Focus on agri, retail loans drives J&K Bank’s profit growth, says MD
SRINAGAR, Jul 28 (PTI): Jammu and Kashmir Bank’s focus on agriculture and retail lending has helped it register a record profit of Rs 485 crore in April-June, the bank’s MD & CEO Amitava Chatterjee said on Monday.
J&K Bank on Friday said its profit after tax at Rs 484.84 crore in the April-June period of FY26 was the highest-ever in a first quarter so far. The latest Q1 profit was 16.7 per cent higher against Rs 415.49 crore recorded in the corresponding quarter a year ago.
Chatterjee further said the bank would have posted its highest-ever profit for a quarter, had it not set aside Rs 87 crore towards investment in the RRB, which was necessitated due to the amalgamation of Ellaquai Dehati Bank in the Union Territory into Jammu and Kashmir Grameen Bank.
