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Jammu
& Kashmir Bank net profit rises
Our Banking
Bureau
8 July 2002
 Srinagar:
Jammu and Kashmir Bank has posted a net profit of Rs 72.30 crore
in the first quarter of this fiscal. The total income of the bank
has registered an increase of 158 crore.
The operating profits
jumped by Rs 116.06 crore — registering an increase of Rs 12.16
crore over the corresponding period last fiscal.
Last fiscal the bank’s
turnover registered an all-time high of Rs 19,335 crore with the
lowest non-performing assets of 1.88 crore. J&K Bank chairman
Mohammed Yousuf Khan says under the annual credit plan of 2001-02,
the banks were provided Rs 536.50 crore in favour of 52,204
beneficiaries.
 "Our
contribution was Rs 220.64 crore, which is 41.13 per cent of the
aggregate achievement made by all banks in the state during the
year," he says. There are 29 banks, including 18 nationalised
banks, operating in the state with 978 branches.
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