J&K Bank's Remarkable Growth: Net Profit Surges by 45%

J&K Bank reported a 45% increase in net profit, earning Rs 551 crore in the quarter ending September 2024 compared to Rs 381 crore in the same period last year. The bank's total income rose to Rs 3,420 crore, with asset quality improving and non-performing assets decreasing.

J&K Bank has announced a significant financial achievement with a 45% jump in its net profit, reaching Rs 551 crore in the quarter ending September 2024. This marks a substantial improvement from the Rs 381 crore reported in the previous year.

The total income of the bank also saw an upward trajectory, rising to Rs 3,420 crore compared to Rs 2,954 crore in the same quarter last year, according to a regulatory filing.

Additionally, the bank's asset quality showed notable enhancement, with gross non-performing assets falling to 3.95% from 5.26% a year earlier, while net NPAs declined to 0.85%. The Capital Adequacy Ratio climbed slightly to 14.99%.

(With inputs from agencies.)