J&K Bank crosses Rs 500 Cr mark in annual net-profit after seven years

With these results, we have surely strengthened and stabilized as financial institution: MD & CEO

SRINAGAR, MAY 12 : Posting its highest annual profit after FY 2014-15, J&K Bank today registered annual net-profit of Rs 501.56 Cr for the Financial Year 2021-22 witnessing 16%YoY growth when compared to Rs 432.12 Cr recorded last financial year, while delivering net profit of Rs 112.20Crfor Q4 of the current financial year.

The bank declared its annual and Q4 results today after the Bank’s Board of Directors approved the numbers in a meeting held here at the bank’s Corporate Headquarters.

Performance Highlights

While funding its liabilities including non-financial ones on voluntary basis by making one-time provisioning, J&K Bank today delivered net profit of Rs 501.56 Cr for the Financial Year 2021-22 and registered Rs 112.20 Cras net profit for January-March quarter of the FY 2021-22.

During the fourth quarter, the Bank’s other income rose 10%YoY to Rs 196.45 Cr while as the total income increased by 7% to Rs 1171.95 Cr.

With Cost of Deposits improving from 4.10% to 3.65%on YoY basis, the Bank’s NIM was recorded at 3.50%for the year ended March 2022. CD and CASA Ratios stood at 61.37% and 56.56% respectively for the reviewed financial year.


The Bank’s gross and net NPA as percentages to gross and net advances improved considerably to8.67 % and 2.49 % respectively when compared to 9.67% and 2.95 %,recorded last year.

NPA Coverage Ratio of the Bank witnessed marked improvement to 84.26% when compared to 81.97% a year ago.


After raising over Rs 1100 Cr as capital during the FY 2021-22, the Bank’s Capital Adequacy Ratio witnessed marked improvement from 12.20% to 13.23% thus ensuring availability of growth capital in addition to maintaining the regulatory requirements.


Posting growth of over 5% in its business, the Bank’s deposits have increased by 6%to Rs 114710.38 Cr while as the Advances have grown to Rs 70400.68 Cr. In J&K, the deposits have witnessed 7% increase while as the advances have grown by 10%.


Commenting upon the annual financial results, Bank’s MD & CEO Baldev Prakash said, “Well, numbers do tell their own story and the story is that after long we have surely strengthened and stabilized as a financial institution. We have left the worst far behind us as it’s after seven long years, the Bank has consolidated its balance-sheet and clocked over Rs 500 Cras annual profits. Our YoY and QoQ growth in business is consistent and provides the Bank requisite drive to grow and leap ahead with more strength and confidence.”

“Preferring stability and consolidation of balance-sheet over profits, the Q4 numbers express our resolve to strengthen balance-sheet while making sustained profits, as we have provided for our liabilities besides making voluntary provisioning for some non-financial obligations that were not mandated and could be met over a period of next five years as per the board approvals. This has been done consciously to provide ourselves enough head-room for delivering better returns to our investors while going forward”, he added.

Regarding the strategy for achieving Bank’s business goals, he said, “For achieving our growth objectives, a comprehensive strategy review has been completed. As last leg of the reviewing process we organised a maiden but very fruitful Strategy Conclave in Srinagar last week that helped us to conclude the most enriching and exhaustive business strategy review of the Bank and delineate the future course of action by taking the all concerned stakeholders on board.”

He further said, “Although growth in J&K has generally been around10%both for Deposits as well as advances even during the crisis situations but the green shoots of shift in stance in our Rest of India (ROI) business strategy have begun appearing with QoQ growth of 6%in our ROI loan book, which has happened after witnessing de-growth during last few consecutive years.”

Summing up his future view of the Bank’s position and performance, MD & CEO said, “With record tourist-inflow this year, Governmental emphasis on increased infra-structure spend and investment climate obtaining favorably in our core geography of J&K and Ladakh, we can see the promising scenario emerging for us as premier financial institution of the region that is expected to grow ahead and gain further significance in short as well as long-term.”

Srinagar News

Srinagar News is one of the oldest newspaper in kashmir it was founded by Late Mehraj-ud-Din Wani Sahab in 1975.

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