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Jammu and Kashmir Bank Ltd News

JK Bank Q4 Results: Bank reports highest-ever annual profit of Rs 1,767 cr

Jammu and Kashmir Bank on Saturday reported its highest-ever annual profit at Rs 1,767 crore for 2023-24. Its Managing Director and CEO Baldev Prakash said the net profit surged 48 per cent compared to the previous fiscal. "Beating its own highest-ever record of profits achieved only last year, the net profit surged in fiscal 2023-24 by 48 per cent to achieve its record profit figure of Rs 1,767 crore," Prakash told PTI after the bank's annual results for FY 2023-24 were released bank here. He said the bank will be sharing the historic profits with its shareholders by making the highest dividend payment of around Rs 236.75 crore this year. The bank witnessed a 10 per cent increase in its total income to Rs 6,029.17 crore from Rs 5,502.09 crore. It had posted a profit of Rs 1,197 crore last fiscal, which was the highest profit till last year. Prakash said the bank's asset quality has improved by bringing the gross non-performing assets to a decadal low of 4.08 per cent, while the

JK Bank Q4 Results: Bank reports highest-ever annual profit of Rs 1,767 cr
Updated On : 04 May 2024 | 7:11 PM IST

J&K Bank Q3 net profit jumps 35% to Rs 421 crore as bad loans decline

J&K Bank on Saturday reported a 35 per cent rise in net profit to Rs 421 crore in the third quarter ended on December 2023 on the back of a decline in bad loans and improvement in core income. The bank had earned a net profit of Rs 311 crore in the October-December quarter of 2022. The total income of the bank increased to Rs 3,063 crore in the quarter as compared to Rs 2,682 crore in the December quarter of the previous fiscal, J&K Bank said in a regulatory filing. The bank's interest income rose during the third quarter of the current fiscal to Rs 2,881 crore, as against Rs 2,441 crore in the same period last fiscal. The gross non-performing asset (NPA) ratio improved to 4.84 per cent as of December 31, 2023, as against 7.25 per cent as of December 31, 2022. Similarly, the net NPA also declined to 0.63 per cent as compared to 2.08 per cent at the end of December 2022. Provision coverage ratio as of December 31, 2023, is 91.61 per cent without taking into account the floating

J&K Bank Q3 net profit jumps 35% to Rs 421 crore as bad loans decline
Updated On : 20 Jan 2024 | 7:04 PM IST