Jammu and Kashmir Bank's Record-Breaking Transformation in Agriculture Lending

Jammu and Kashmir Bank has achieved a record profit due to its focus on agriculture and retail lending, as reported by its MD & CEO Amitava Chatterjee. The bank posted its highest-ever first-quarter profit of Rs 484.84 crore, and introduced a successful agri loan product exceeding growth expectations.

Jammu and Kashmir Bank has announced a remarkable achievement in its first-quarter profits, reaching a historic high of Rs 484.84 crore. This achievement is attributed to the bank's strategic focus on agriculture and retail lending under the leadership of MD & CEO Amitava Chatterjee.

The bank experienced a transformation in its product offerings, specifically with an innovative all-purpose term loan for agriculture. This new product significantly contributed to a Rs 1,500 crore growth in the agricultural sector, and the bank aims to surpass its Rs 5,000 crore lending target in this segment.

Additionally, retail lending in India's broader regions saw a 50-75% improvement, marking a huge success against national competition. The bank has strategically reduced its exposure to corporate lending, enhancing its focus on universally accepted retail products like home and auto loans.

(With inputs from agencies.)