"The bank's total income during April-September 1999 rose by 26.2 per cent to Rs 443.63 crore from Rs. 351.44 crore in the same period last year," J&K Bank chariman MY Khan said in New Delhi on Thursday. The private sector bank mobilised Rs 6,721 crore deposits during the first half of 1999-2000. "This is a 27 per cent increase over the Rs 5,286 crore deposits mobilised by the bank in the same period last year. Meanwhile, the bank's advances rose by 39 per cent to Rs 3,050 crore from Rs. 2,194 crore in the corresponding period of last year," a J&K Bank release said.

"The business of the bank will surpass Rs 12,000 crore, while the net profit will surpass Rs 100 crore by the year end," Khan said. The bank has set a target of computerising 70 per cent of its branches and 90 per cent of operations by the year 2000. The bank has also launched an "anywhere banking" facility through VSAT. J&K was one of the first six banks in the country to achieve Y2K compliance, Khan added.