Jammu & Kashmir Bank: Difference between revisions
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==External links== |
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* [http://www.jkbank.com/ Official website] |
* [http://www.jkbank.com/ Official website] |
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* [https://mybankifsc.in/branches.php?bank_name=JAMMU-AND-KASHMIR-BANK-LIMITED&bank_id=c7e1249ffc03eb9ded908c236bd1996d/ Jammu and Kashmir Bank IFSC, MICR, Contact Number, Address] |
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{{Banking in India}} |
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Revision as of 09:44, 19 July 2020
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| J&KBANK | |
Native name | جموں و کشمیر بنک |
| Company type | Public |
| NSE: J&KBANK BSE: 532209 | |
| Industry | Banking Financial services |
| Founded | 1 October 1938 |
| Headquarters | Srinagar, Jammu and Kashmir, India |
Key people | RK Chibber (chairman) Zubair Iqbal (managing director) |
| Products | Consumer banking, corporate banking, finance and insurance, mortgage loans, private banking, wealth management, investment banking |
| Revenue |  ₹7,178.66 crore (US$860 million) (2017)[1] |
| ₹1,294.34 crore (US$160 million) (2017)[1] | |
| ₹−1,632.29 crore (US$−200 million) (2017)[1] | |
| Total assets |  ₹82,018.67 crore (US$9.8 billion) (2017)[1] |
| Owner | Government of Jammu and Kashmir (68.18%) |
Number of employees | (12603) (2019) |
| Capital ratio | 10.80% [1] |
| Website | www |
Jammu and Kashmir Bank (J&K Bank) is a J&K - based private sector banking and financial services company. It is a privately owned bank with majority owned state share with its headquarters in Srinagar, Jammu and Kashmir, India. J&K Bank, incorporated on October 1, 1938, was the first bank in the country to emerge as a state–owned bank.[2]
History
The Jammu and Kashmir Bank was founded on 1 October 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, Maharaja Hari Singh. The Maharaja had invited eminent investors to become the founding directors and shareholders of the bank. The most notable of which were Pandit Sriniwas Magotra, Pesten jee and the Bhaghat Family, all of whom acquired major shareholdings.[3][4]
The bank commenced the banking business on 4 July 1939 and was considered the first of its nature and composition as a state-owned bank in the country. The bank was established as a semi-state bank with participation in capital by state and the public under the control of state government. In 1971, the bank had acquired the status of a scheduled bank and was declared as an "A" Class bank by the Reserve Bank of India in 1976.
The bank had to face serious problems at the time of independence when out of its total of ten branches two branches of Muzaffarabad, Rawalakot and Mirpur fell to the other side of the line of control (now Pakistan administered Kashmir) along with cash and other assets.[5] Following the extension of Central laws to the state of Jammu & Kashmir, the bank was defined as a government company as per the provisions of Indian companies act 1956.
Income
The bank celebrated its platinum jubilee in the year 2013. To make the year remarkable, the bank achieved a total business of ₹ 1000 billion and earned a net profit of ₹ 10 billion. On 1 April 2013 the bank surpassed the target of promised ₹ 1000 billion business and is confident of meeting its other annual targets as well in its platinum jubilee year.[6][7]
On 15 May 2013, bank announced that it has achieved the target of promised ₹ 10 billion profit for the FY 2012–13. The bank posted net profit of ₹ 10551 million and business turnover of ₹ 1034 billion for the FY 2012–13. In its platinum jubilee year, the banks board of directors recommended special dividend of 500% or ₹ 50 per share for 2012–13.[8][9][10]
Profile
Government banking company incorporated and registered under the J&K Companies Regulations No. XI of 1977 (Samvat) and Old Private Sector Bank under RBI Guidelines[11] J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country. It was also the only private sector bank designated as RBI's agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT.It has a strong State Government support in terms of capital infusion as needed from time to time.
Network
The bank's corporate headquarters is in Srinagar near TRC (Tourist Reception Centre). The bank has a network of 1038 computerized bank branches out of which 877 branches are located in the Union Territory of Jammu and Kashmir and Union Territory of Ladakh (previously state of Jammu and Kashmir). The bank has network of 1340 ATMs and cash deposition machines (CDM) across the country as on March 21, 2020.[11]
See also
- Banking in India
- List of banks in India
- Reserve Bank of India
- Indian Financial System Code
- List of largest banks
- List of companies of India
- Make in India
References
- ^ a b c d e "Balance Sheet 31.03.2017" jkbank.com (15 March 2018).
- ^ "The Jammu & Kashmir Bank Ltd". NDTV Profit.
- ^ About
- ^ JKB
- ^ Customer relationship management in j & k bank, p. 4,5
{{citation}}: Cite has empty unknown parameter:|1=(help) - ^ Jammu and Kashmir Bank achieves ₹ one lakh crore business – Economic Times. Articles.economictimes.indiatimes.com (1 April 2013). Retrieved on 6 December 2013.
- ^ JK Bank vaults ₹1 lakh cr biz target Lastupdate:- Tue, 2 Apr 2013 18:30:00 GMT. Greaterkashmir.com (2 April 2013). Retrieved on 6 December 2013.
- ^ J&K Bank Q4 net profit up 20% at Rs 250cr. Moneycontrol.com. Retrieved on 6 December 2013.
- ^ JK Bank crosses Rs 1000 crore profit mark Lastupdate:- Thu, 16 May 2013 18:30:00 GMT. Greaterkashmir.com (16 May 2013). Retrieved on 6 December 2013.
- ^ J&K Bank posts 20.16% increase net profit; announces 500% dividend – Moneylife. Moneylife.in. Retrieved on 6 December 2013.
- ^ a b Strategy and Business Development Division, J K Bank
