Wednesday 15 May 2013

J&K Bank registers 20% profit

Jammu & Kashmir Bank registered 20 per cent rise in net profit at Rs 250 crore for its fourth quarter ended March 31. The bank had recorded a profit of Rs 208.1 crore in the same period of the previous financial year.

Total income rose to Rs 1,835.71 crore against Rs 1,479.81 crore in the same period of the previous financial year. The bank proposed a dividend of 500 per cent, or Rs 50, per share for 2012-2013.

For the entire financial year, the net profit increased 31 per cent at Rs 1,055.10 crore, compared with Rs 803.25 crore in 2011-12. Total income increased to Rs 6,620.53 crore during the year, compared with Rs 5,169.70 crore of last financial year. Gross non-performing assets (NPAs), as a proportion of advances, rose to 1.62 per cent against 1.54 per cent a year ago. Net NPAs declined 0.14 per cent from 0.15 per cent at the end of March 2012.