Jammu & Kashmir Bank (J&K Bank) has reported significant growth across its key financial metrics for the period ending September 30, showcasing the bank's strong performance in the face of evolving market conditions.

Business Growth

J&K Bank's total business reached ₹2,57,196.94 crore, marking a substantial year-over-year increase of 9.89%. This growth reflects the bank's expanding market presence and its ability to capitalize on economic opportunities.

Deposit and Advance Growth

The bank witnessed impressive growth in both deposits and advances:

The robust growth in deposits indicates strong customer trust and the bank's effective strategies in attracting and retaining depositors. The growth in advances suggests an increased lending activity, potentially contributing to the bank's interest income.

Investment Portfolio

J&K Bank's gross investments saw the highest year-over-year growth among all reported metrics:

This significant increase in investments could indicate the bank's strategy to diversify its income sources and optimize its asset allocation.

CASA Deposits

Current Account and Savings Account (CASA) deposits, an important indicator of a bank's low-cost funding base, showed moderate growth:

However, it's worth noting that the CASA ratio decreased by 270 basis points year-over-year, settling at 45.90%. This slight decline in the CASA ratio might be an area for the bank to focus on in the coming quarters.

J&K Bank's performance demonstrates its resilience and ability to grow across various financial parameters. The bank's strategy seems to be yielding positive results, particularly in terms of overall business growth, deposit mobilization, and investment portfolio expansion. As the bank continues to navigate the dynamic banking landscape, maintaining this growth trajectory while focusing on improving its CASA ratio could be key to its future success.

Jammu & Kashmir Bank has demonstrated a remarkable financial turnaround, as evidenced by its recent dividend payout to the Union Territory (UT) administration. CEO Amitava Chatterjee presented dividend cheques totaling Rs 130.77 crore to Lieutenant Governor Manoj Sinha at Raj Bhawan.

Dividend Details

The dividend payment consisted of two cheques:

• Rs 122.85 crore
• Rs 7.92 crore

This payout represents a substantial 215 percent dividend, which was approved at the bank's 87th Annual General Meeting. The UT administration, serving as the bank's promoter and major shareholder, is the recipient of this significant dividend.

Impressive Financial Turnaround

Lieutenant Governor Sinha highlighted the bank's remarkable transformation:

This turnaround showcases the bank's improved financial health and operational efficiency over the past few years.

Bank's Role in Economic Development

The Lieutenant Governor emphasized Jammu & Kashmir Bank's crucial role in:

1. Promoting financial inclusion
2. Supporting small enterprises

These efforts align with the UT's broader economic development goals.

Future Commitments

CEO Amitava Chatterjee reaffirmed the bank's dedication to:

• Providing quality banking services
• Contributing to Mission YUVA
• Fostering economic growth across the Union Territory

The bank's commitment to these areas is expected to further solidify its position as a key player in the region's financial landscape.

This dividend payout and the bank's overall performance reflect positively on its financial health and its importance to the Union Territory's economy. As Jammu & Kashmir Bank continues to support local enterprises and drive financial inclusion, it is poised to play a pivotal role in the economic development of Jammu and Kashmir.