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Kolkata, April 11: JAMMU & Kashmir Bank (J&K Bank) has announced a net profit of Rs 168.11 crore for the year to March 31, 2001, which is a 40 per cent improvement over its 1999-2000 profit of Rs 120.17 crore.

According to the bank’s unaudited results, its total income has grown 22 per cent to Rs 15,000 crore from Rs 13,210 crore in the previous financial year.According to a press statement issued by the bank’s management in Kolkata on Wednesday, its networth has risen 33 per cent to Rs 700.10 crore from Rs 528.16 crore and its deposit base has grown 18 per cent to Rs 11,156 crore from Rs 9,422 crore in the previous fiscal.

Net advances has increased 36 per cent to Rs 4,769 crore from Rs 3,518 crore and foreign exchange turnover grown 36.15 per cent to Rs 2,402 crore.J&K Bank opened 22 new branches during 2000-2001, raising the total number of branches to 426.