Jammu & Kashmir Bank

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The Jammu and Kashmir Bank limited
Native name
جموں و کشمیر بنک
Financial services
Founded1 October 1938
Key people
RK Chibber
(Interim Chairman)
ProductsConsumer banking, Corporate banking, Finance and Insurance, Mortgage loans, Private banking, Wealth management, Investment banking
RevenueDecrease7,178.66 crore (US$1.0 billion) (2017)[1]
Decrease 1,294.34 crore (US$190 million) (2017)[1]
Decrease -1,632.29 crore (US$−240 million) (2017)[1]
Total assetsIncrease82,018.67 crore (US$12 billion) (2017)[1]
OwnerGovernment of Jammu and Kashmir (59%)
Number of employees
(10022) (2017)
Capital ratio10.80% [1]

www.jkbank.in www.jkbank.net


Jammu and Kashmir Bank (J&K Bank) is a J&K -based private sector banking and financial services company. It is a Private-owned bank with 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]

On November 22 2018, the Governor-led State Administrative Council (SAC) had approved the proposal for treating Jammu and Kashmir Bank Limited as a Public Sector Undertaking (PSU). The SAC also comprises the four state advisers and the J&K Chief Secretary.


In July 2019 it was announced that J&K Bank had agreed to become the Sponsor of Real Kashmir.The sponsorship deal with Nilkamal Limited happened for a sum of 80 million ( 8 Crore).


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, Abdul Aziz Mantoo, 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 year 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.


The bank celebrated its platinum jubilee in the year 2013. To make the year remarkable, the bank achieved a total business of Rs 1000 billion and earned a net profit of Rs 10 billion. On 1 April 2013 the bank surpassed the target of promised Rs 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 Rs 10 billion profit for the FY 2012–13. The bank posted net profit of Rs 10551 million and business turnover of Rs 1034 billion for the FY 2012–13. In its Platinum jubilee year, the banks board of directors recommended special dividend of 500% or Rs 50 per share for 2012–13.[8][9][10]


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.


The bank's corporate headquarters is in Srinagar near TRC (Tourist Reception Centre). The bank has a network of 935 computerized bank branches, 1287 ATMs and 25 Cash deposition Machines (CDM) across the country as on March 05, 2019. [11]


  1. ^ a b c d e "Balance Sheet 31.03.2017" jkbank.com (15 March 2018).
  2. ^ "The Jammu & Kashmir Bank Ltd". NDTV Profit.
  3. ^ About
  4. ^ JKB
  5. ^ Customer relationship management in j & k bank, p. 4,5
  6. ^ Jammu and Kashmir Bank achieves Rs one lakh crore business – Economic Times. Articles.economictimes.indiatimes.com (1 April 2013). Retrieved on 6 December 2013.
  7. ^ JK Bank vaults Rs1 lakh cr biz target Lastupdate:- Tue, 2 Apr 2013 18:30:00 GMT. Greaterkashmir.com (2 April 2013). Retrieved on 6 December 2013.
  8. ^ J&K Bank Q4 net profit up 20% at Rs 250cr. Moneycontrol.com. Retrieved on 6 December 2013.
  9. ^ 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.
  10. ^ J&K Bank posts 20.16% increase net profit; announces 500% dividend – Moneylife. Moneylife.in. Retrieved on 6 December 2013.
  11. ^ a b Strategy and Business Development Division , J K Bank

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