PHD Chamber Kashmir Felicitates Chairman J&K Bank
Srinagar, May 29: PHD Chamber of Commerce and Industry Kashmir (PHDCCI) on Tuesday felicitated J&K Bank Chairman and CEO Parvez Ahmed for steering the Bank out of a tumultuous phase and spurring it to a profit of 464 crore rupees in the financial year 2018-19.
A delegation of the chamber led by Chairman Mushtaq Chaya presented souvenirs to the Chairman to mark the remarkable turnaround of the Bank from a loss of 1632 crores rupees in the financial year 2016-17 to eight consecutive quarters of profitability, thus strengthening further the top and bottom-line of the Bank besides redirecting the flow of credit to the productive sectors of the state economy.The Chairman PHD Chamber of Commerce and Industry Kashmir alongwith his team commended the vision of the Chairman to project a profit of 2000 crore rupees by the year 2022.
The delegation that included Co-Chairmen Baldev Singh Raina and Zahoor Ahmad Tramboo extolled the Chairman and his team for mitigating the crisis and steering the Bank out of the red zone in the “quickest possible time” besides concurrently providing employment opportunities to the youth of the state.
Speaking on the occasion, the Chairman acknowledged the unflinching trust of the business community in the brand JK Bank and said,” I feel humbled by the magnanimity, love and affection shown by the members of the Business fraternity today and on earlier occasions.”He emphasized on the necessity to leverage ‘Brand J&K Bank’as an instrument for the overall socio-economic development of the state and beyond. Adding that the trust and faith showed by the people of the state needs to be reciprocated by bringing in a perpetual cycle of prosperity.
“While financing in the state of J&K and beyond, we need to ensure that our objective of ‘Serving to Empower’ is met. Employment generation is to be ensured besides promoting the business community by providing growth capital in a hassle free manner,” he said.
Reiterating the trust reposed by the people of J&K state in the state’s premier financial institution, the delegation expressed a feeling of pride for being associated with the Bank which, they said, “is the only bank they bank upon” and a buttress to the trade and the business community. They requested the chairman to introduce schemes for the development of sports and medical infrastructure, promotion of education sector as well as poultry and sheep segments on the lines of the famed indigenous Apple Finance Scheme of the Bank.
KV Network
