J&K Bank Posts Record Annual Profit of Rs 2,082.46 Crore for FY 2024-25
Jammu and Kashmir Bank achieved its highest-ever annual net profit of Rs 2,082.46 crore for FY 2024-25, a 17.83% year-on-year increase. Q4 net profit rose 10% quarter-on-quarter to Rs 584.54 crore. Net Interest Income grew 11.34% to Rs 5,793.82 crore, while Other Income increased 37.7% to Rs 1,136.81 crore. Total deposits and net advances grew by 10.24% and 11.13% respectively. Asset quality improved with Gross NPA ratio declining to 3.37%. The bank's Capital Adequacy Ratio stood at 16.29%. A dividend of Rs 2.15 per equity share has been recommended.
05May 25
Jammu & Kashmir Bank Reports Mixed Q4 Results: Net Profit Dips 9% YoY, Annual Profit Hits Record High
J&K Bank announced mixed Q4 and FY23 results. While Q4 profit declined 9% YoY to ₹585 crore, annual profit rose 18% to a record ₹2,083 crore. The bank's asset quality improved with GNPA ratio at 3.37%. Deposits grew 10.24% to ₹1.49 lakh crore and advances increased 11.13% to ₹1.04 lakh crore. A final dividend of 215% was recommended.
11Apr 25
J&K Bank Gains Temporary Relief as High Court Stays ₹16,261 Crore GST Demand
The Jammu and Kashmir High Court has issued a stay order on the ₹16,261.00 crore Goods and Services Tax (GST) demand and associated penalties imposed on Jammu & Kashmir Bank. This temporary relief allows the bank to continue normal operations without immediate financial pressure while the court examines the case further. The stay order suggests potential merit in reassessing the tax liability, but the final outcome remains uncertain pending further legal proceedings.
09Apr 25
J&K Bank Secures Court Stay on GST Demand, Providing Temporary Relief
Jammu and Kashmir Bank has obtained a court-ordered stay on tax demand orders from the Hon'ble High Court of Jammu & Kashmir and Ladakh at Srinagar. The stay temporarily halts the enforcement of GST-related demands issued by the Joint Commissioner, Central GST Commissionerate, Jammu. The court has scheduled the next hearing for May 7, 2025, providing the bank with temporary relief from immediate financial implications and additional time to prepare its case.
04Apr 25
Jammu and Kashmir Bank Reports Mixed Growth in Deposits and Advances for FY 2025
Jammu and Kashmir Bank's provisional figures for FY 2025 show a 10.24% YoY increase in total deposits to ₹148,569.50 crore, and a 10.32% growth in gross advances to ₹106,986.16 crore. While substantial, these figures fall short of the bank's initial projections. CASA deposits grew by 2.60%, but the CASA ratio declined by 350 basis points to 47.01%. The bank's total business expanded by 10.61% to ₹252,779.14 crore, and its gross investment portfolio saw a significant 16.05% increase to ₹41,783.74 crore.