Highlights: Half-yearly (H1) net profit for the Current Financial Year (2021-22) jumped over four-times Year-on-Year (YoY) to Rs 215.41 Cr when compared with Rs 50.43 Cr recorded during the corresponding period of the last financial year. September quarter (Q2), 2021, the Bank posted Rs 111.09 Cr as net profit registering 153% rise as compared to Rs 43.93 Cr recorded for the corresponding quarter previous year. During the reported quarter, J&K; Bank’s net interest income (NII) rose by 3 per cent YoY to Rs 973.14 Cr as compared to Rs 942.61 Cr recorded last year. Meanwhile, the net interest margin (NIM) for the quarter was at 3.65%. Asset-quality remained stable as net NPA’s of the Bank as percentage to net Advances ratio stood at 3.02 % while as the Bank's gross NPA ratio has improved by 74 basis points in sequential terms to 8.95 % from 9.69% recorded for earlier quarter. The Provision Coverage Ratio (PCR) of the Bank increased by 117 basis points to 81.57% from 80.40% recorded last year Return on Assets (RoA) has risen sharply YoY from 0.16% to 0.38% while as the Return on Equity (RoE) has more than doubled YoY to 6.98% from 3.23%. The total net advances of the bank stood at Rs 68341.84 Cr as on September 30, 2021 compared to Rs 66841.73 Cr recorded last year. The total deposits rose by around 6% to Rs 106267.35 Cr from Rs 100469.15 Cr recorded during the corresponding quarter last year with CASA figure at 55.34 % as against 53.32 % recorded on September 30, 2020. Attributing the improved bottom-line to the growing synergy between Bank’s strategy, operations and supervision, Chairman & MD R K Chhibber expressed his satisfaction over the results delivered by the Bank. “It’s a good result in given circumstances. We are poised for a long-term growth as the numbers clearly reflect the momentum steadily gaining across our performance indicators. With a stronger and healthier balance-sheet, we can foresee conditions obtaining favorably for realizing our short-term business objectives besides meeting the longterm challenges”, the CMD said. “Every measure is put in place to improve the asset-quality and so far we have successfully maintained the quality of our loan book. We are also maintaining the NPA coverage ratio at over 80 percent”, commented the CMD. “We have maintained the double-digit growth of over 11% in advances in our core operational geography of J&K;, which forms the major bulk of our business besides affording us a very strong deposit profile with one of the best industry-wide mix of CASA and Term Deposits that are mostly retail and thus stable”, said the CMD. Result PDF