ആപ്പിൾ പേയുമായി സഹകരണത്തിനൊരുങ്ങി കൊട്ടക് മഹീന്ദ്ര ബാങ്ക്: ഉപഭോക്താക്കളുടെ ആവശ്യകത പരിഗണിക്കും

Kotak Mahindra Bank may explore a partnership with Apple Pay in the coming quarters if customer demand for the service remains strong, Chief Executive Officer Ashok Vaswani said, signalling a potential expansion of the lender's digital offerings. The bank will assess customer demand before deciding on its participation, with no firm timeline announced for a launch. "We will eventually get there (to be a part of the ecosystem). If our customers demand it, we will do it, and we will get it done over the next couple of quarters," Vaswani said during the post-earnings media call on October 24. If the lender partners with Apple Pay, it would be only the second bank in India to do so, after Apple Pay's partnership with Axis Bank earlier this year. Currently, Apple Pay is available for Axis Bank credit cards issued on the Visa and Mastercard networks. The country's fourth-largest private lender is also focused on growing its credit-card business by leveraging its existing customer base, data and customer service, rather than pursuing market share at the expense of profitability. "We do see good traction on spends, but at the same time, you know, our relative market share on cards is still very small. Our franchise strength is very high. I'm sure there is a lot of opportunity in cards to build a good business because it's not only a profitable business, but it is also a very engaging business for customers," Vaswani added. FCNR(B) deposits to be deployed in higher-yielding assets Kotak Mahindra Bank said it would look to deploy foreign currency non-resident bank (FCNR(B)) deposits into higher-yielding customer assets over the coming quarters. It also aims to reduce its dependence on term deposits and Inter-Bank Participation Certificates (IBPCs). The bank mobilised Rs 55,344 crore through the RBI's special window swap and provided loans aggregating Rs 16,110 crore through its international branches. The lender expects the deployment of funds raised through FCNR(B) deposits, along with the repricing of repo-linked loans, to help offset pressure on net interest margins (NIMs) by the fourth quarter. The bank's NIM declined to 4.31% in the September quarter from 4.54% a year earlier. Read More: Kotak Mahindra Bank's Q2 net profit jumps 26% to Rs 5,645 crore   "The full-quarter impact of FCNR-B funding costs will be reflected in Q3. This will be offset by the progressive deployment of excess FCNR(B) funds into customer assets at suitable rates and tenures, along with repricing of repo-linked advances, which account for about 60% of total advances," Chief Financial Officer Devang Gheewala said. "While some of the benefit from loan repricing will come through in Q3, the full impact is expected by Q4," Gheewala added.