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Jammu and Kashmir Bank Ltd

Company details

0.00
0.00
23.80
62.75
6M Return 69.49%
1Y Return 25.94%
Mkt Cap.(Cr) 4,994.89
Volume 0
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 0

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Jammu & Kashmir Bank Ltd.

Q3FY23 Quarterly Result Announced for Jammu & Kashmir Bank Ltd.

Jammu & Kashmir Bank announced Q3FY23 results:

  • Q3FY23:
    • J&K Bank Net Profit witnessed a 79% rise YoY to Rs 311.59 crore for the Q3FY23 Quarter of FY23 as against Rs 173.95 crore registered for the same period last financial year.
    • Well on its trajectory to meet annual profitability targets, the bank’s profit for nine months is up 85% to Rs 721.05 crore from Rs 389.36 crore clocked during nine months of the last fiscal.
  • Performance Highlights:
    • The bank’s net interest income (NII) surged by 27% YoY to Rs 1,257.38 crore for the Q3FY23 quarter when compared to Rs 993.30 crore recorded last year, while growing 19% YoY for nine months to Rs 3,495.73 crore
    • The bank’s operating profit grew by 65% YoY to Rs 544.11 crore for Q3FY23.
    • The bank’s NIM has also improved by 54 basis points (bps) YoY to 4.10% - the highest in the last seven years - while as the return on assets rose to 0.92% for the Q3FY23 quarter from 0.57% recorded last year.
    • With a yield on advances improving by 90 bps to 9.34%, the bank’s steadily moderating cost-to-income ratio has come down further to 63.71% for the third quarter.

Commenting upon the quarterly growth numbers, MD & CEO Baldev Prakash said, “Driven largely by an improving asset quality through better SMA management and vigorous recoveries, we have achieved a better set of numbers in our December quarter. And we remain committed to sustained improvement in our overall functioning and the operating results as communicated in our financial-year guidelines.”

“And with a strict regime of early-warning systems, pro-active monitoring and review mechanisms at all levels coupled with rolling out of timely OTS schemes, we are confident of reducing our gross NPAs to around 6% by the end of fiscal”, he added.

 

Result PDF

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FINANCIALS

Sales

Operating Profit

Profit after Tax

Equity

Reserves and Surplus

Debt

Sales

Operating Profit

Profit after Tax

PE

Debt/Equity

P BV

COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 7,983.61 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 22,728.09 -29,609.20
LAST 3M 42,048.80 -31,382.80
LAST 6M 65,127.04 16,114.05
LAST 12M 194,271.06 -118,498.61

The Jammu & Kashmir Bank Limited - Copy of Newspaper Publication

Feb 08, 2023 l NSE Announcement

The Jammu & Kashmir Bank Limited - Loss of Share Certificates

Feb 06, 2023 l NSE Announcement

Date Action Type Ratio
No data found

INFORMATION

Stock PE (TTM)

4.69

Promoter Holding

68.03%

Book Value

81.4907

ROE

7.79%

Description

  • Jammu And Kashmir Bank Limited (J & K), a state owned bank was incorporated in 01 October 1938 and commenced its business from 04 July 1939 at in Kashmir (India). As on 31 December 2020, the bank had a distribution network of 956 branches and 1382 ATMs across the country. It offers banking services under the three major divisions as Support services, Depository services and Third party services. The Bank operates mainly into four segments comprising of Treasury, Corporate/wholesale banking, Retail banking and other banking operations. According to the extended Central Laws of the State, Jammu & Kashmir Bank was defined as Government of Company as per the provision of Indian companies act 1956. In the year 1971, the Bank received the status of scheduled bank. RBI declared it as `A` Class Bank in the year of 1976. During the year 1993, the Bank made tie up with Reuter News Agency for instantaneous information about global foreign currency rates and fluctuations. In the year of 1995, Banking Ombudsman Scheme was launched in June and a loan delivery system was introduced in April, which was used for large borrowers. During the year of 1998, J & K had introduced a new term deposit scheme under the title of Jana Priya Jamma Yojna carrying flexibility in the repayment schedule and in the same year the bank introduced Housing Loan and Education Loan Schemes. The Bank had entered into an agreement with IBA to connect its ATMs through a shared network in the year 1999. To offer Internet Banking and for its e-commerce initiatives, the bank made tie up with Infosys Technologies and also in the same year J&K Bank had entered into agreement with American Express to launch a co-branded credit card. J&K Bank had diversified into non-life insurance and depository business, apart from life Insurance and asset management business in the year of 2000. The Bank had launched Global Access Card (An International Debit Card) in association with Master Card International during the year of 2003. During the year 2004, J&K Bank agreed with ICICI Bank to share the ATM network. In the same year the bank had received the Asian Banking Award 2004 in Manila for its customer convenience programme. Signed MoU with Bajaj Tempo in the year of 2004. During the year 2005-06, J&K opened its branches in Chennai, Kanpur, Agra and Kolkata. Also in the same year introduced new product and services for rural finance. During the period of 2006-2007, the bank introduced various hi-tech and customer friendly products. The Bank and TATA Consultancy Services (TCS), Asia`s largest IT company signed a Memorandum of Understanding (MoU) to signal their intent to work together to create an IT blue-print for the bank. Going forward with its renewed business strategy, J & K Bank had opened its 564th branch at Lassipora, Pulwama, Srinagar in July of the year 2008. During the financial year 2013-14, 92 new branches were established; thereby taking the number of branches to 777 as on 31st March 2014, spread over 20 states and one union territory. During the financial year 2013-14, 187 ATMs, both onsite & offsite, were commissioned thereby taking the number of ATMs to 800 as on 31st March 2014. During the financial year 2014-15, 40 new branches were established; thereby taking the number of branches to 817 as on 31st March 2015, spread over 20 states and one union territory. During the financial year 2014-15, 85 ATMs were commissioned thereby taking the number of ATMs to 885 as on 31st March 2015. During the year under review, bank increased its stake in JKBFSL by 100% by contributing Rs1000 lacs in share capital of the company, increasing its paid up capital to 2000 lacs for the year ended 31st March 2015 as against Rs1000 lacs as on 31st March 2014. During the financial year 2015-16, 40 new branches were established; thereby taking the number of branches to 857 as on 31st March 2016, spread over 20 states and one union territory. During the financial year 2015-16, 121 ATMs were commissioned thereby taking the number of ATMs to 1006 as on 31st March 2016. During the financial year 2016-17, 8 new branches were established; thereby taking the number of branches to 865 as on 31st March 2017, spread over 20 states and one union territory. During the financial year 2016-17, 90 ATMs were commissioned thereby taking the number of ATMs to 1096 as on 31st March.2017. During financial year 2018-19, 36 new branches were established, thereby taking number of branches to 938 as on 31st March 2019, spread over 20 states and one union territory. During the financial year 2018-19, 96 ATMs were commissioned thereby taking the number of ATMs to1294 as on 31st March 2019. During FY 2018-19, the Bank launched a bouquet of new products such as Gold Loan Scheme, Merchant Overdraft scheme and deploying Direct Selling Agents (DSA) in ROI (Rest of India) for housing loans. During the financial year 2019-20, 15 new branches were established, thereby taking the number of branches to 955 (including IARBs)as on 31.03.2020, spread over 17 states and 4 union territories. During the financial year FY19-20, 3 EBUs/USBs were established, 66 ATMs were commissioned thereby taking the number of ATMs to 1354 as on 31.03.2020. During the FY2020, the bank has allotted an preferential allotment of 15,65,92,546 equity shares of Re. 1/- each fully paid up for cash to the Government of Jammu and Kashmir at the issue price of Rs 31.93 per equity share.

Registered Address

Moulana Azad Road, , Srinagar, Jammu & Kashmir, 190001

Tel : 91-194-2481930-35 Extn 1541-1547
Email : sharedeptt_gc:jkbmail.com
Website : http://www.jkbank.net

Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Jul
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 532209
NSE Code : J&KBANK
Book Closure Date (Month) :
BSE Group : A
ISIN : INE168A01041

ICICIdirect Jammu and Kashmir Bank Ltd FAQ

You can buy Jammu and Kashmir Bank Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Jammu and Kashmir Bank Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Feb 09, 2023 09:06 AM the closing price of Jammu and Kashmir Bank Ltd was ₹ 51.95.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Feb 09, 2023 09:06 AM, the market cap of Jammu and Kashmir Bank Ltd stood at ₹ 4,994.89.
The latest PE ratio of Jammu and Kashmir Bank Ltd as of Feb 09, 2023 09:06 AM is 4.69
The latest PB ratio of Jammu and Kashmir Bank Ltd as of Feb 09, 2023 09:06 AM is 1.57
The 52-week high of Jammu and Kashmir Bank Ltd is ₹ 62.75 while the 52-week low is ₹ 23.80

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