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J&K Bank crosses Rs 500 Cr mark in annual net-profit after seven years

Last Updated on May 12, 2022 at 8:40 pm

Posting its highest annual profit after FY 2014-15, J&K Bank today registered annual net-profit of Rs 501.56 Cr for the Financial Year 2021-22 witnessing 16%YoY growth when compared to Rs 432.12 Cr recorded last financial year, while delivering net profit of Rs 112.20 Cr for Q4 of the current financial year.

The bank declared its annual and Q4 results today after the Bank’s Board of Directors approved the numbers in a meeting held here at the bank’s Corporate Headquarters.

Performance Highlights

While funding its liabilities including non-financial ones on voluntary basis by making one-time provisioning, J&K Bank today delivered net profit of Rs 501.56 Cr for the Financial Year 2021-22 and registered Rs 112.20 Cras net profit for January-March quarter of the FY 2021-22.

During the fourth quarter, the Bank’s other income rose 10%YoY to Rs 196.45 Cr while as the total income increased by 7% to Rs 1171.95 Cr.

With Cost of Deposits improving from 4.10% to 3.65%on YoY basis, the Bank’s NIM was recorded at 3.50%for the year ended March 2022. CD and CASA Ratios stood at 61.37% and 56.56% respectively for the reviewed financial year.


The Bank’s gross and net NPA as percentages to gross and net advances improved considerably to8.67 % and 2.49 % respectively when compared to 9.67% and 2.95 %,recorded last year.

NPA Coverage Ratio of the Bank witnessed marked improvement to 84.26% when compared to 81.97% a year ago.


After raising over Rs 1100 Cr as capital during the FY 2021-22, the Bank’s Capital Adequacy Ratio witnessed marked improvement from 12.20% to 13.23% thus ensuring availability of growth capital in addition to maintaining the regulatory requirements.


Posting growth of over 5% in its business, the Bank’s deposits have increased by 6%to Rs 114710.38 Cr while as the Advances have grown to Rs 70400.68 Cr. In J&K, the deposits have witnessed 7% increase while as the advances have grown by 10%.


Commenting upon the annual financial results, Bank’s MD & CEO Baldev Prakash said, “Well, numbers do tell their own story and the story is that after long we have surely strengthened and stabilized as a financial institution. We have left the worst far behind us as it’s after seven long years, the Bank has consolidated its balance-sheet and clocked over Rs 500 Cras annual profits. Our YoY and QoQ growth in business is consistent and provides the Bank requisite drive to grow and leap ahead with more strength and confidence.”