Jammu and Kashmir Bank Reports Impressive Profit Surge in Q2

Jammu and Kashmir Bank reported a 45% rise in Q2 standalone profit to Rs 551 crore. The growth was driven by increased core and non-core income, with net profit for the first half of FY25 rising by 36.6% to Rs 966.41 crore. The bank's MD and CEO, Baldev Prakash, highlighted the institution's digital transformation and asset quality management as key factors in its financial performance.

Jammu and Kashmir Bank has announced a robust growth in its financial performance, with a 45% increase in standalone profit for the September quarter, reaching Rs 551 crore compared to Rs 381.07 crore a year ago.

For the first half of the fiscal year 2025, the bank's net profit surged by 36.6% to Rs 966.41 crore, buoyed by significant gains in both core and non-core income.

MD and CEO Baldev Prakash attributed the success to the bank's financial diligence, asset quality management, and ongoing digital transformation. The bank's net interest income rose by 7.7% YoY, with other income up by 55.6%, demonstrating strong operational results.

(With inputs from agencies.)