JAMMU:
J&K Bank, the state owned premier financial institution reported a profit of Rs. 21.87 crores for the Quarter ended in June 2019.
Total income during the first quarter of 2019-20 rose to Rs 2,256.25 crore from Rs 1,897.24 crore in the same period of 2018-19, the bank said in a release. On asset front, gross non-performing assets fell to 8.48 per cent of gross advances as on June 2019, as against 9.83 per cent by June end 2018.
Net NPAs also came down to Rs 4.36 per cent from 4.46 per cent a year ago. Gross NPA percent and net NPA percent has come down marginally to 8. 48 and 4.36 respectively. However, the provisioning for bad loans and contingencies moved up to Rs 293.21 crore in the June quarter from Rs 255.01 crore in the same quarter of previous fiscal. Capital Adequacy ratio has fallen to 11.76 percent. Provision coverage ratio as of June 30 th 2019, is at 66.61% after taking into account the floating provision of Rs. 348.72 crores held by the bank.
