Reportedly kashmir - SRINAGAR/JAMMU' target='_blank' title='jammu and kashmir-Latest Updates, Photos, Videos are a click away, CLICK NOW'>jammu and kashmir bank is firmly moving on a path towards growth despite some of the recent events, Financial Commissioner, Finance, Arun Kumar Mehta said Tuesday. The bank has shown profitability for the 8th straight quarter and posted a net profit of Rs 465.00 crore in the last fiscal, bank officials said.
The operational performance of the bank with regard to all the banking parameters has been satisfactory with the figures of advances and deposits during the five months of the current fiscal showing an increase of Rs 900.00 crore and Rs 2,030 crore, respectively from those over the corresponding period during the last fiscal, Mehta said. This was revealed in a meeting held on wednesday by the Financial Commissioner, Finance with the J&K bank officials.
While informing that the aggregate credit and deposits have grown substantially year on year (YoY) basis, CMD J&K bank, rk Chibber, indicated that the bank has shown YoY credit growth of 16 per cent, which is indicative of a robust growth momentum.