Kotak Mahindra Bank’s life insurance arm is likely to incur a loss of up to Rs 275 crore for the quarter ended June 2021 due to high fatalities in India during the second wave of COVID-19. Due to increased claims and higher mortality related provisioning arising on account of the second wave, the company is likely to incur a loss for the quarter ended June 2021 in the estimated range of Rs 225-275 crore on shareholder's account. The provisioning going forward will depend on the trends in mortality. The company continues to have a strong capital and solvency position.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
Company Name | CMP |
---|---|
HDFC Bank | 1531.30 |
ICICI Bank | 1066.40 |
Axis Bank | 1029.50 |
Indusind Bank | 1485.80 |
Kotak Mahindra Bank | 1790.00 |
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