Srinagar: Based on its half yearly net, Jammu and Kashmir Bank (JKB) has projected a net profit of Rs 1,000 crore from a Rs 1,00,000 crore business in 2012-13.
The Bank earned a net pr
ofit of Rs 515.62 crore in the first six months ended September 2012, bank’s chairman and Chief Executive Officer Mushtaq Ahmad said, adding this was up 35 per cent on Rs 381.94 crore profit in the corresponding period of 2011-2012.
The Bank’s July-September quarter’s profit of Rs 269.53 crore was also up by 35 per cent on Rs 199.65 crore earned in the second quarter of the last financial year.
Bank’s income from interest grew by 34.60 per cent to Rs 2,976.75 crore while it increased its coverage of non-profit assets (NPAs) to 93.30 per cent in the first half of current fiscal from 92 per cent recorded during the corresponding period last fiscal.
