Srinagar- While maintaining higher provisioning requirements owing to regulatory compliance, J&K Bank posted a net profit of Rs 494.11 Cr for the July-September Quarter (Q2) of current financial year (CFY), remaining well on course to meet its annual market guidance. The Bank’s net profit for half-year (H1) witnessed an increase to Rs 978.95 Cr from Rs 966.41 Cr recorded for H1 last FY.

The Bank announced financial numbers after its Board-of-Directors reviewed and approved the quarterly and half-yearly figures during a meeting held at the Bank’s Corporate Headquarters.

Key Highlights

Moderated by the provisioning of Rs 92 Cr towards its investment in the Regional Rural Bank — Jammu and Kashmir Grameen Bank — following the amalgamation of Ellaquai Dehati Bank with the erstwhile J&K Gram

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