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Jammu & Kashmir Bank conducted a concall on 27 July 2024 to discuss the financial results for the quarter ended June 2024 and prospects of the bank. Baldev Prakash, MD&CEO of the bank addressed the call:
Highlights:
The first quarter has usually been a lean period given the cyclic nature of the saving-investment cycle in the UT. In addition, this year there was some holding-back in the economic activity during the first quarter because of elections also. This has led to the de-growth in deposits over March 2024.
However, there is already good traction in the deposit accretion during Q2FY2025. The bank has been able to maintain CASA in close vicinity of 50%.
Credit growth was 2% qoq and 13% yoy end June 024. In the Loan book, growth in outside J&K laon portfolio has been a tad higher at 15.5% yoy against 9.6% in J&K and Ladakh
Personal finance has grown at 14.6%, while housing loans have grown by 18.1% over the year.
The loa...
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