Latest news with #AmitavaChatterjee
The Print
28-07-2025
- Business
- The Print
Focus on agri, retail loans drives J&K Bank's profit growth, says MD Amitava Chatterjee
Chatterjee further said the bank would have posted its highest-ever profit for a quarter, had it not set aside Rs 87 crore towards investment in the RRB, which was necessitated due to the amalgamation of Ellaquai Dehati Bank in the Union Territory into Jammu and Kashmir Grameen Bank. J&K Bank on Friday said its profit after tax at Rs 484.84 crore in the April-June period of FY26 was the highest-ever in a first quarter so far. The latest Q1 profit was 16.7 per cent higher against Rs 415.49 crore recorded in the corresponding quarter a year ago. Srinagar, Jul 28 (PTI) Jammu and Kashmir Bank's focus on agriculture and retail lending has helped it register a record profit of Rs 485 crore in April-June, the bank's MD & CEO Amitava Chatterjee said on Monday. 'There has been a total transformation in the way the bank has put up a product. We were almost totally dependent on Kissan Credit Cards. Now we have introduced an all-purpose term loan for agriculture that creates an investment credit. The agri sector has already seen a growth of Rs 1,500 crore this quarter,' Chatterjee told PTI in an interview. The MD said the bank has set a target of Rs 5,000 crore loan in the agriculture sector this fiscal and he hopes to cross that mark with much ease. 'Our target is to have Rs 5,000 crore this year but as I look at it, it should be much more than that. The way it has been accepted, and the offtake, I would expect it to be more than Rs 5,000 crore,' he added. Chatterjee said the agri loan product introduced by the bank right in the beginning of the financial year has been a major success. 'The offtake has been so good. I would say that it has beaten other banks, the big banks also. I have seen big banks not having that kind of growth in the agri sector, the kind of growth that we have had,' he said. Chatterjee said the bank's retail loan business in rest of India has witnessed phenomenal improvement after the lender focussed on expanding its key products there. 'It (expansion) has gone very well in the rest of India, especially the retail products. The growth has been phenomenal, it is 50 to 75 per cent improvement over last year. It was just a matter of identifying a few products since in the rest of India, you compete with all the other banks,' he said. Chatterjee said the bank will be very selective on the products and focus on those which have a universal acceptance like home loans and auto loans. He said while the retail segment has shown positive results, the bank has shed its exposure to the corporate sector. 'Retail has had very good growth this quarter. The corporate has not, because we generally lend to large corporates and they are very very competitive in nature. Consciously, we have shed a bit of it,' he said. The J&K Bank MD said during the last quarter of the previous financial year, he had very little time to work on internal processes, but the measures taken in the recent past would lead to better business growth. 'We have started it from the first quarter and it went mostly on correcting the processes which will lead to better business growth. For example, we are creating centralised processing sales for corporate, SME as well as agri,' he added. PTI MIJ HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
28-07-2025
- Business
- Time of India
Focus on agri, retail loans drives J&K Bank's profit growth, says MD Amitava Chatterjee
Jammu and Kashmir Bank's focus on agriculture and retail lending has helped it register a record profit of Rs 485 crore in April-June, the bank's MD & CEO Amitava Chatterjee said on Monday. J&K Bank on Friday said its profit after tax at Rs 484.84 crore in the April-June period of FY26 was the highest-ever in a first quarter so far. The latest Q1 profit was 16.7 per cent higher against Rs 415.49 crore recorded in the corresponding quarter a year ago. Explore courses from Top Institutes in Please select course: Select a Course Category MBA Operations Management Others Finance Public Policy Technology Data Science Data Science Data Analytics Healthcare PGDM Artificial Intelligence Product Management MCA others CXO Digital Marketing Project Management Cybersecurity healthcare Management Leadership Degree Design Thinking Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details Chatterjee further said the bank would have posted its highest-ever profit for a quarter, had it not set aside Rs 87 crore towards investment in the RRB, which was necessitated due to the amalgamation of Ellaquai Dehati Bank in the Union Territory into Jammu and Kashmir Grameen Bank. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Relive the Bollywood 2025 moments that went viral Learn More Undo "There has been a total transformation in the way the bank has put up a product. We were almost totally dependent on Kissan Credit Cards. Now we have introduced an all-purpose term loan for agriculture that creates an investment credit. The agri sector has already seen a growth of Rs 1,500 crore this quarter," Chatterjee told PTI in an interview. The MD said the bank has set a target of Rs 5,000 crore loan in the agriculture sector this fiscal and he hopes to cross that mark with much ease. Live Events "Our target is to have Rs 5,000 crore this year but as I look at it, it should be much more than that. The way it has been accepted, and the offtake, I would expect it to be more than Rs 5,000 crore," he added. Chatterjee said the agri loan product introduced by the bank right in the beginning of the financial year has been a major success. "The offtake has been so good. I would say that it has beaten other banks, the big banks also. I have seen big banks not having that kind of growth in the agri sector, the kind of growth that we have had," he said. Chatterjee said the bank's retail loan business in rest of India has witnessed phenomenal improvement after the lender focussed on expanding its key products there. "It (expansion) has gone very well in the rest of India, especially the retail products. The growth has been phenomenal, it is 50 to 75 per cent improvement over last year. It was just a matter of identifying a few products since in the rest of India, you compete with all the other banks," he said. Chatterjee said the bank will be very selective on the products and focus on those which have a universal acceptance like home loans and auto loans. He said while the retail segment has shown positive results, the bank has shed its exposure to the corporate sector. "Retail has had very good growth this quarter. The corporate has not, because we generally lend to large corporates and they are very very competitive in nature. Consciously, we have shed a bit of it," he said. The J&K Bank MD said during the last quarter of the previous financial year, he had very little time to work on internal processes, but the measures taken in the recent past would lead to better business growth. "We have started it from the first quarter and it went mostly on correcting the processes which will lead to better business growth. For example, we are creating centralised processing sales for corporate, SME as well as agri," he added.
The Print
26-07-2025
- Business
- The Print
J&K Bank profit rises 17 pc to Rs 485 crore in Apr-June
Net Interest Income (NII) during the reporting quarter grew 7 per cent year-on-year to Rs 1,465.43 crore, while the other income jumped 29 per cent to Rs 250.30 crore from Rs 194.10 crore recorded last year. The bank had reported a profit after tax (PAT) or net profit of Rs 415.49 crore in the same period of the previous fiscal year, J&K Bank said in a statement. Srinagar, Jul 25 (PTI) Jammu and Kashmir Bank on Friday posted a 16.7 per cent increase in net profit at Rs 484.84 crore in the April-June quarter of FY26. Return on Assets (RoA) in the quarter improved to 1.17 per cent from 1.08 per cent a year ago, while Net Interest Margin (NIM) stood at 3.72 per cent as against 3.86 per cent recorded in Q4FY25. Bank's cost-to-income ratio also improved to 60.78 per cent YoY, it said. Operating profit witnessed a 13 per cent increase to Rs 672.84 crore from Rs 594.67 crore recorded in the corresponding period last year, the bank said. The bank's MD and CEO Amitava Chatterjee said that despite tough situation on the ground due to the Pahalgam terror attack along with its aftermath that affected business activity and credit offtake in key geographies well into June, 'we have been able to deliver a healthy bottom line growth of around 17 per cent'. 'The sudden decline in NIM should be viewed against the broader environment wherein repo rate cuts announced by the regulator impacted the margins,' he said. The profitability in Q1 is subdued on account of impairment provision of Rs 87 crore made in this quarter towards our investment in the RRB – Jammu and Kashmir Grameen Bank, necessitated by amalgamation of Ellaquai Dehati Bank with erstwhile J&K Grameen Bank w.e.f. April 30, 2025, the MD said. Excluding this non-recurring impact, our profitability growth would be upwards of 30 per cent YoY. This one-time provision has also impacted our ROA and ROE, however on a normalised basis both metrics remain broadly in line with our expectation, he added. Chatterjee further said that the bank remains fundamentally strong, with adequate capital and liquidity buffers, and is already seeing signs of accelerating credit off-take on ground. 'With improving conditions on the ground, we are sure to gain growth momentum in the coming quarters,' the MD and CEO asserted. About business growth, he said the bank's deposits rose 12 per cent to Rs 14,8542 crore from Rs 13,2574 crore recorded in Q1 of the last fiscal, while the net advances grew 6.06 per cent to Rs 1,01,230 crore as against Rs 95,450 crore. The bank's CASA (current account-savings account) ratio stood at 45.71 per cent as on June 30, 2025. 'Regarding business growth, we are confident in our long term strategy as we are actively diversifying and scaling up our rest of India operations by opening more branches in strategic business centres, entering builder tie-ups, and strengthening partnerships with DSAs,' the MD and CEO said. 'Going forward, our focus will also remain on deepening relationships in core geographies through sufficient lending to agriculture, industry and youth entrepreneurship; and investing further in digital capabilities and operational efficiency,' he added. Chatterjee said the Gross Non-Performing Assets (GNPA) of the bank reduced by 41 basis points to 3.50 per cent (from 3.91 per cent a year ago), while Net NPA stood at 0.82 per cent. The bank's NPA Coverage Ratio remained strong at above 90 per cent. On the asset quality, the MD and CEO said as per the annual guidance, the bank plans to bring it to around 3 per cent by the end of the current financial year through prudent lending, robust recovery mechanisms, and proactive monitoring using early warning systems and digital tools like its NPA tracker. The Bank's Capital Adequacy Ratio (CAR) stood at 15.98 per cent, providing a comfortable buffer for future growth, he said. 'With CAR almost 16 per cent, we remain well capitalised and have an enabling board approval for raising further capital to fund our growth plans and seize emerging opportunities across our business segments,' Chatterjee said. PTI SSB HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Business Standard
26-07-2025
- Business
- Business Standard
J&K Bank Q1 PAT climbs 17% YoY to Rs 485 cr
Jammu & Kashmir (J&K) Bank reported a 16.69% jump in standalone net profit to Rs 484.84 crore on 10.35% increase in total income to Rs 3,518.57 crore in Q1 FY26 over Q1 FY25. Profit before tax (PBT) rose 7.45% YoY to Rs 657.75 crore in Q1 June 2025. Net interest income (NII) grew 7% to Rs 1,465.43 crore in Q1 FY26 compared with Rs 1369.22 crore in Q1 FY25. Net Interest Margin (NIM) declined to 3.72% in Q1 FY26 as against 3.86% recorded in Q1 FY25. Total deposits increased 12.05% to Rs 1,48,542 crore as of 30th June 2025 compared with Rs 1,32,573 crore as of 30th June 2024. Net Advances grew 6.06% YoY to Rs 1,01,230.11 crore as of 30th June 2025 as against Rs 95,449.77 crore as of 30th June 2024. CASA ratio declined to 45.71% in Q1 FY26 compared with 49.77% in Q1 FY25. The gross non-performing asset (GNPA) fell 5.69% YoY to Rs 3,638.19 crore as on 30th June 2025, compared with Rs 3,857.59 crore as on 30th June 2024. Gross NPA ratio reduced to 3.50% in Q1 FY26 from 3.91% in Q1 FY25. The net NPA ratio stood at 0.82% as of 30th June 2025, as against Rs 0.78% as of 30th June 2024. The banks capital adequacy ratio (CAR) stood at 15.98% in June'25. CET-1 at 12.69%, Tier- I stood at 13.68%. MD & CEO, Amitava Chatterjee, said, "Despite tough situation on ground due to the Pahalgam terror attack along with its aftermath that affected business activity and credit offtake in key geographies well into June; we have been able to deliver a healthy bottom line growth of around 17%. The sudden decline in NIM should be viewed against the broader environment wherein repo rate cuts announced by the regulator impacted the margins. Pertinently, the profitability for Q1 is subdued on account of impairment provision of Rs 87 crore made in this quarter towards our investment in the RRB - Jammu and Kashmir Grameen Bank, necessitated by amalgamation of Ellaquai Dehati Bank with erstwhile J&K Grameen Bank w.e.f. 30th April 2025. Excluding this non-recurring impact, our profitability growth would be upwards of 30% YoY. This one time provision has also impacted our ROA and ROE, however on a normalised basis both metrics remain broadly in line with our expectation. On the asset quality front, as per our annual guidance, we plan to bring it to around 3% by the end of CFY through prudent lending, robust recovery mechanisms, and proactive monitoring using early warning systems and digital tools like our NPA tracker. With CAR almost 16%, we remain well capitalized and have an enabling board approval for raising further capital to fund our growth plans and seize emerging opportunities across our business segments. J&K Bank offers banking services under the three major divisions of support services, depository services, and third-party services. The scrip declined 2.01% to end at Rs 109.45 on the BSE.
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Business Standard
25-07-2025
- Business
- Business Standard
J&K Bank Q1 FY26 results: Net profit increases 17% to Rs 485 crore
Jammu and Kashmir Bank on Friday posted a 16.7 per cent increase in net profit at Rs 484.84 crore in the April-June quarter of FY26. The bank had reported a profit after tax (PAT) or net profit of Rs 415.49 crore in the same period of the previous fiscal year, J&K Bank said in a statement. Net Interest Income (NII) during the reporting quarter grew 7 per cent year-on-year to Rs 1,465.43 crore, while the other income jumped 29 per cent to Rs 250.30 crore from Rs 194.10 crore recorded last year. Return on Assets (RoA) in the quarter improved to 1.17 per cent from 1.08 per cent a year ago, while Net Interest Margin (NIM) stood at 3.72 per cent as against 3.86 per cent recorded in Q4FY25. Bank's cost-to-income ratio also improved to 60.78 per cent YoY, it said. Operating profit witnessed a 13 per cent increase to Rs 672.84 crore from Rs 594.67 crore recorded in the corresponding period last year, the bank said. The bank's MD and CEO Amitava Chatterjee said that despite tough situation on the ground due to the Pahalgam terror attack along with its aftermath that affected business activity and credit offtake in key geographies well into June, "we have been able to deliver a healthy bottom line growth of around 17 per cent". "The sudden decline in NIM should be viewed against the broader environment wherein repo rate cuts announced by the regulator impacted the margins," he said. The profitability in Q1 is subdued on account of impairment provision of Rs 87 crore made in this quarter towards our investment in the RRB - Jammu and Kashmir Grameen Bank, necessitated by amalgamation of Ellaquai Dehati Bank with erstwhile J&K Grameen Bank w.e.f. April 30, 2025, the MD said. Excluding this non-recurring impact, our profitability growth would be upwards of 30 per cent YoY. This one-time provision has also impacted our ROA and ROE, however on a normalised basis both metrics remain broadly in line with our expectation, he added. Chatterjee further said that the bank remains fundamentally strong, with adequate capital and liquidity buffers, and is already seeing signs of accelerating credit off-take on ground. "With improving conditions on the ground, we are sure to gain growth momentum in the coming quarters," the MD and CEO asserted. About business growth, he said the bank's deposits rose 12 per cent to Rs 14,8542 crore from Rs 13,2574 crore recorded in Q1 of the last fiscal, while the net advances grew 6.06 per cent to Rs 1,01,230 crore as against Rs 95,450 crore. The bank's CASA (current account-savings account) ratio stood at 45.71 per cent as on June 30, 2025. "Regarding business growth, we are confident in our long term strategy as we are actively diversifying and scaling up our rest of India operations by opening more branches in strategic business centres, entering builder tie-ups, and strengthening partnerships with DSAs," the MD and CEO said. "Going forward, our focus will also remain on deepening relationships in core geographies through sufficient lending to agriculture, industry and youth entrepreneurship; and investing further in digital capabilities and operational efficiency," he added. Chatterjee said the Gross Non-Performing Assets (GNPA) of the bank reduced by 41 basis points to 3.50 per cent (from 3.91 per cent a year ago), while Net NPA stood at 0.82 per cent. The bank's NPA Coverage Ratio remained strong at above 90 per cent. On the asset quality, the MD and CEO said as per the annual guidance, the bank plans to bring it to around 3 per cent by the end of the current financial year through prudent lending, robust recovery mechanisms, and proactive monitoring using early warning systems and digital tools like its NPA tracker. The Bank's Capital Adequacy Ratio (CAR) stood at 15.98 per cent, providing a comfortable buffer for future growth, he said. "With CAR almost 16 per cent, we remain well capitalised and have an enabling board approval for raising further capital to fund our growth plans and seize emerging opportunities across our business segments," Chatterjee said.
