Jammu and Kashmir Bank Ltd

The bank's net interest income (NII) increased by 17.8% YoY to Rs 1,508.68 crore for the December quarter when compared to Rs 1,280.5 crore recorded last year. Operating profit grew by 35.89% YoY to Rs 748.11 crore for the December 2024 quarter. The bank's net interest margin (NIM) for the quarter has improved to 4.04%. Return on assets (RoA) increased by 19 basis points YoY to 1.34% for the quarter, while the cost-to-income ratio reduced for the quarter to 57.28% YoY from 62.36%. The bank recorded significant growth in business volumes, with net advances increasing by 7% YoY to Rs 95,990.38 crore. Deposits grew by 9.7% YoY to Rs 1,40,947.14 crore, while maintaining one of the best CASA ratios in the industry at 48.17%. The bank's gross non-performing assets (NPAs) stood at Rs 4,041.04 crore as on 31 December 2024, as against Rs 4,526.48 crore as on 31 December 2023 and Rs 3,916.26 crore as on 30 September 2024. The ratio of gross NPAs to gross advances stood at 4.08% as of 31 December 2024, as against 3.95% as of 30 September 2024 and 4.84% as of 31 December 2023. The ratio of net NPAs to net advances stood at 0.94% as of 31 December 2024, as against 0.85% as of 30 September 2024 and 0.83% as of 31 December 2023. Amitava Chatterjee, MD & CEO said, 'These Q3 results reaffirm our strong fundamentals and operational efficiency. A 26.2% YoY increase in quarterly net profit, along with a 32.7% rise for the nine-month period, highlights our sustained focus on delivering value to stakeholders while navigating dynamic market conditions. Driven by efficiency gains, our cost-to-income ratio has also reduced by over 5% YoY.' 'We are well-cushioned in terms of capital with our CAR at over 15%, which will be further boosted by internal accruals on account of net profit for current fiscal. It provides us an ample headroom for expanding our lending operations. Despite financial services sector witnessing heavy FPI outflow during 2024, there is an increase in FII/FPI shareholding to 7.07% as on 31st December, 2024 from 5.81% recorded a year ago,' he added. J&K Bank offers banking services under the three major divisions as support services, depository services, and third-party services. Shares of J&K Bank declined 2.14% to Rs 95.85 on the BSE. Powered by Capital Market - Live

Net profit of Jammu and Kashmir Bank rose 25.03% to Rs 528.60 crore in the quarter ended December 2024 as against Rs 422.77 crore during the previous quarter ended December 2023. Total Operating Income rose 11.40% to Rs 3209.67 crore in the quarter ended December 2024 as against Rs 2881.20 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Total Operating Income3209.672881.20 11 OPM %68.9768.56 - PBDT758.46560.86 35 PBT758.46560.86 35 NP528.60422.77 25 Powered by Capital Market - Live

Jammu & Kashmir Bank will hold a meeting of the Board of Directors of the Company on 20 January 2025.Powered by Capital Market - Live

Total business stood at Rs 2,36,987.48 crore as of 31st December 2024, up 8.56% as compared with Rs 2,18,294.83 crore as of 31st December 2023. CASA Deposits rose 4.39% YoY to Rs 67,888.01 crore as of 31st December 2024. CASA was at 48.17% as of 31st December 2024 as against 50.59% as of 31st December 2023. Gross advances increased 5.98% to Rs 99,134.05 crore as of 31st December 2024 as compared with Rs 93,538 crore as of 31st December 2023. Gross investment jumped 26.97% to Rs 41,394.29 crore as of 31st December 2024 as compared with Rs 32,602.59 crore as of 31st December 2023. Jammu & Kashmir Bank is a private sector scheduled commercial bank. The bank's standalone net profit jumped 44.6% to Rs 550.92 crore on 15.7% increase in total income to Rs 3,419.63 crore in Q2 FY25 over Q2 FY24. The scrip declined 3.13% to Rs 97.55 on the BSE.Powered by Capital Market - Live

Jammu and Kashmir Bank announced that Amitava Chatterjee (DIN: 07082989) has today i.e 30 December 2024 joined the Bank as Managing Director and Chief Executive Officer (MD & CEO). Powered by Capital Market - Live

Jammu and Kashmir Bank announced the appointment of Amitava Chatterjee (DIN: 07082989) as Managing Director and Chief Executive Officer of the Bank for a period of three years to be effective from 30 December 2024. Powered by Capital Market - Live

Amitava Chatterjee has completed his Master's in Business Administration from ICFAI University Hyderabad besides having qualified the CAIIB offered by IIBF. He is presently deputy managing director, SBI and has also served as MD&CEO of SBICAPS. Chatterjee has an illustrious career in banking spanning over more than three decades in diverse geographical locations and strategic positions. His diverse experience includes heading the SBI's operation as CGM New Delhi, circle and Jaipur Circle with high end clientele like PSUs, NBFCs, and DISCOMs. He has shouldered responsibilities that included business development, risk & compliance management, HR Functions with his previous employer besides interacting and participating in various industry and government forums. Jammu & Kashmir Bank is a private sector scheduled commercial bank. The bank's standalone net profit jumped 44.6% to Rs 550.92 crore on 15.7% increase in total income of Rs 3,419.63 crore in Q2 FY25 over Q1 FY24. The counter rose 0.74% to end at Rs 98.12 on 24 December 2024.Powered by Capital Market - Live

Net profit of Jammu and Kashmir Bank rose 44.04% to Rs 552.78 crore in the quarter ended September 2024 as against Rs 383.77 crore during the previous quarter ended September 2023. Total Operating Income rose 12.99% to Rs 3123.65 crore in the quarter ended September 2024 as against Rs 2764.44 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Total Operating Income3123.652764.44 13 OPM %68.6264.48 - PBDT756.82545.20 39 PBT756.82545.20 39 NP552.78383.77 44 Powered by Capital Market - Live

Jammu & Kashmir Bank will hold a meeting of the Board of Directors of the Company on 25 October 2024.Powered by Capital Market - Live

Fine Organic Industries Ltd, Balaji Amines Ltd, SKF India Ltd, HEG Ltd are among the other stocks to see a surge in volumes on BSE today, 18 September 2024.Jammu and Kashmir Bank Ltd registered volume of 45.25 lakh shares by 10:48 IST on BSE, a 16.22 fold spurt over two-week average daily volume of 2.79 lakh shares. The stock rose 1.16% to Rs.104.95. Volumes stood at 5.12 lakh shares in the last session.Fine Organic Industries Ltd witnessed volume of 7681 shares by 10:48 IST on BSE, a 8.27 times surge over two-week average daily volume of 929 shares. The stock increased 6.70% to Rs.5,548.90. Volumes stood at 2320 shares in the last session.Balaji Amines Ltd recorded volume of 31880 shares by 10:48 IST on BSE, a 5.37 times surge over two-week average daily volume of 5941 shares. The stock gained 4.34% to Rs.2,401.75. Volumes stood at 9239 shares in the last session.SKF India Ltd clocked volume of 6287 shares by 10:48 IST on BSE, a 4.31 times surge over two-week average daily volume of 1460 shares. The stock gained 0.51% to Rs.5,448.50. Volumes stood at 1499 shares in the last session.HEG Ltd registered volume of 30736 shares by 10:48 IST on BSE, a 4.23 fold spurt over two-week average daily volume of 7271 shares. The stock rose 8.56% to Rs.2,292.20. Volumes stood at 5798 shares in the last session.Powered by Capital Market - Live