J&K Bank Navigates Growth Amid Profit Decline

Jammu & Kashmir Bank reported an 8% decline in net profit for Q4 of fiscal 2024-25, despite a rise in total income. However, the bank achieved impressive annual profit growth and reduced NPAs, with plans for geographical and portfolio diversification.

In a challenging financial backdrop, Jammu & Kashmir Bank has announced an 8% decline in net profit for the fourth quarter of fiscal year 2024-25, amounting to Rs 584.54 crore. This contrasts against a profit of Rs 638.67 crore in the same period last year, as per the bank's latest filings.

However, sequential growth showed a 10% rise in net profit from the previous quarter. For the full fiscal year, net profit surged by nearly 18% to Rs 2,082.46 crore, showcasing robust annual performance alongside a 15% increase in total income for the March quarter.

CEO Amitava Chatterjee highlighted the strategic focus on both regional and national expansion, with declining NPAs and a strong CASA ratio reflecting financial health. Looking forward, J&K Bank aims to capitalize on its presence across 20 states to drive sustained growth and diversification.

(With inputs from agencies.)