J & K BANK LTD.

Jammu and Kashmir Bank Limited (J&K Bank) is a Scheduled Commercial Bank and one of the oldest private sector banks in India, incorporated in October, 1938. J&K Bank is listed on both NSE and BSE and has its Corporate Headquarters at Srinagar. The Bank functions as a leading bank and is designated by Reserve Bank of India as agency bank for carrying out banking business for the Government of Jammu & Kashmir and Ladakh. J&K Bank caters to banking requirements of various customer segments which includes Business enterprises, employees of government, semi-government and autonomous bodies, farmers, artisans, public sector organizations and corporate clients. Group companies of the J&K Bank include JKBFSL (wholly owned subsidiary) and JK Grameen Bank (Associate RRB). The Bank offers a wide range of retail credit products, including home finance, personal loans, education loan, agriculture lending, trade credit and consumer credit of various customer segments. The Bank commenced its business from 4 July 1939 in Kashmir. It offers banking services under the three major divisions as Support services, Depository services and Third party services. 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. During the financial year 2020-21, 3 new branches were established, thereby taking the number of branches to 955 (including IARBs) as on 31.03.2021, spread over 18 states and 4 union territories. Furthermore, 3 EBUs/USBs were established, 29 ATMs were commissioned thereby taking the number of ATMs to 1383 as on 31.03.2021. The Company opened two new branches during the year-one at Anantnag in south Kashmir and another at Janipur in Jammu, which took the count to 12. During the financial year 2021-22, 25 new branches were established, thereby taking the number of branches to 980 (including IARBs) as on 31.03.2022, spread over 18 states and 4 union territories. 6 EBUs/USBs were established taking the total number of EBUs/USBs to 77, 21 ATMs were commissioned thereby taking the number of ATMs to 1404 as on 31.03.2022. During the financial year 2022-23, 10 new branches were established, thereby taking the number of branches to 990 (including IARBs) as on 31.03.2023, spread over 18 states and 4 union territories. 5 EBUs/USBs were established taking the total number of EBUs/USBs to 82 and 17 ATMs were added taking the ATM network of the Bank to 1421 as on 31.03.2023. During the financial year 2023-24, 15 new branches were established, thereby taking the number of branches to 1004 (including IARBs) as on 31.03.2024, spread over 18 states and 4 union territories. 13 EBUs/USBs were established taking the total number of EBUs/USBs to 94 and 31 ATMs were opened in FY23-24 taking the ATM network of the Bank to 1417 as on 31.03.2024. Besides 45 CRMs (Cash Recycler Machines) were opened in FY23-24 taking the total number of CRMs to 152 as on 31.03.2024. The aggregate business of the Bank stood at Rs 228537.40 Crore at the end of the financial year 2023-24. The total deposits of the Bank grew by Rs 12737.15 Crore from Rs 122037.74 Crore as on 31st March, 2023 to Rs 134774.89 Crore as on 31st March, 2024, a growth of 10.44 percent. CASA deposits of the Bank at Rs 68072.61 Crore constituted 50.51 percent of total deposits of the Bank. The net advances of the Bank stood at Rs 93762.51 Crore as on 31st March, 2024. The Bank registered a Net Profit of Rs 1767.27 Crore for the financial year 2023-24. Average Priority Sector Advances stood at Rs 43,010.17 Crore as on 31st March, 2024. During the financial year 2024-25, 15 new branches were established, thereby taking the number of branches to 1019 (including IARBs) as on 31.03.2025, spread over 18 states and 4 union territories. 3 EBUs/USBs were established taking the total number of EBUs/USBs to 97 and 14 ATMs were opened in FY24-25 taking the ATM network of the Bank to 1424 as on 31.03.2025. Besides 7 CRMs (Cash Recycler Machines) were opened in FY24-25 taking the total number of CRMs to 156 as on 31.03.2025. The aggregate business of the Bank stood at Rs 252768.18 Crore at the end of the FY2024-25. The total deposits of the Bank grew by Rs 13793.14 Crore from Rs 134776.32 Crore as on 31st March, 2024 to Rs 148569.46 Crore as on 31st March, 2025, a growth of 10.23 percent. CASA deposits of the Bank at Rs 69843.42 Crore constituted 47.01 percent of total deposits of the Bank. Net advances of the Bank stood at Rs 104198.72 Crore as on 31st March, 2025. The Bank registered a Net Profit of Rs 2082.46 Crore for the financial year 2024-25. Average Priority Sector advances stood at Rs 46048.17 Crore as on 31st March, 2025.