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J&K
Bank reports 35% rise in its net profit to Rs 147 crore
Our
Banking Bureau
9 October 2002
Mumbai:
Jammu
and Kashmir Bank (J&K Bank) has reported a 35.5-per
cent jump in its net profit to Rs 146.99 crore for the
first half of the financial year 2002-03 compared to Rs
108.96 crore for the same period in the previous year.
 The
operating profit for the period was higher by 41.38 per
cent at Rs 263.05 crore (Rs 186.06 crore).
The
total income of the bank touched Rs 832.96 crore for the
half-year period. During the quarter ended September 2002,
J&K Bank clocked a 41-per cent growth in its net profit
at Rs 74.7 crore.
 The
interest income grew by 4.7 per cent at Rs 347 crore (helped
largely by a 20-per cent rise), even as the interest on
advances as the income on investments fell to Rs 152.8
crore (Rs 165.2 crore).
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