Ahead of its second quarter earnings, Kotak Mahindra Bank released its business update and said it reported a steady growth in its deposits and advances for the quarter ended September 30.

Advances up 15.8% year-on-year

Kotak Mahindra Bank’s net advances stood at Rs 4.62 lakh crore, up 15.8% from Rs 3.99 lakh crore a year ago. On a sequential basis, advances rose 4% from Rs 4.44 lakh crore in the June quarter.

The average net advances for the quarter came in at Rs 4.47 lakh crore, marking a 14.6% year-on-year increase.

Kotak Mahindra Bank’s CASA deposits rise 11.2%

Kotak Mahindra Bank’s current account savings account (CASA) deposits, grew 11.2% year-on-year to Rs 2.23 lakh crore and 6.7% on sequential basis from Rs 2.09 lakh crore in the previous quarter.

The average CASA for the

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