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Jammu & Kashmir Bank reported Q2 Net Profit of ₹494.11 Cr, down 10.3% YoY, with Net Interest Income marginally lower at ₹1433.99 Cr (-0.1% YoY). Despite this, the bank saw robust growth in total deposits, up 10.2% to ₹1,52,030 Cr, and net advances, rising 9.4% to ₹1,05,153 Cr. Asset quality improved, with Gross NPA at 3.32% (from 3.95% YoY) and Net NPA at 0.76% (from 0.85% YoY).
A significant development is over 94% of transactions are now digital. Key strategies involve continued asset quality enhancement, focus on retail, agriculture, and MSME segments, growing the CASA deposit base, and leveraging technology for efficiency. The bank also plans to expand its footprint beyond J&K and boost non-interest income. Annualized EPS for the quarter stood at ₹17.95. Management remains focused on its strategic roadmap for sustainable growth and operational excellence.