J&K Bank Aims for ₹5,000 Crore Profit and Near-Zero Net NPAs in Three Years
In 2-3 years, we aim for ₹5K-cr profit and near-zero net NPA: J&K Bank CEO
Business Standard
Image: Business Standard
Jammu and Kashmir Bank, led by CEO Amitava Chatterjee, targets a profit of ₹5,000 crore and aims to reduce net non-performing assets (NPAs) to near zero within three years. The bank plans to enhance its retail presence outside Jammu and Kashmir, with a goal of achieving a 50:50 business split between J&K and the rest of India.
- 01J&K Bank aims for ₹5,000 crore profit and near-zero net NPAs in the next three years.
- 02The bank's business mix is shifting from 70:30 (J&K to outside) to a target of 50:50.
- 03Retail business outside J&K has shown double-digit growth this year.
- 04Credit growth is projected at 12% for FY27, with a conservative outlook due to economic uncertainties.
- 05The bank's net interest margins (NIMs) are expected to improve, guided conservatively at 3.5 to 3.6%.
Advertisement
In-Article Ad
Jammu and Kashmir Bank, under the leadership of MD and CEO Amitava Chatterjee, is setting ambitious targets to become a national player in the banking sector. The bank aims to achieve a profit of ₹5,000 crore and reduce net non-performing assets (NPAs) to near zero within the next three years. Currently, the bank's business is skewed towards Jammu and Kashmir, with a distribution of 63:37 between J&K and the rest of India. The goal is to shift this balance to 50:50 by enhancing its retail operations outside J&K, particularly in regions such as Delhi, Mumbai, Bengaluru, and Hyderabad. The bank has reported healthy credit growth of 17% and deposit growth of 11%, with a focus on improving its current account savings account (CASA) ratio. Despite challenges, including muted net interest income (NII) growth due to external factors, the bank remains optimistic about its future, projecting a credit growth of 12% for FY27 and guiding for net interest margins (NIMs) between 3.5% and 3.6%.
Advertisement
In-Article Ad
If J&K Bank successfully expands its retail operations and achieves its profit goals, it could lead to increased employment opportunities and improved banking services for customers across India.
Advertisement
In-Article Ad
Reader Poll
Do you think J&K Bank can achieve its profit target in the next three years?
Connecting to poll...
More about Jammu and Kashmir Bank
Read the original article
Visit the source for the complete story.