- News>
- Finance & Markets
J&K bank declares 60 pc dividend
New Delhi, Jun 02: Posting a 30 per cent rise in net profit at Rs 338 crore for 2002-03, Jammu and Kashmir Bank today declared 60 per cent dividend for its shareholders.
New Delhi, Jun 02: Posting a 30 per cent rise in net profit at Rs 338 crore for 2002-03, Jammu and Kashmir Bank today declared 60 per cent dividend for its shareholders.
The payment for the dividend would be subject to the approval of the Reserve Bank of India, a release from the bank said.
Total income of the bank rose by over six per cent to Rs 1714.56 crore in 2002-03 as compared to Rs 1610.86 crore in the previous year.
Aggregate deposits grew by almost 14 per cent to Rs 14,674.9 crore as on March 31, 2003 as against Rs 12,911.11 crore in 2001-02.
The bank's capital adequacy ratio stood at 16.48 per cent in 2002-03, much higher than the RBI mandated 9.0 per cent and the capital and reserves grew by around 33 per cent to Rs 1242 crore in the last fiscal compared to Rs 937 crore in 2001-02.
With focus on recovery, the bank was able to contain the net non-performing assets to 1.58 per cent of net advances and is aiming at less than one per cent in this fiscal.
Bureau Report
Total income of the bank rose by over six per cent to Rs 1714.56 crore in 2002-03 as compared to Rs 1610.86 crore in the previous year.
Aggregate deposits grew by almost 14 per cent to Rs 14,674.9 crore as on March 31, 2003 as against Rs 12,911.11 crore in 2001-02.
The bank's capital adequacy ratio stood at 16.48 per cent in 2002-03, much higher than the RBI mandated 9.0 per cent and the capital and reserves grew by around 33 per cent to Rs 1242 crore in the last fiscal compared to Rs 937 crore in 2001-02.
With focus on recovery, the bank was able to contain the net non-performing assets to 1.58 per cent of net advances and is aiming at less than one per cent in this fiscal.
Bureau Report