Operating expen ses (a+b+c) 12,395.55 14,092.37 10,551.64 26,487.92 22,353.90 (a) Employees Cost 3,368.84 3,300 .49 3,079.79 6,669.33 6,189.99 (bl Policy holders' reserves, surrender expense and claims (insurance 4,823.75 6,863.08 3,832.14 11,686.83 8,992.08 business) (Refer Note 5) (c) Other operatin g expen ses 4,202.96 3,928 .80 3,639 .71 8,13 1.76 7,171.83 Total expenditur e (4+5) 21,076 .15 21,794 .91 17,884.20 42,871.0 6 37,213.55 (excluding provisio ns and contingencies) Operating profit (3-6) (Profit before provisions and 8,350.73 8,273.69 7,017 .19 16,624.42 14,391.76 contingencies) Provi sions (oth er than tax) and 820.43 764.83 1,585.26 contingencies (Refer Note 6) 1,054.42 2,375.59 Exceptional items (Refer Note 7) - - - Profit from ordinary activities befor e tax 7,530.30 7,508.86 5,962 .77 15,039.16 12,016 .17 (7-8+9) Tax expense 1,896.23 2,021.80 1,516.83 3,918 .03 3,141 .10 Net Profit from ordin ary activitie s after 5,634.07 5,487.06 4,445 .94 11,121.13 8,875.07 tax before Minority Inter est (10 -11) Extraordinary items (net of tax expense) - - - - - Net Profit after ta x befor e M inority 5,634.07 5,487.06 4,445 .94 11,121.13 8,875.07 Interest (12 -13) Less: Share of Minority Interest - - Add: Share in Profit/( Loss) of associates 11.31 (6.60) 22.33 4.71 65.38 Profit after tax (14-15+16) 5,645.38 5,480.46 4,468.27 11,125. 84 8,940.45 Paid Up Equity Capital (Face value of 994.79 994.67 994.30 994.79 994.30 f 1 per share) (Refer Note 8) Group Reserves (excludin g Minority Interest and Revaluation reserves) Min ority Interest - - - - f crore Year ended 31-Mar-26 (Audited) 69,781 .21 50,380 .92 16,561.15 2,143.75 695.39 37,782 .49 (319.07) 21,033.11 17,068.45 107,563.70 29,619.98 48,418.40 12,963.80 20,088.76 15,365.84 78,038 .38 29,525 .32 3,900.39 367.79 25,992 .72 6,812 .10 19,180.62 19,180 .62 107.27 19,28 7.89 994.65 180,118.10 -
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$ kotak f crore Quarter ended Half year ended Year ended Sr Particulars 30-Sep-26 30-June-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 No (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Earnings per equity share before and after 21 extraordinary items (net of tax expense) (Face value off 1 per share) (Refer Note 8) - Basic (not annualised) f 5.68 5.51 4.49 11.19 8.99 19.40 - Diluted (not annualised) f 5.67 5.51 4.49 11.18 8.99 19.39 Consolidated Segment Reporting The reportable consolidated segments of the Bank are as under: Segment Principa l activity Corporate/ Wholesale Wholesale borrowing s and lending and other related services to the corporate sector, which are not Banking included under retail banking Retail Banking Comprises of: Digita l Banking Business involving digi tal banking products acquire d by Digital Banking Unit including existing digital banking products as iden ti fied by t he Management in accordance with the instr uctions of the RBI vide its circular dated 7t h April, 2022 Other Retail Banking Includes retail lending, deposit taking and othe r retail services/ prod ucts other than above Treasury, BMU and Money market, forex market, derivatives, investments and prima ry dealership of government securities, Corporat e Centre Balance Sheet Management Unit (BMU) responsible fo r Asset Liability Management and Corporate Centre, which primarily comprises of support functions Vehicle Financing Retail vehicle finance and who lesale trade finance to auto deale rs from its Subsidiary Company Other Lending Activ ities Securitisatio n and other loans/ services from its Subsidiary Companies Broking Brokerage income on market transactions done on behalf of clients, inte rest on delayed payments, distri bution of financial prod ucts from its Subsidiary Company Advisory and Providing financial advisory and transactio nal services such as mergers and acquisition advice, equity/ Transactional Services debt issue management services and Business Correspondent services from its Subsidiary Companies Asset Management Manage ment of fu nds and investments on behalf of clients and investment distribution fro m its Subsidiary Companies Insurance Life Insurance business of its Subsidiary f crore Sr Quarter ended Half year ended Year ended No Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Segment Revenues: Treasury, BMU and Corporate Centres 3,828.4S 3,657.11 3,132.57 7,485.56 6,840.81 13,391.07 Retail Banking* 9,314.00 8,341.25 8,343.93 17,655.25 16,994.48 34,434.33 (i) Digital Banking 731.44 670.99 563.25 1,402.43 1,108.66 2,407.59 (ii) Other Retail Banking 8,582.56 7,670.26 7,780.68 16,252.82 15,885.82 32,026.74 Corporate/ Wholesale Banking 8,173.33 7,016.63 6,699.89 15,189.96 12,966.95 26,158.79 Vehicle Financing 1,124.76 1,213.11 1,084.97 2,337.87 2,170.42 4,357.79 Other Lending Activities 344.79 583.26 570.24 928.05 1,106.67 2,265.81 Broking 1,394.50 1,357.39 1,127.75 2,751.89 2,218.34 4,716.22 Advisory and Transactiona l Services 341.05 248.54 230.17 589.59 454.44 1,109.59 Asset Management 923.79 1,070.74 823.95 1,994.53 1,690.44 3,358.52 Insurance 6,361.33 8,309.50 5,072.74 14,670.83 11,542.48 26,011.37 Sub-total 31,806.00 31,797.53 27,086.2 1 63,603.53 55,985.03 115,803.49 Less: inter-segment revenues 2,379.12 1,728.93 2,184.82 4,108.05 4,379.72 8,239.79 Total Income 29,426.88 30,068.60 24,901.39 59,495.48 51,605.31 107,563.70 2 Segment Results: Treasury, BMU and Corporate Centre• 1,345.48 1,820.91 1,144.90 3,166.39 2,468.08 5,723.27 Retail Banking* 1,987.05 1,429.97 1,437.76 3,417.02 2,517.96 5,653.21 (i) Digital Banking 20.28 16.02 10.75 36.30 12.46 77.63 (ii) Other Retail Banking 1,966.77 1,413.95 1,427.01 3,380.72 2,505.50 5,575.58 Corporate/ Wholesale Banking 2,430.64 2,092.51 1,984.54 4,523.15 3,862.61 8,269.11 Vehicle Financing 189.54 307.27 198.35 496.81 406.04 795.91 Other Lending Activities 170.78 173.94 179.61 344.72 348.85 651.58
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e kotak Sr Quarter ended Half year ended No Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Broking 408.32 412.05 353.35 820.37 699.08 Advisory and Transactional Services 129.01 33.79 17.01 162.80 40.67 Asset Management 548.10 766.51 515.02 1,314.61 1,092.57 Insurance 321.38 471.91 132.23 793.29 580.31 Profit before tax, minority interest 7,530.30 7,508.86 5,962.77 15,039.16 12,016.17 and share of associates 3 Segment Assets: Treasury, BMU and Corporate Centre 291,570.95 226,648.99 211,488.44 291,570.95 211,488.44 Retail Banking* 577,122.85 499,460.83 459,3 11.00 577,122.8 5 459,311.00 (i) Digital Banking 108.77 66.24 123.77 108.77 123.77 (ii) Other Retail Banking 577,014.08 499,394.59 459,187.23 577,014.08 459,187.23 Corpora te/ Whol esale Banking 379,849.22 339,005.33 298,530.28 379,849 .22 298,530.28 Vehicle Financing 39,167.17 37,025.03 32,836.97 39,167.17 32,836.97 Other Lending Activities 14,897.03 22,556.30 23,137.07 14,897.03 23,137.07 Broking 39,236.03 36,080.09 28,794.62 39,236.03 28,794.62 Advisory and Transactional Services 1,421.65 1,188.13 1,257.44 1,421.65 1,257.44 Asset Management 10,643.75 10,278.33 9,154.78 10,643.75 9,154.78 Insurance 114,511.31 112,388.37 99,207 .95 114,511.31 99,207.95 Sub-total 1,468,419.96 1,284,631.40 1,163,71 8.55 1,468 ,419.96 1,163,718.55 Less: inter -segment asset s 345,330.00 276,588.71 252,215.20 345,330.00 252,215.20 Total 1,123,0 89.96 1,008,042.69 911,503.35 1,123, 089.96 911,503 .35 Add: Unallocated Assets 1,312.19 1,322.93 1,449.06 1,312.19 1,449.06 Total Assets as per Balance Sheet 1,124,402.15 1,009,365.62 912,952.41 1,124,402 .15 912,952.41 4 Segment Liabilities: Treasury, BMU and Corporate Centre 228,200.92 162,249 .15 160,058.50 228,200.92 160,058.50 Retail Banking* 519,688.74 444,014 .01 409,322.11 519,688.7 4 409,322.11 (i) Digital Banking 31,242.54 28,388.05 21,652.40 31,242.54 21,652.40 (ii) Other Retail Banking 488,446.20 415,625.96 387,669.71 488,446 .20 387,669.71 Corporate / Wholesale Banking 341,414.71 304,181.51 266,952.09 341,414 .71 266,952.09 Vehicle Financing 29,295.52 27,784.86 19,034.81 29,295.52 19,034.81 Other Lending Activities 10,303.47 18,285.77 21,044.22 10,303.47 21,044.22 Broking 34,888.71 31,780.47 25,503.57 34,888 .71 25,503.57 Advisory and Transact ional Services 269.94 208.52 262.19 269.94 262.19 Asset Management 714.89 749.19 783.41 714.89 783.41 Insurance 106,216.28 104,027 .92 91,493.45 106,216.28 91,493.45 Sub-total 1,270,993. 18 1,093,281 .40 994,454.35 1,270,993 .18 994,454.35 Less: inter-seg ment liabilities 345,330.00 276,588 .71 252,215.20 345,330.00 252,215.20 Total 925,663 .18 816,692.69 742,239 .15 925,663.18 742,239.15 Add: Unallocated liabilities 4,033.27 4,459.24 2,778.02 4,033.27 2,778.02 Add: Share Capital, Reserves & Surplu s 194,705.70 188,213 .69 167,935.24 194,705.70 167,935.24 & Minori ty Interest• Total Capital and Liabilities as per 1,124 ,402.15 1,009 ,365.62 912,952.41 1,124,402 .15 912,952.41 Balance Sheet Segment results are net of segment revenues and segment expenses includ ing interdivisiona l items. (*) RBl's Master Direction on Financial Statements - Presentat ion and Disclosures, requires to divide the 'Retail banking' into (i) Digital Banking (as defined in RBI circul ar on Establishment of Digital Banking Units dated 7th April, 2022) and (ii) Other Retail Banking segment. (SJ Excluding exceptio nal item in Note 7 (") Includin g except ional item in Note 7 f crore Year ended 31-Mar-26 (Audited) 1,505.71 241.80 2,062.46 1,089.67 25,992.72 268,380.43 499,201.58 221.25 498,980.33 308,807.68 36,883 .33 22,665.82 31,103 .15 1,248.85 9,981.69 107,554.72 1,285,827.25 283,859.29 1,001,967.96 1,384.83 1,003,352.79 214,097.89 445,584.36 25,490.96 420,093.40 272,372.91 20,136.51 23,772.07 26,584.97 318.34 569.53 99,361.09 1,102,797.67 283,859 .29 818,938.38 3,301.66 181,112.75 1,003,352.79
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$ kotak Summarised Consolidated Balance Sheet of the Bank is given belo w : :!' cror e As at As at As at Particulars 30-Sep-26 30-Sep-25 31-Mar-26 (Unaudited) (Unaudited) (Audited) CAPITAL AND LIABILITIES Capital 994.79 994.30 994.65 Employees' Stock Opti ons (Grants) Outstanding 139.25 100.18 113.12 Reserves and Surplus 193,710.91 166,940.94 180,118.10 Deposits 647,459.43 524,499.69 566,940.33 Borrowing s 123,119.51 82,700.03 95,393.53 Policyholder's Funds 103,927.60 89,849.11 96,168.34 Other Liabilit ies and Provisions 55,050.66 47,868.16 63,624.72 TOTAL 1,124,402 .15 912,952.4 1 1,003,352.79 ASSETS Cash and balances with Reserve Bank of India 62,958.96 36,629.90 51,281.74 Balances w ith Banks and Money at Call and Short Notice 38,041.05 27,291.04 50,809.37 Investments 335,776.26 284,843.25 290,632.80 Advances 645,578.00 529,416 .28 565,767 .88 Fixed Assets 2,850.25 2,838.34 2,852.80 Other Assets 38,249.87 30,985.84 41,060.44 Goodwill on consolidation 947.76 947.76 947.76 TOTAL 1,124,402 .15 912,952 .41 1,003,35 2.79 Consolidat ed Cash Flow Statement: f crore Half Year ended Year ended Particular s 30-Sep-26 30-Sep-25 31-Mar-26 (Unaudited) (Unaudited) (Audited) CASH FLOW FROM OPERATING ACTIVITIES Net Profit after tax and before share in profit/( loss) of Associates 11,121.13 8,875 .07 19,180 .62 Add: Provision for tax 3,918.03 3,141.10 6,812.10 Net Profit before taxe s 15,039 .16 12,016.17 25,992 .72 Adjustments for: - Employee Stock Options/Units Expense 41.00 22.47 66.82 Depreciation on Group' s Property 531.26 503.15 1,031.92 Provision for Diminution/ (Wri te back) in the value of Investme nts 5.39 (40.62) (68.05) (Profit)/ Loss on revaluation of investment s (net) (2,159.56) (395.39) 3,220 .67 Profit on sale of investmen t in subsidiary/Associate - - (367.79) (Profit)/ Loss on sale of Investmen ts (net) (1,772.19) (2,133.97 ) (3,759 .82) Amort isation of Premium / Discount on Investments 86.85 21.70 99.62 Provision for Non-Performing Assets, Standard Assets and Other 1,578.94 2,416.21 3,968.44 Provisions Profit on sale of Fixed Assets (2.59) (1.05) 1.79 13,34 8.26 12,408.67 30,186.32 Adjustment s for: - (Increase)/ Decrease in investme nts - Available for Sale, Held for Trading (25,856.30) 9,777.84 15,220.42 and Stock-in-Trade Increase in Advances (81,043.18) (45,40 1.02) (83,147.87) Decrease/ (Increase) in Other Assets 2,925.21 (4,442.73) (14,598.80) Increase in Deposits 80,519.10 29,792.2 1 72,232.85 Increase in Policyholders' Funds 7,759.26 4,728.0 5 11,04 7.28 (Decrease)/ Increase in Other Liabilities and Provisions (9,622.21) 2,128.52 17,219.65 Subtotal (25,318.12) (3,417.13) 17,973.53
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e kotak f crore Half Year ended Year ended Particulars 30-Sep-26 30-Sep-25 31-Mar -26 (Unaudited) (Unaudited) (Audited) Direct Taxes Paid (3,599.25) (2,872.41) (6,433.33) NET CASH FLOW FROM/ (USED IN) OPERATING ACTIVITIES (A) (15,569.11) 6,119.13 41,726.52 CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets (551.84) (517.69) (1,057.96) Sale of Fixed assets 16.33 12.74 21.95 Proceeds from sale of investm ent in Associate/ Subsidiary (net of - - 1,277.81 expenses) Increase in Other Investment s (including investment in HTM securities) (12,158.09) (5,526.35) (16,760.93) NET CASH FLOW FROM/ (USED IN) INVESTING ACTIVITIES (B) (12,693.60) (6,031.30) (16,519.13) CASH FLOW FROM FINANCING ACTIVITIES Dividend paid (646.58) (497.10) (497.10) Money received on issue of Equity Shares/ exercise of stock options 50.09 66.05 187.17 Increase/ (Decrease) in borrowings 27,725.98 (14,922.00) (2,228.50) NET CASH FLOW FROM/ (USED IN) FINANCING ACTIVITIES (C) 27,129.49 (15,353.05) (2,538.43) Increase in Foreign Currency Translat ion Reserve (D) 42.12 124.41 360.40 NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS (1,091.10) (15,140.81) 23,029.36 (A+ B + C+ D) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 102,091 .11 79,061.75 79,061.7 5 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD/ YEAR 101,000.01 63,920.94 102,091.11 NOTES: 1. The consolidate d financial results are prepared in accordance with Account ing Standard - 21 (AS-21) "Consolidated Financial Statements" and Accounting Standard - 23 (AS-23) "Account ing for investme nt in associates in Consolidated Financial Statements" specified under section 133 and relevant provisions of Companies Act, 2013. 2. These consolidated financial results have been prepared in accordance with the recognition and measuremen t principles laid down in Accounting Standards notified under Section 133 and the relevant provisions of the Companies Act, 2013 read with the Companies (Accounting Standards) Rules, 2021 in so far as they apply to the Group and the guide lines issued by the Reserve Bank of India ("RBI" ). Insurance Regulatory and Development Autho rity of India ("IRDAI") from time to time as applicable and the generally accepted accountin g principles prevailing in India. The financial results of Indian subsidiaries and associates (excluding insurance companies) are prepared as per Indian Accounting Standards in accordance with the Companies (Indian Accounting Standards) Rules, 2015. The financial results of subsidiaries located outside India are prepared in accordance with accounting princip les generally accepted in their respective countries. Howeve r, for the purpose of preparation of the consolidated financia l results, the results of subsidiaries and associates are prepared in accordance with Generally Accepted Accounting Principles in India ("GAAP") specified under Section 133 and relevant provision of Companies Act, 2013 read with Companies (Accounting Standard) Rules, 2021 and the guidelines issued by the RBI to the extent applicable. 3. The above consolidated financial results were approved at the meetin g of the Board of Directors held on 24th October, 2026. The results for the quarter and half year ended 30th September, 2026 were subjected to limi ted review by the joint statutory auditors (M M NISSIM & CO LLP, Chartered Accountants and Deloitte Haskins & Sells, Chartered Accountants) of the Bank, who have issued an unmod ified review report thereon. 4. Other income includes non-fun d based income such as commissio n earned from guarantees / letters of credit, financial advisory fees, selling of third party products, general banking fees, earnings from for eign exchange tran sactions, profit/ (loss) from sale and revaluation (other than insurance business) of eligible category of investmen ts.
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e kotak 5. The "Policy holders' reserves, surrender expenses and claims" under "Operating Expenses" in t he above Financial Information includes the change in the valuation of liabilit ies for life policies in force, lapsed policies that are likely to be revived in future and for policies in respect of which premium has been discontin ued but liability exists, of~ 2,441.45 crore for the quarter ended 30th September, 2026, ~ 5,030.80 crore for the quarter ended 30th June, 2026, ~ 1,688.40 crore for the quarter ended 30th September, 2025, ~ 7,472.25 crore for the half year ended 30th September, 2026, ~ 5,122.68 crore for the half year ended 30th September, 2025 and~ 11,120.78 crore for the year ended 31st March, 2026. 6. Provisions and contingencies comprise of provisions against loan accounts, investments, etc. and are net of recoveries made against loan accounts whic h have been written off. 7. On 24th March, 2026, Kotak Mahindra Capital Company Limited ("KMCC"), a who lly owned subsidiary of t he Bank divested 30.99% out of its total stake of 49.99% in its associat e lnfina Finance Private Limited ("lnfina") for a total consideration of H,293.91 crore. In t he consolidated financials a pre tax gain of~ 367.79 crore (net of expenses) is recognised for this divestment after considering the carrying value of this investment till the date of sale. Gain on sale of shares of lnfina has been disclosed as an exceptional item in the consolidated results for the year ended 31st March, 2026. Consequent to this sale, In fin a ceases to be an associate company of the Bank with effect from 24th March, 2026. 8. Basis the shareholders approval received on 26th December, 2025, the sub-division (split) of 1 (one) existing equity share having a face value of~ 5/- (Rupees Five only) each, fully paid-up, into 5 (five) equity shares having face value of~ 1/- (Rupee one only) each, fully paid up was effect ive from 14th January, 2026 (the record date). The impact of the aforesaid has been considered for calculation of EPS for all the periods in accordance w ith the requirements of AS 20- Earnings per share. 9. In accordance with the RBI guidelines, Banks are required to make consolidated Pillar 3 disclosures including leverage ratio, liquidity coverage ratio and Net Stable Funding Ratio ("NSFR") under the Basel Ill Framework. These disclosures will be made available on the Bank's website at the following link: https://www.kotak.bank.in/en/investor -relations/financial -results/ regulatory-disclosure.html on publicat ion of results. These disclos ures have not been subjecte d to audit or limited review. 10. On 25th September 2026, the Boards of Directo rs of Kotak Mahind ra Investments Limited ("KMIL") and Kotak Alternate Asset Managers Limited ("KAAML"), both wholly-owned subsidiaries (directly and/or indirectly) of the Bank, approved a Scheme of Merger of KMIL with KAAML on a going concern basis, under the provisions of Section 233 of the Companies Act, 2013 and the rules made thereunder which is subject to necessary stat utory and regulatory approvals. The above has no impact on the consolidated financial results of the Bank. 11. There has been no change in the significant accounting policies during the quarter ended 30th September, 2026 as compared to t hose followed for the year ended 31st March, 2026. 12. Figures for the previous periods/ year have been regrouped/ reclassified wherever necessary to conform to current period's presentation . Mumbai, 24th October, 2026 By order of t he Board of Directors For Kotak Mahindra Bank Limited ~ Vaswan!.._i ~--------- ng Director and Chief Executive Officer
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Deloitte Haskins & Sells Chartered Accountants 19th Floor, Shapath-V S.G. Highway Ahmedabad - 380 015 Gujarat, India Tel: +91 79 6682 7300 Fax: +91 79 6682 7400 M M NISSIM & CO LLP Chartered Accountants Barodawala Mansion B-Wing, 3rd Floor, 81, Dr. Annie Besant Road Worli, Mumbai - 400 018 Independent Auditors' Review Report on unaudited standalone financial results for the quarter and half year ended 30 September 2026 of Kotak Mahindra Bank Limited pursuant to Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To the Board of Directors of Kotak Mahindra Bank Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Kotak Mahindra Bank Limited (the "Bank") for the quarter and half year ended 30 September, 2026 (the "Statement"), being submitted by the Bank pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India ("SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") except for the disclosures relating to consolidated Pillar 3 as at 30 September 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations which will be disclosed on the Bank's website and in respect of which a link has been provided in Note 7 of the Statement and which have not been reviewed by us. We have initialled the Statement for identification purposes only. 2. This Statement, which is the responsibility of the Bank's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 "Interim Financial Reporting" ("AS 25"), prescribed under Section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereunder, in so far as they apply to Banks, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time (the "RBI Guidelines") and other accounting principles generally accepted in India; and in compliance with Regulation 33 and Regulation 52 read with Regulation 63(2) of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of bank's personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
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Deloitte Haskins & Sells MM NISSIM & CO LLP Chartered Accountants 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in AS 25 prescribed under Section 133 of the Act read with relevant rules issued thereunder, in so far as they apply to Banks, the RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Listing Regulations, including the manner in which it is to be disclosed or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India ('RBI') in respect of Income recognition, asset classification, provisioning and other related matters, except for the disclosures relating to consolidated Pillar 3 as at 30 September 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations which will be disclosed on the Bank's website and in respect of which a link has been provided in Note 7 to the Statement and which have not been reviewed by us. For Deloitte Haskins & Sells Chartered Accountants (Firm Registration No. 117365W) ~7 G. K. Subramaniam Partner Membership No. 109839 UDIN: 26109839FRRDBD7660 Place: Mumbai Date: 24 October 2026 For M M NISSIM & CO LLP Chartered Accountants (Firm Registration No. 107122W/W100672) Sanjay Khemani Partner Membership No. 044577 UDIN: 26044577AMXJAC1362 Place: Mumbai Date: 24 October 2026
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Sr No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 ~ kotak KOTAK MAHINDRA BANK LIMITED (STANDALONE) CIN: L65110MH1985PLC038137 Registered Office: 27 BKC, C 27, G Block, Bandra l(urla Complex, Bandra (East), Mumbai - 400 051 UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30'" SEPTEMBER, 2026 Quarter ended Half year ended Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 (Unaudited) (Unaudited) {Unaudited) (Unaudited) (Unaudited) Interest earned (a+b+c+d) 15,947.73 14,477.49 13,649.41 30,425.22 27,485.95 (a) Interest/discount on advances/ bills 12,382.22 11,271.24 10,605.13 23,653.46 21,219.64 (b) Income on investments 2,901.11 2,673.14 2,661.37 5,574.25 5,530.64 (c) Inter est on balances with Reserve Bank of India 457.00 370.85 235.19 827.85 454.21 (RBI) & other interbank funds (d) Others 207.40 162.26 147.72 369.66 281.46 Other income (Refer Note 2) 3,193.56 3,338.20 2,589.18 6,531.76 5,669.16 Total income (1+2) 19,141 .29 17,815.69 16,238.59 36,956.98 33,155.11 Interest expended 7,488.76 6,549.06 6,338.67 14,037.82 12,915.92 Operating expenses (a+b) 5,270.33 5,135.28 4,631.65 10,405.61 9,407.23 (a) Employee cost 2,151.82 2,210.31 1,979.53 4,362.13 4,045.05 (b) Other operating expenses 3,118.51 2,924.97 2,652.12 6,043.48 5,362.18 Total expenditure {4+5) 12,759.09 11,684.34 10,970.32 24,443.43 22,323.15 (excluding provisions & contingenci es) Operating profit (3-6) 6,382.20 6,131.35 5,268 .27 12,513.55 10,831.96 (Profit before provisions and contingencies) Provisions (other than tax) and contingencies 803.56 668.13 (Refer Note 3) 947.42 1,471.69 2,155.18 Exceptional items - - - - Profit from ordinary activities before tax {7-8+9) 5,578.64 5,463.22 4,320 .85 11,041.86 8,676.78 Tax expense 1,366.67 1,340.26 1,067.52 2,706.93 2,141.77 Net Profit from ordinary activities after tax {10-11) 4,211.97 4,122.96 3,253.33 8,334.93 6,535.01 Extraordinary items (net of tax expense) - - - - Net Profit (12-13) 4,211.97 4,122.96 3,253.33 8,334.93 6,535.01 Paid up equity share capital (of Face Value f 1 per 994.79 994.67 share) {Refer Note 4) 994.30 994.79 994.30 Reserves (excluding revaluation reserves) Analytical Ratios (i) Percentage of shares held by Government of - - - - - India (ii) Capital adequacy ratio - Basel 111 {%) 21.86 22.78 22.05 21.86 22.05 (iii) Earnings per equity share before and after extraordinary items (net of tax expense) (Face Value~ 1 per share) (Refer Note 4) - Basic (not annualised)~ 4.23 4.15 3.27 8.38 6.57 - Diluted (not annualised)~ 4.23 4.14 3.27 8.38 6.57 (iv) NPA Ratios a) Gross NPA 6,080.97 6,121.83 6,479.58 6,080.97 6,479.58 b) Net NPA 1,366.94 1,357.56 1,490.98 1,366.94 1,490.98 c) % of Gross NPA to Gross Advances 1.04 1.18 1.39 1.04 1.39 d) % of Net NPA to Net Advances 0.24 0.27 0.32 0.24 0.32 (v) Return on average Assets(%) - (not annualised) 0.48 0.53 0.47 1.01 0.96 (vi) Debt-Equity ratio (Refer Note 5.a) 0.38 0.18 0.19 0.38 0.19 (vii) Tota l Debts to Total Assets( %) (Refer Note 5.a) 6.23 3.33 3.38 6.23 3.38 (viii) Net worth (Refer Note 5.a) 145,495.06 140,480.03 124,796.64 145,495.06 124,796.64 (ix) Outstanding redeemab le preference shares - - - - (quantity and value) (x) Capital redemption reserve 500.00 500.00 500.00 500.00 500.00 ~ crore Year ended 31-Mar -26 {Audited) 55,563.97 43,055.01 10,835.62 1,122.54 550.80 11,623.29 67,187.26 25,553.90 19,566.46 8,351.67 11,214.79 45,120.36 22,066 .90 3,481.18 18,585.72 4,578.02 14,007.70 - 14,007.70 994.65 134,203.94 - 22.40 14.09 14.09 6,017.81 1,262.51 1.20 0.25 1.97 0.24 4.15 134,779.45 500.00
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~ kotak Segment Reporting The reportable segments of the Bank as per RBI guidelines are as und er: Segment Principal activity Corporate/Wholesale Banking Wholesale borrowings and lending and other related services to the corporate sector which are not included under retail banking. Retail Banking Comprises of: Digital Banking Business involving digital banking products acquired by Digital Banking Unit including existing digital banking products as identified by the Management in accordance with the instructions of the RBI vide its circular dated 7th April, 2022. Other Retail Banking Includes retail lending, deposit taking and other retail services/ products other than above. Treasury, BMU and Corporat e Money market, forex market, derivatives, investments and primary dealership of government securities, Balance Sheet Centre Management Unit (BMU) responsible for Asset Liability Management and Corporate Centre which primarily comprises of support functions. Other Banking business Includes any other business not included in the above. 'I: crore Quarter ended Half year ended Year ended Particulars 30-Sep-26 30-Jun-26 30-Sep-2S 30-Sep-26 30-Sep-25 31-Mar-26 (Unaudited) (Unaudited} (Unaudited) (Unaudited) {Unaudited} (Audited) 1 Segment Revenue a. Corporate/ Wholesale Banking 8,173.33 7,016.63 6,699.89 15,189.96 12,966.95 26,158.79 b. Retail Banking• 9,314.00 8,341.25 8,343.93 17,655.25 16,994.48 34,434.33 (i) Digital Banking 731.44 670.99 563.25 1,402.43 1,108.66 2,407.59 (ii) Other Retail Banking 8,582.56 7,670.26 7,780.68 16,252.82 15,885.82 32,026.74 c. Treasury, BMU and Corporate Centre 3,400.51 3,645.39 2,832.67 7,045.90 6,554.60 12,483.76 d. Other Banking business . . . . . . Sub-total 20,887.84 19,003.27 17,876.49 39,891.11 36,516.03 73,076.88 Less: Inter-segmental revenue 1,746.55 1,187.58 1,637.90 2,934.13 3,360.92 5,889.62 Total 19,141.2 9 17,815.69 16,238.59 36,956.98 33,155.11 67,187.26 2 Segment Results a. Corporate/ Wholesale Banking 2,430.64 2,092.51 1,984.54 4,523.15 3,862.61 8,269.11 b. Retail Banking• 1,987.05 1,429.97 1,437.76 3,417.02 2,517.96 5,653.21 (i) Digital Banking 20.28 16.02 10.75 36.30 12.46 77.63 (ii) Other Retail Banking 1,966.77 1,413.95 1,427.01 3,380.72 2,505.50 5,575.58 C. Treasury, BMU and Corporate Centre 1,160.95 1,940.74 898.55 3,101.69 2,296.21 4,663.40 d. Other Banking business . . . . . . Total Profit Before Tax 5,578.64 5,463.22 4,320.85 11,041.86 8,676.78 18,585.72 3 Segment Assets a. Corporate/ Wholesale Banking 379,849.22 339,005.33 298,530.28 379,849.22 298,530.28 308,807.68 b. Retail Banking* 577,122.85 499,460.83 459,311.00 577,122.85 459,311.00 499,201.58 (i) Digital Banking 108.77 66.24 123.77 108.77 123.77 221.25 (ii) Other Retail Banking 577,014.08 499,394.59 459,187.23 577,014.08 459,187.23 498,980.33 c. Treasury, BMU and Corporate Centre 270,322.92 207,498.14 195,572.05 270,322.92 195,572.05 251,728.16 d. Other Banking business . . . . . Sub-total 1,227,294.99 1,045,964.30 953,413.33 1,227,294.99 953, 413 .33 1,059,737.42 Less : Inter-segmental Assets 340,537.15 270,891.00 246,446.42 340,537.15 246,446.42 276,734.66 Total 886,757.84 775,073.30 706,966.91 886,757.84 706,966.91 783,002.76 Add : Unallocated Assets . . . . . . Total Assets as per Balance Sheet 886,757.84 775,073. 30 706,966.91 886,757.84 706,966.91 783,002 .76 4 Segment Liabiliti es a. Corporate/ Who lesale Banking 341,414.71 304,181.51 266,952.09 341,414.71 266,952.09 272,372.91 b. Retail Banking• 519,688.74 444,014.01 409,322.11 519,688.74 409,322.11 445,584.36 (i) Digital Banking 31,242.54 28,388.05 21,652.40 31,242.54 21,652.40 25,490.96 (ii) Other Retail Banking 488,446.20 415,625.96 387,669.71 488,446.20 387,669.71 420,093.40 c. Treasury, BMU and Corporate Centre 218,017.36 154,527.89 150,851.52 218,017.36 150,851.52 205,099.03 d. Other Banking business . . . . . Sub-total 1,079,120.81 902,723.41 827,125.72 1,079,120 .81 827,125.72 923,056.30 Less: Inter -segmental Liabiliti es 340,537.15 270,891.00 246,446.42 340,537.15 246,446.42 276,734.66 Total 738,583.66 631,832.41 580,679.30 738,583.66 580,679 .30 646,32 1.64 Add : Unallocated liabilities 2,190.28 2,317.13 1,130.20 2,190.28 1,130.20 1,482.53 Add : Share Capital & Reserves & surplus 145,983.90 140,923.76 125,157.41 145,983.90 125,157.41 135,198.59 Total Capital and Liabiliti es as per Balance 886,757.84 775,073.30 706,966.91 886,757.84 706,966.91 783,002.76 Sheet Segment results are net of segment revenues and segment expenses includin g interdivisional items .
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~ kotak Summarised Standa lone Balance Sheet of the Bank is given below : 'I! cro re As at Particulars 30-Sep-26 30-Sep-25 31-Mar-26 (Unaud ited) (Unaudit ed) (Audit ed) CAPITAL AND LIABILITIES Capital 994.79 994.30 994.65 Employees' Stock Option s/ Units (Grants) Outstanding 139.25 100.18 113.12 Reserves and Surplus 144,989.11 124,163.11 134,203.94 Deposits 651,491.47 528,776.02 572,456 .13 Borro wings 55,223 .16 23,911.11 32,475.00 Other liabi lities and Provisions 33,920.06 29,022 .19 42,759.92 TOTAL 886,757.84 706,966.91 783,002.76 ASSETS Cash and balances with Reserve Bank of India 62,940.92 36,610.14 51,239.46 Balances w ith Banks and Money at Call and Short Notice 17,968.75 13,181.60 32,849.48 Investm ents 202,034.63 172,994. 24 172,535.42 Advances 577,294.71 462,687.61 496,009.16 Fixed Assets 2,391.54 2,431.91 2,388.34 Other Assets 24,127.29 19,061.41 27,980.90 TOTAL 886,757.84 706,966.91 783,002.76 STANDALONE CASH FLOW STATEMENT 'I! crore Half year ended Year ended Particulars 30-Sep-26 30-Sep-25 31-Mar-26 (Unaudited) (Unaudited) (Audited) CASH FLOW FROM OPERATING ACTIVITIES Profit after tax 8,334.93 6,535.0 1 14,007.70 Add: Provision for tax 2,706.93 2,141.77 4,578.02 Net Profit before taxes 11,041.86 8,676.78 18,585.72 Adjustments for:- Employee Stock Options/ Units Expense 31.45 11.11 45.02 Depreciat ion on Bank's Property 422.26 401.02 818.64 Provision fo r diminution / (write back) in the value of Investments 5.39 (40.62) (68.05) Dividend from Subsidiaries/Joint Ventures (569.62) (448.53) (448.53) Amort ization of premium on investment 279.72 193.81 446.19 (Profit )/Loss on revaluation of Investmen ts (net) (39.62) 300.18 957.88 Provision for Non-Performin g Assets, Standard Assets and Other Provisions 1,467.93 2,195.80 3,549.24 (Profit)/Loss on sale of Fixed Assets (1.07) (0.73) 3.57 12,638 .30 11,288.82 23,889.68 Adjustments for :- (Increase)/ Decrease in Investments (ot her than Subsidiaries, Joint Ventures (25,722.88) 10,843.95 15,227.22 and Other HTM Investments) (Increase) in Advances (82,380.35) (37,732.34) (72,303.42) Decrease/ (Increase) in Other Assets 4,085.37 (2,419.12) (11,354.69) Increase in Deposits 79,035.35 29,720.88 73,401.00 (Decrease)/ lncrease in Other Liabilitie s and Provisions (9,928.18) (429.52) 12,906.40 Subtot al (34,910.69) (16.15) 17,876.51 Direct Taxes Paid (2,484.86) (2,096.30) (4,555.00) NET CASH FLOW {USED IN}/FROM OPERATING ACTIVITIES (A) (24,757.25 ) 9,176.37 37,2 11.19 CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets (444.62) (450.60} (819.53} Sa le of Fixed Assets 8.74 4.49 11.15 (Increase) in Investmen ts in HTM securities (719.73) (236.12) (2,361.67) .... ~~ .. ,.,~ .......... ~ ubsidiaries/Jo int Vent ures 569.62 448.5 3 448.53 ~ -· -~ ~ JSED IN) INVESTING ACTIVITIES (B) (585.99) (233.70),. ~ ::,-,.(2,721.52) 7' - ·,. • • c: ~ f/4 ~ '5 ~ f/.,.' ~ , o~ I'- "- I ,..__ffi , I ~ 101122wi I ~ I !:: Cl TEHEU (/) l ~ " 0 /IC T/\NTS /'TJ * W100672 * ·o" 1 ~ i MUWll-'AI f_ ~. O 0 ~fDAC~'t - * --
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e kotak Half year ended Year ended Particulars 30-Sep-26 30-Sep-25 31-Mar-26 (Unaudited) (Unaudited) (Audited) CASH FLOW FROM FINANCING ACTIVITIES (Decrease)/ Increase in Refinance (1,057.32) (611.96) 4,953.49 Increase/ (Decrease) in Borrowin gs (other than Refinance and Sub-ordinated 23,805.48 {23,919.68) (20,921.24) debt) Mon ey received on exercise of Stock Options/Issue of Equity Shares 50.09 66.05 187.17 Dividend paid (646.58) {497.10) {497.10) NET CASH FLOW (USED IN) /FROM FINANCING ACTIVITIES (C) 22,151.67 (24,962.69) (16,277.68) Increase in Foreign Currency Translation Reserve (D) 12.30 32.61 97.80 NET (DECREASE)/ INCREASE IN CASH AND CASH EQUIVALENTS (3,179.27} (15,987.41) 18,309.79 (A+ B +C+ D) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD/YEAR 84,088.94 65,779.15 65,779.15 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD/YEAR 80,909.67 49,791.74 84,088.94 NOTES: 1. The above standal one financial results were approved at the meeting of the Board of Directors held on 24th October, 2026. The results for the quarter and half year ended 30th Septembe r, 2026 were subjected to limit ed review by the joint stat utory auditors (M M NISSIM & CO LLP, Chartered Accountants and Deloitte Haskins & Sells, Chartered Accountants) of the Bank, who have issued unmodified review report the reon. 2. Other Income includes non-fund based income such as commission earned from guarantees/ letters of credit , selling of third party products, general banking fees, earnings from foreign exchange tran sactions, prof it / (loss) (including revaluation) from sale and revaluation of eligible category investments, and income earned by way of dividend, etc. from Subsidiaries/ Associates. 3. Provisions and contin gencies comprise of provisions against loan accounts, investments, etc. and are net of recoveries made against loan accounts which have been w ritten off. 4. Basis the sharehold ers approv al received on 26th December 2025, the sub-division (split) of 1 (one) existing equity share having a face value of~ 5/ (Rupees Five only) each, fully paid-up, into 5 (five) equity shares having face value of~ 1/- (Rupee one only) each, fully paid-up was effective fro m 14th January 2026 (the record date). The impact of the aforesaid has been considered for calculation of EPS for all the periods in accordance with the requirements of AS 20 - Earnings per share. 5. Information as required pursuant to Regulation 52(4) of SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015: a. Methodology for computation of the ratios is as follows: Debt-Equity Ratio Represents the ratio of Borrowings/Sum of Capital and Reserves and su·rplu s Total Debts to Total Assets (%) Represents Borrowings/Total Assets Net-worth Calculated as per the M aster Direction s -Asse t Liability Management issued by the RBI. b. Basis nature of the Bank's business, the ratio's considered to be not applicable are Current Ratio, Long term debt to working capital, Bad debts to Account receivable ratio, Current liability ratio, Debtors turnover ratio, Inventory turnover ratio, Debt Service coverage ratio, Interest Service coverage ratio, Operating margin% and Net profit margin %. 6. During the quarter, the Bank has allotted 1,172,125 equity shares pursuant to the exercise of options. 7. In accordance with the RBI guidelines, Banks are required to make consolidated Pillar 3 disclosures including leverage ratio, liquidit y coverage ratio and Net Stable Funding Ratio (NSFR) under the Basel 111 Framework. These disclosures would be made available on the Bank's website at the followi ng link: https://www.kotak.bank.in/en/ investor-relations/fin ancial-result s/regulato ry-disclosure.html on publication of results. These disclosures have not been subjected to audit or limited review.
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~ kotak 8. Details of loans tran sferred /acquired during the half year ended 30'h September, 2026 as per the Reserve Bank of India (Commercial Banks - Financial Statements: Presentation and Disclosures) Direction s, 2025 dated 28'h Novembe r,2025 are as given below : A. Details of Loans not in default : a. Transferred to Eligible Lenders: Sr.No Particulars 1 Loan transferred throu gh Assignment/ Novation / Loan Participation 2 Aggregate amount of loans transferred (Fund and Non Fund) 3 Aggregate consideration received against Fund based loans 4 Weighted average residual matu rity (years) s Weighted average holding period of originator (years) 6 Retention of beneficial economic interest 7 Coverage of tangible security coverage(%)* 8 Rating-wise distribut ion of transferred loans IND BBB+ve CARE A- CRISILAA- IND AA ICRA BBB CARE AA Unrated f crore except tenor H1FY27 Assignment/ Novation 2,683.73 2,318.73 7.21 0.24 43.60% 66.02% 7.45% 13.37% 44.71% 18.01% 1.55% 11.18% 3.73% * Security coverage has been capped at 100% for loans where the coverage exceeds 100%. b. Acquired from Eligible Lenders Sr.No Particul ars 1 Loan acquired through Assignment / Novation / Loan Participation 2 Aggregate amount of loans acquired 3 Aggregate consideration paid 4 Weighted average residual maturity (years) ** s Weight ed average holdin g period of originator (years) 6 Retention of beneficial econom ic interest by the acquirer 7 Coverage of tangible security coverage (%) * 8 Rating-wise distr ibutio n of Acquired Loans Unrated A A- A+ AA- AA+ BBB and below * Security coverage has been capped at 100% for loans where the coverage exceeds 100%. •• Weighted average residual tenor of loans is excluding limit based facilities. f crore except tenor H1FY27 Assignment 9,582.88 9,625.12 3.54 1.18 99.83% 98.26% 57.86% 4.04% 7.01% 5.94% 2.35% 0.27% 22.53%
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S kotak B. Details of Stressed loans: a. Special M ention Accounts (SMAs} i. The Bank has not transferred any Special Men tion Account (SMA). ii. Details of Special Mention Accounts (SMAs) acquired from eligible lenders through Assignment : f crore except tenor From lenders listed in Clause 3 Portfolio acquired during the Aggregate Principal Aggregate consideration Weighted average residual tenor half year ended outstandin g of loans paid of loans acquired acquir ed (in Years) 301• September, 2026 101.29 99.27 2.47 b. Non-perform ing Assets (NPAs) i. Details of of Non-perform ing Assets (NPAs) transferred to Eligible Lenders through Assignment: f crore except tenor Parti culars To ARCs No of accounts 3 Aggregate principal outstanding of loans transferred 4.88 Weighted average residual tenor of the loans transferred (years) 0.66 Net book value of loans transferred (at the time of transfer) . Aggregate consideratio n 5.00 Additional consideration realized in respect of accounts transferred in earlier years ii. Details of Non-perfo rmin g Assets (NPAs) acquired from eligible lenders through Assignment: f crore except tenor From lenders listed in Clause 3 Portfolio acquired duri ng the Aggregate Principal Aggregate considera tion Weighted average residual tenor of half year ended outstanding of paid loans acquired loans acquired (in Years) 30th September, 2026 97.93 30.84 0.72 C. Details of t he recovery ratings assigned to Security Reciepts as at 30th Septembe r, 2026. Recovery Rating" Anti cipated Recovery as per Recovery Carrying Value (f crore) Rating NRl/Rl+ /RRl+ >150% 331.85 NR2/Rl/RR1 100%- 150% 733.71 NR3/R2/R R2 75% - 100% . NR4/R3/RR3 50% - 75% - NR5/R4/RR4 25%-50% 1.20 NR6/RS/RR5 0% - 25% - Yet to be rated . 189.76 Unrated . 0.12 Total 1,256.64 "Recovery ratin g is as assigned by vari ous ratin g agencies.
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~ kotak 9. Disclosure related to Project Finance as per the Reserve Bank of India (Commercial Banks - Financial Stateme nts: Presentation and Disclosures) Directions, 2025 dated 28'" November, 2025, is given below: SI. No Item Descripti on Number of Total outstanding accounts (in f crore) • 1 Projects under imple mentation accounts at the beginning of the quarter 172 3,650.49 2 Projects under implementation accounts sanctioned during the quarter•• 181 4,797.72 3 Projects under implementat ion accounts where DCCO has been achieved during the quarter 35 600.36 4 Projects under implementation accounts at the end of the quarter. (1+2-3)*** 310 8,031.71 5 Out of '4' - accounts in respect of which resolution process involvi ng extension in 30 666.38 original/extended DCCO, as the case may be has been invoked 5.1 Out of '5' - accounts in respect of which Resolut ion plan has been implemented 28 624.82 5.2 Out of '5' - accounts in respect of which Resolution plan is under implementation •••• 2 41.56 5.3 Out of '5' -accounts in respect of which Resolution plan has failed - - Out of '5', accounts in respect of which resolution process invo lving extension in 6 original/extended DCCO, as the case may be has been invoked due to change in scope and size 1 262.90 of the project 7 Out of '5', account in respect of which cost overrun associated with extension in - -original/extended DCCO, as the case may be, was funded 7.1 Out of '7', accounts where SBCF was sanctioned during financial closure and renewed - -continuous ly 7.2 Out of '7', accounts where SBCF was not pre-sanctioned or renewed continuously - - 8 Out of '4' - accounts in respect of which resolution process not involving extension in 17 193.37 original/extended DCCO, as the case may be has been invoked 8.1 Out of '8' -accounts in respect of which Resolution plan has been implemented 16 192.37 8.2 Out of '8' - accounts in respect of which Resolution plan is under implem entati on 1 1.00 8.3 Out of '8' - accounts in respect of which Resolution plan has failed. • Includes movement off 183.86 crore during the quarter ended 30th Sept 2026 in projects under impl ementation accounts existing at the beginning of the quarter. •• Data includes 115 case taken over from Kotak Mahindra Investment Limited as Project Finance ••• Excludes 8 accounts closed or cancelled during the quarter. •••• In respect of number of accounts. For serial number 5 to 8, above accounts where credit event was trigged on and after 1" July, 2026 are considered. Also Includes cases which were report ed as DCCO extended cases in Q3 and Q4 of FY 25-26 and Ql of FY 26-27 continue s to be under implementation. 10. The disclosure under resolution framework for COVID-19-related Stress as as per the Reserve Bank of India (Commercial Banks - Financial Statement s: Presentation and Disclosures) Direction s, 2025 dated 28'" November, 2025 as on 30'" September 2026 is as given below: f crore except number of accounts Type of borrowe r Exposure to Of (A), aggregate Of (A) amoun t Of (A) amount paid accounts classified debt that slipped writt en off during by the borrow ers as Standard into NPA during the the half-year II during the half- consequent to half-year@ impl ementation of resolution plan - Position as at the end of the previous half-year (A)** Personal Loans 21.92 0.53 - Corporate persons• 9.09 - - Of which, MSMEs 9.09 - - Others 38.61 - - Total 69.62 0.53 - • As defined in section 3(7) of the Insolvency and Bankruptcy Code, 2016. •• includes cases where requests received till 30'" September, 2021 and impleme nted subsequently. @ includes accounts which were written off during the period subsequently and net of recoveries. II represents debt that slipped into NPA and was subsequently written off during the half-year. "includes change in balances on account of interest and net of increase in exposure during the period. year" 1.66 1.79 1.79 11.54 14.99 Exposure to accounts classified as Standard consequent to implementation of resolution plan - Position as at the end of this half- year 19.73 7.30 7.30 27.07 54.10 11. There has been no change to significant accounting policies durin g the quarter and half-year ended 30'" September, 2026, as compared to those followed for the year ended 31" March, 2026. 12. The Bank has subsidiaries and associates as at 30'" September, 2026 and accordingly, the Unaudited Consolidated Financial Results of the Bank for the alf-year ended 30'" September, 2026, prepared in accordance with the applicable provi sions of law, ges along with these Standalone Financial Result
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~ kotak 13. The Bank has not entered into any co-lending arrangements till 30th September 2026. 14. Pursuant to the RBI Directions and as part of the Kotak Group's simplification and operational synergy initiatives, with effect from 1 July 2026, the Bank acquired loan assets aggregating to ~9,587.62 crore (including premium) from Kotak Mahindra Investments Limited. 15. Figures for the previous periods/ year have been regrouped/reclassified wherever necessary to conform to current period's presentation. Mumbai, 2411' October, 2026 By order of the Board of Directors For Kotak Mahindra Bank Limit ed aswani M aging mtect or and Chief Executive Officer