Transactions worth Rs 4,800 crore happened on Kotak Mahindra Bank’s mobile channels in the month of December, Shanti Ekambaram, president of consumer banking said in an analyst call. During the period of demonetization (comparing numbers from October 2016 to December 2016), the bank saw a 108% increase in first time logins on their mobile banking app. For net banking, it saw a 52% growth in first-time logins.

Cards: During the demonetization period, the bank saw an 183% growth in 90-day dormant activation cards. It also saw an 86% growth in unique active cards.

The number of transactions on debit cards grew 188% and the value of transactions increased 140%. For credit cards, the number of transactions increased 48% and the value of the transactions increased 31%. No absolute numbers were provided.

Mobile banking: For the demonetization period, mobile banking saw an increase of 50% in the number of transactions and 52% rise value of transactions.

During the quarter (Q3Fy17), mobile banking saw a jump of an 119% YoY increase in terms of volumes (number of transactions) and a 161% increase in terms of value (amount of money which was processed).

It added that mobile banking usage was more than 3 times than that of net banking. The bank said 51% of mobile banking customers use only the mobile app.

Deposits and loans: In Q3Fy17, Kotak Mahindra Bank said that 55% of its recurring deposits were sourced digitally and over 60% of its term deposits were obtained digitally.

Term deposits, which includes both recurring and fixed deposits, at the bank stood at Rs 86,569 crore during the quarter. So, around Rs 51,941.4 crore was deposited digitally.

“15% of our personal loans now come through the digital channel,” Ekambaram added. Kotak Mahindra Bank’s small business, personal loan and credit cards portfolio stood at Rs 15,784 so this means that around loans worth Rs 2,367.6 crore was sourced digitally.

UPI apps: Kotak Mahindra Bank’s KayPay application is now a UPI app and has 75,000 downloads. The number of virtual payment addresses were not disclosed.

Payment gateway transactions: The bank also offers payment gateway services for its customers. Number of transactions during the quarter increased 88% and the value of transactions on the payment gateway increased 94%. Kotak Mahindra Bank’s payment Gateway is a web-based service which allows the bank’s customers to make online purchases across websites. It allows customers to link trading accounts with some brokers including Kotak Securities.

Insurance: Kotak Mahindra Bank’s insurance subsidiary  over 11,750 policies were sourced through Genie, its tablet-based sales solution. Around 14% of premium renewals were coming through digital platforms.

Trading:  “Kotak Securities mobile app contributes to about 17.61% of the total online business and to about 10% of the total Kotak Securities business,” Ekambaram added.

Download: Presentation | Analyst call