Srinagar, Oct 22 (KNO): Jammu and Kashmir Bank on Thursday said a 28.8 per cent quarter-on-quarter and 10.6 per cent year-on-year increase in net profit to Rs 546.36 crore for the second quarter ended September 30, 2026.
As per the details available with the news agency—Kashmir News Observer (KNO), the bank’s net profit stood at Rs 424.18 crore in the first quarter of the current financial year and Rs 494.11 crore in the corresponding quarter last year.
According to the bank, its total business grew 19.38 per cent year-on-year to Rs 3,10,347 crore as of September 30, while asset quality improved to its best levels in a decade.
The bank’s net interest income rose 5 per cent year-on-year to Rs 1,502 crore during the quarter, while other income more than doubled to Rs 314.90 crore from Rs 153.76 crore a year ago.
Operating profit for the first half of the financial year increased over 15 per cent year-on-year to Rs 1,492 crore. The cost-to-income ratio improved to 56.57 per cent from 60.79 per cent in the corresponding quarter last year, while return on assets rose to 1.07 per cent.
The bank’s gross non-performing assets (NPA) ratio declined to 2.23 per cent, down 109 basis points year-on-year, while the net NPA ratio improved to 0.51 per cent from 0.76 per cent a year ago.
The provision coverage ratio stood at 91.76 per cent as of September 30, compared with 90.53 per cent at the end of June. The bank’s gross advances increased 23.72 per cent year-on-year to Rs 1,33,551 crore, while total deposits grew 16.30 per cent to Rs 1,76,796 crore.
Current Account and Savings Account (CASA) deposits rose 1.73 per cent quarter-on-quarter, with the CASA ratio standing at 41.97 per cent. The bank said more than 60 per cent of its net incremental credit on a year-to-date basis came from the retail, agriculture and micro, small and medium enterprises (RAM) segment.
Commenting on the results, J&K Bank MD and CEO Amitava Chatterjee said growth in net interest income, higher other income and improved operating profit reflected a strengthening of the bank’s earnings.
He attributed the improvement in asset quality to disciplined lending and proactive credit monitoring, adding that the gross NPA ratio had reached its lowest level in a decade.
Chatterjee said the bank would focus on sustaining income growth, strengthening deposits, improving recoveries and managing funding costs during the second half of the financial year.
He added that the bank was working towards its Vision 2030 target of increasing total business to Rs 5 lakh crore, with a focus on strengthening its presence in Jammu and Kashmir and Ladakh while selectively expanding elsewhere in the country. The bank’s capital adequacy ratio stood at 16.57 per cent as of September 30, compared with 15.27 per cent a year earlier, it said.—(KNO)