Jammu & Kashmir Bank has released its provisional business update for Q3FY26, demonstrating strong growth momentum across key financial metrics. The bank reported total business of ₹2,72,109.27 crores as of December 31, 2025, marking a significant 13.34% year-on-year increase from ₹2,40,080.49 crores in the corresponding quarter of the previous fiscal year.

Financial Performance Overview

The bank's financial performance reflects robust expansion across its core business segments amid a competitive banking environment. The disclosure, made under SEBI regulations for fair disclosure of unpublished price-sensitive information, provides insights into the bank's operational progress during the third quarter.

Deposit Growth and Composition

The bank's deposit base showed steady growth, reaching ₹1,55,861.35 crores in Q3FY26, representing a 10.58% increase from ₹1,40,947.14 crores in the same quarter last year. This growth reflects the bank's continued ability to attract customer deposits through both retail and institutional segments, despite the competitive banking environment.

However, the CASA (Current Account Savings Account) composition experienced a notable shift during the period:

The decline in CASA ratio to 44.10% indicates a higher share of term deposits in the overall deposit mix, reflecting the modest pace of expansion in low-cost deposits.

Advances and Investment Portfolio

The bank demonstrated strong lending growth with gross advances reaching ₹1,16,247.92 crores, marking an impressive 17.26% year-on-year increase. This substantial growth in the loan portfolio indicates robust credit demand and the bank's successful lending initiatives, supporting the overall business expansion.

Conversely, the bank's gross investment portfolio contracted by 2.07% to ₹40,535.76 crores from ₹41,394.29 crores in the previous year. This decline suggests a strategic shift in asset allocation, possibly reflecting the bank's focus on expanding its lending operations.

Market Performance and Regulatory Compliance

The bank's shares ended 1.37% higher at ₹102.42 ahead of the business update announcement, reflecting positive investor sentiment. The quarterly business update provides a snapshot of the bank's operational performance ahead of its detailed financial results.

The business update was filed in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. The bank emphasized that the reported figures are provisional and subject to audit or review, maintaining transparency in its financial reporting process.

The disclosure was signed by Mohammad Shafi Mir, Company Secretary, and submitted to both the National Stock Exchange of India Limited and BSE Limited, ensuring timely communication with stakeholders and regulatory authorities.

Jammu & Kashmir Bank Limited has announced the resignation of Dr. Pawan Kotwal, IAS, from his position as Non-Executive Non-Independent Director, effective January 01, 2026. The resignation follows his attaining the age of superannuation on December 31, 2025.

Board Change Details

The bank has informed both the National Stock Exchange of India Limited and The BSE Limited about this directorship change in compliance with Regulation 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Communication

Dr. Kotwal formally communicated his resignation through a letter dated January 01, 2026, addressed to the Board of Directors. In his resignation letter, he stated that he was tendering his resignation "consequent upon my attaining the age of superannuation on 31st December, 2025" and requested that his resignation be accepted with immediate effect.

The outgoing director expressed his appreciation to the Board, Management, and fellow Directors for their cooperation and support during his tenure. He noted that "it has been a privilege to serve the Bank" and wished the institution "continued growth and success in the years ahead."

Regulatory Compliance

The bank has fulfilled its disclosure obligations under SEBI regulations by providing the requisite details as prescribed under Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification also complies with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Mohammad Shafi Mir, Company Secretary of Jammu and Kashmir Bank Limited, signed the official communication to the stock exchanges, confirming that Dr. Kotwal has ceased to be a Director on the Board of the Bank following his resignation.