Over the last year, Kotak Mahindra Bank consciously scaled down its unsecured lending portfolio and instead focused on driving growth in other lending segments. The banks' digital channels have performed significantly well with 94% of savings account transactions and 87% of all monthly transactions across the bank taking place digitally. The banks' credit card book decreased to Rs 3,969 crore as of March 2021, compared to Rs 4,701 crore in March 2020. Similarly the personal, business loan and consumer durables book also decreased to Rs 7,024 crore as of March 2021 compared to Rs 9,754 crore as of March 2020. The bank reported a net profit of Rs 1,682 crore in the fourth quarter of FY21, up by 33% from Rs 1,267 crore in the same period of FY2020, according to its financial results. "Unsecured retail loans have gone from 7.5% of our total advances book in March 2020 to 5.8% of our total advances book as of March 2021," said Jaimin Bhatt, President and Group Chief Financial Officer, Kotak Mahindra Bank Ltd. during a media call on Monday. Unsecured loans, credit cards, personal loans and other types of loan are always going to face the biggest risk going forward, given the impact of the pandemic on the economy, said Uday Kotak, Managing Director and Chief Executive Officer, Kotak Mahindra Bank. "We do believe there are pockets where we have to be careful, and there are also pockets for growth. We are committed to growth, but we will take up…
