Srinagar, Dec 31 : Jammu and Kashmir Bank continues to widen it’s presence inJammu and Kashmir and outside has opened as it opened 9 new branches, installed 32 ATMs, 4 EBUs and 3 new cluster offices in 2022.
According to details, the new branches were opened in several zonal offices including 2 in Pulwama, one each in Budgam, Kathua, Srinagar, Jammu, Udhampur, Baramulla and Ladakh.
Details reveal 3 cluster offices were opened in, Bangalore, Mohali, and Lucknow and 4 EBUs single person branches were also opened.
In a first after around 7 years, the Gross Non-Performing Asset (NPA) ratio has sharply come below 8 percent and the bank also recorded profit of around 500 Crore after gap of 5 years.
The bank has reported a rise of 25.12% in its net profit at Rs 307.92 crore for the quarter, as compared to Rs 246.09 crore for the same quarter in the previous year.
Total income from operation of the bank has increased by 9.36% to Rs 1716.47 crore for the quarter under review as compared to Rs 1569.53 crore for the quarter ended June 30, 2012.
The J&K Bank functions as a leading bank in Jammu & Kashmir and Ladakh and is designated by Reserve Bank of India as its exclusive agent for carrying out banking business for the Government of Jammu & Kashmir and Ladakh.
J&K bank caters to banking requirements of various customer segments which includes Business enterprises, employees of government, semi-government and autonomous bodies, farmers, artisans, public sector organizations and corporate clients.
The bank also offers a wide range of retail credit products, including home, personal loans, education loan, agriculture, trade credit and consumer lending, a number of unique financial products tailored to the needs of various customer segments.
To acquire an enhanced business footprint across geographies and emerge as a prominent national brand in the financial sector.
Taking technology as a cutting-edge tool in revolutionizing the digital banking landscape, the Bank this year has won the ‘Best Digital Financial Inclusion Initiatives’ Award in the prestigious ‘Indian Banks’ Association’s (IBA) ‘17th Annual Banking Technology Conference and Awards: 2020-21.’