Jammu & Kashmir Bank reported audited standalone financial results for the quarter and financial year ended March 31, 2026, at a Board of Directors meeting held on May 05, 2026. The bank posted a standalone net profit of Rs. 2,363.47 crore for FY26, compared to Rs. 2,082.46 crore in the previous year — marking its highest ever annual profit, a rise of 13.5% year-on-year. For the quarter ended March 31, 2026, the bank recorded a net profit of Rs. 797.81 crore, up 36.5% from Rs. 584.54 crore in the corresponding quarter of the previous year.

Financial Performance

The bank's detailed Profit & Loss account reflects steady income growth alongside improved cost management. Interest earned for FY26 rose to Rs. 13,145.19 crore from Rs. 12,535.86 crore in FY25, a growth of 4.9% YoY. Net Interest Income (NII) for FY26 stood at Rs. 5,875.77 crore compared to Rs. 5,793.82 crore in FY25. Operating profit for the year improved to Rs. 2,986.48 crore from Rs. 2,929.79 crore, while Profit Before Tax (PBT) stood at Rs. 2,957.88 crore. Tax provision for FY26 declined sharply by 30.2% to Rs. 594.40 crore from Rs. 851.24 crore in FY25.

The bank's Net Interest Margin (NIM) for FY26 stood at 3.60% (vs. 3.92% in FY25), while for Q4 FY26 it was 3.52% (annualized) compared to 3.88% in Q4 FY25. The Cost to Income Ratio improved to 56.18% for FY26 from 57.69% in FY25, and further to 47.86% for Q4 FY26 versus 57.48% in Q4 FY25. Yield on Advances for FY26 stood at 8.98% compared to 9.56% in FY25, while Cost of Deposits declined to 4.70% from 4.75%. Earnings Per Share (EPS) for FY26 was Rs. 21.49 compared to Rs. 18.91 for the previous financial year.

Asset Quality and Capital Adequacy

The bank's asset quality showed notable improvement during the year. Gross Non-Performing Assets (NPAs) declined to 2.50% of gross advances from 3.37% in the previous year, while Net NPAs improved to 0.64% from 0.79%. In absolute terms, Gross NPAs stood at Rs. 3,124.84 crore as on March 31, 2026, down from Rs. 3,604.84 crore a year ago. Net NPAs in absolute terms stood at Rs. 785.13 crore. The NPA Coverage Ratio (PCR) stood at 90.33% as on March 31, 2026, compared to 90.28% a year earlier.

The capital adequacy ratio (Basel III) strengthened to 16.55% from 16.29%, with the CET1 ratio at 13.54% and the Tier 1 ratio at 14.44%. Net worth as at March 31, 2026 stood at Rs. 15,045.68 crore, while Reserves and Surplus increased to Rs. 16,639.73 crore from Rs. 14,141.81 crore.

Business Growth and Balance Sheet

Total business surged 13.61% year-on-year to Rs. 2,90,341 crore as on March 31, 2026. Total deposits were up 11.3% YoY to Rs. 1,65,354 crore, while gross advances expanded by 16.8% YoY to Rs. 1,24,981 crore and net advances grew 18% YoY to Rs. 1,22,641 crore. CASA deposits grew by 8.07% YoY to Rs. 75,478 crore, with the CASA Ratio at 45.65% as on March 31, 2026 compared to 47.01% a year ago. The Credit-to-Deposit (CD) Ratio stood at 74.17% versus 70.13% in the previous year.

Deposit growth was driven by both regions, with J&K UT deposits rising 10.0% to Rs. 1,36,831 crore and Rest of India (including Ladakh UT) deposits growing 18.2% to Rs. 28,523 crore. Term deposits for the bank as a whole grew 14.2% YoY to Rs. 89,876 crore, Saving Deposits rose 8.4% to Rs. 58,086 crore, and Demand Deposits grew 7.1% to Rs. 17,392 crore.

Sectoral and Geographical Advances Breakup

Gross advances for the bank as a whole stood at Rs. 1,24,980.72 crore as on March 31, 2026. Geographically, J&K UT accounted for Rs. 76,159 crore (60.9%) of gross advances, while Rest of India (including Ladakh UT) contributed Rs. 48,822 crore (39.1%). Gross advances in Rest of India grew sharply by 30.9% YoY. The sector-wise breakup of advances and NPAs is presented below.

The movement in Gross NPAs during FY26 showed additions of Rs. 877.81 crore and recoveries (including upgradations, write-offs, and settlements) aggregating to Rs. 1,357.82 crore, resulting in a closing Gross NPA balance of Rs. 3,124.84 crore, down 13.3% from Rs. 3,604.84 crore at the start of the year.

Investments and Operational Metrics

Total investments stood at Rs. 40,821.86 crore as on March 31, 2026, marginally lower by 1% YoY. Of this, Held to Maturity (HTM) securities accounted for 66.73% at Rs. 27,238.58 crore, while Available for Sale (AFS) securities stood at Rs. 12,490.61 crore (30.60%). SLR securities comprised 84.47% of total investments at Rs. 34,480.54 crore. The total investment portfolio duration stood at 3.21 years as on March 31, 2026, compared to 3.17 years a year ago. Yield on the total investment portfolio for FY26 was 6.69% versus 6.84% in FY25.

On the operational front, Business per Employee improved to Rs. 23.64 crore for FY26 from Rs. 20.18 crore in FY25, while Net Profit per Employee (annualized) rose to Rs. 19.47 lakh from Rs. 16.65 lakh. The bank had 11,934 employees, 1,017 branches, and 1,437 ATMs as on March 31, 2026. Business per Branch stood at Rs. 282.16 crore for FY26 versus Rs. 247.62 crore in FY25.

Key Disclosures and Shareholding

The bank's investment of Rs. 345.92 crore in its associate, Jammu & Kashmir Grameen Bank, resulted in an impairment provision of Rs. 228.65 crore. The bank also effected a prior period appropriation of Rs. 23.94 crore and recovered prior period interest of Rs. 131.72 crore from the government under the Ladli Beti Scheme. The bank spent Rs. 45.66 crore towards Corporate Social Responsibility activities during the year. The restructured loan portfolio stood at Rs. 2,259.61 crore as on March 31, 2026, up 43.3% from Rs. 1,576.94 crore a year ago, with NPAs out of the restructured portfolio declining to Rs. 544.99 crore from Rs. 966.10 crore.

The shareholding pattern as on March 31, 2026 shows the Governments of UTs of J&K and Ladakh (Promoters) holding 59.40% of the bank's share capital, unchanged from the previous year. Resident Individuals held 21.16%, FII/FPI 8.34%, Indian Mutual Funds 3.89%, Body Corporates 2.66%, Non-Resident Indians 1.95%, Indian Financial Institutions 1.78%, and others the remaining balance.

Jammu & Kashmir Bank Limited has announced the cessation of Mr. Ambrish Kumar Mishra as Chief Vigilance Officer (CVO) upon completion of his term. The bank formally communicated this development to stock exchanges on April 24, 2026, ensuring compliance with regulatory disclosure requirements.

Key Details of the Cessation

The cessation became effective from the close of business hours on April 23, 2026. As per the bank's disclosure, Mr. Mishra's departure was due to the natural completion of his term rather than resignation or removal. With his cessation as CVO, he has also ceased to be a Senior Management Personnel of the bank.

Regulatory Compliance and Communication

The bank's disclosure was made pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was sent to both major stock exchanges where the bank's shares are listed.

The formal communication was addressed to:

• National Stock Exchange of India Limited at Exchange Plaza, Bandra Kurla Complex, Mumbai
• The BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai

Official Documentation

Company Secretary Mohammad Shafi Mir signed the disclosure document digitally, with the communication bearing reference number JKB/BS/F3652/2026/017 dated April 24, 2026. The disclosure includes comprehensive details as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The bank emphasized that this information is being shared for appropriate market dissemination, ensuring transparency in corporate governance matters. The cessation represents a routine organizational change following the natural completion of the officer's designated term.