The total income during the period ended September 30, 1998, stood at Rs 351.44 crore, registering an increase of 35 per cent over the year-ago period's total income of Rs 259.30 crore. Total expenses during the period were at Rs 306.90 crore against Rs 233.95 crore for the six months ended September 30, 1997.

The deposits stood at Rs 5,286 crore as on September 30, 1998, against Rs 3,843 crore during the corresponding period in the previous year, indicating a growth of 38 per cent. The bank has set itself a deposits target of Rs 10,000 crore, to be realised by the turn of the century. Growing aware of the expectations of its customers, J&K Bank is refining its existing products & services and new products are being introduced with regard to the varied and emergingneeds of clients.

On the advances front, against a base of Rs 1,606 crore as on September 30, 1997, advances grew by 37 per cent to reach a level of Rs 2,194 crore during the first half of the current year. The bank has brought out special credit schemes for the benefit of its clientele, particularly under the personal segment of advances.

Despite the increase in the credit portfolio, the bank has managed to maintain asset quality. Non-performing assets (NPAs), which stood at 6.02 per cent as on March 31, 1997, were brought down to 4.57 per cent as on March 31, 1998. J&K Bank hopes to further reduce the NPA level to 4 per cent by the end of the current year.

J&K Bank's investments stood at Rs 2,814 crore as on September 30, 1998, constituting 53 per cent of the total deposits. The bank has fully and partially computerised 78 of its branches as on September 30, 1998, against 52 branches as on September 30, 1997. By year 2000, J&K Bank hopes to computerise 70 per cent of its branches.