Jammu and Kashmir Bank Reports Strong Q3 Performance Amidst Challenges

Jammu and Kashmir Bank announced a 10.4% increase in net profit for Q3 FY26, with a sequential growth of 18.7%. Net profit rose to Rs 586.73 crore, with improvements in net interest margin and cost-to-income ratio. Despite challenges, the bank's asset quality and growth remain robust.

Jammu and Kashmir Bank has reported a promising financial performance for the third quarter of FY26, showing a 10.4% annual increase in net profit and an 18.7% sequential growth. The bank's net profit reached Rs 586.73 crore, rising from Rs 531.51 crore during the same period last year as per an official statement.

During a board meeting, the directors approved the quarterly results for the third quarter and the nine-month period. Key metrics indicate maintained growth; the Net Interest Margin improved by 6 basis points, while the cost-to-income ratio decreased to 55.88% and the Return on Assets was reported at 1.23%.

Despite facing obstacles like the Pahalgam attack and subsequent economic disturbances, the bank's asset quality showcased resilience, with a decline in the Gross NPA ratio from 4.08% to 3%. Managing Director Amitava Chatterjee expressed confidence in the bank's trajectory towards another record-breaking profit year.

(With inputs from agencies.)