1. Jammu &Kashmir Bank Q4 net loss widens at Rs 554 cr

Jammu &Kashmir Bank Q4 net loss widens at Rs 554 cr

Jammu & Kashmir Bank today reported a significant jump in net loss to Rs 554.30 crore in the fourth quarter ended March 31, due to rise in bad loans.

By: | Updated: May 13, 2017 9:49 PM
Jammu, Kashmir, J&K Bank, Kashmir, Srinagar, Jammu Jammu & Kashmir Bank today reported a significant jump in net loss to Rs 554.30 crore in the fourth quarter ended March 31, due to rise in bad loans. (Image: The Indian Express)

Jammu & Kashmir Bank today reported a significant jump in net loss to Rs 554.30 crore in the fourth quarter ended March 31, due to rise in bad loans. The bank had posted a net loss of Rs 56.02 crore in the January-March quarter of 2015-16 fiscal.
Total income of the bank fell marginally to Rs 1,802.74 crore in the quarter under review as against Rs 1,805.33 crore in the year-ago period. The asset quality deteriorated further as gross non- performing assets rose to 11.20 per cent of gross advances during the quarter, from 8.3 per cent in the year-ago period. In absolute terms, gross NPAs were Rs 6,000 crore in the March quarter as against Rs 4,369 crore last year.

Provisioning for bad loans and contingencies rose to Rs 768.25 crore during the fourth quarter as against Rs 397.11 crore in the year-ago period. For full 2016-17 fiscal, the bank posted a net loss of Rs 1,632.29 crore as against a net profit of Rs 416.04 crore in the preceding fiscal. Total income declined to Rs 7,178.66 crore in the reported fiscal as against Rs 7,347.60 crore in 2015-16 fiscal.

  1. A
    Ananta
    May 14, 2017 at 1:17 am
    Jammu & Kashmir Bank Ltd., was one of the best private sector banks until recently. It is surprising that this bank has made colossal losses due to huge NPLs. It is pity that either public sector banks or private sector banks could manage well their NPL management and miserably failed in this regard. The bank has to strengthen its recovery teams and also legal department for timely actions. They have to explore all the opportunities / avenues to recover the NPLs and reduce it to less than 5 within this financial year.
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