JAMMU: Jammu and Kashmir Bank today presented Rs 85.34 crore dividends to the state government which is the major share holder of the bank.
Bank’s Chairman Mushtaq Ahmad, today presented two cheques worth over Rs 85.34 crore to Chief Minister Omar Abdullah as dividends to the state government, which holds about 53 per cent shares in the J&K Bank, official spokesman said here.
Minister for Finance, Abdul Rahim Rather, Economic Advisor to Government, Jaleel Ahmad Khan, Financial Commissioner Finance, Mohammad Iqbal Khandey, Principal Secretary to the Chief Minister, B B Vyas and senior officers of Jammu and Kashmir Bank were also present at the event.
Ahmad said the Bank is poised for attaining Rs 1,000 crore profit by the end of current fiscal and its business is likely to touch Rs 1 lakh crore in the same period.
He said the Bank posted a growth of 41.98 per cent since September 30, 2010 to September end 2012 in its deposits, while the growth in advances has been at 75.7 per cent during the same period.
He said that growth in CD ratio is expected to be 109.40 per cent by the end of current financial year when it stood at 63.96 per cent in 2010.
Ahmad said the number of branches of the bank has gone up from 529 in September, 2010 to 662 by the end of last fiscal.
The Bank has financed 1148 units established under Sher-i-Kashmir Employment Welfare Programme for Youth (SKEWPY) besides providing finances to 5767 artisans, he said.
He added that the Bank has opened 133 new branches and 269 ATMs since September 2010 and has a plan of opening more 100 new branches and 150 ATMs by the end of current financial year.
(PTI)
