SRINAGAR: J&K Bank’s net profit is 119% up Year-on-Year (YoY) at Rs. 243.49 Cr in September Quarter of current financial year when compared to Rs 111.09 Cr recorded for the corresponding quarter previous year, while as, its half-yearly (H1) profit rose 90% to Rs 409.46 Cr from Rs 215.41 Cr recorded for H1 last year.
The Bank announced its financial numbers after its Board-of-Directors reviewed and approved the quarterly and half-yearly numbers during a meeting held here at Corporate Headquarters.
The Bank’s Net Interest Income (NII) is up 24% YoY at Rs 1204.12 Cr for the September quarter and 15% up at Rs 2238.35 Cr for the half year compared to corresponding periods of previous year, while the Operating Profit rose YoY by 56% and 29% for respective periods.
The Bank’s NIM has also improved to 4.04% against 3.51% recorded for the corresponding quarter last year, while as the Return on Assets has improved to 0.71% for the quarter and 0.62% for the HY. The Bank’s steadily moderating cost-to-income ratio has also come down to 64.19% for the Q2 from the above 70% levels recorded last year.