J&K Bank’s annual net soars 48% to reach its highest ever profit of Rs 1767 Cr
By announcing the highest dividend payment, the Bank has decided to share these historic profits with its valuable shareholders.

In yet another record-breaking performance, J&K Bank has posted a net profit of Rs1767 Cr for the fiscal 2023-24 – a remarkable improvement of 48% over the previous high of Rs. 1197 Crore achieved last year.
The Bank declared its annual and Q4 results after its Board of Directors approved the numbers in a meeting held here at the Bank’s Corporate Headquarters. On the occasion, the Board of Directors of the Bank also recommended a handsome final dividend of Rs. 2.15 per share of Face Value Re 1.00 for its shareholders.
The Bank’s net profit for the Q4FY23-24 also rose by 34% to Rs 638.67 Cr when compared to Rs 476.33 Cr recorded last financial year. This also is a historic high for quarterly profits. Performance Highlights: Beating its previous highest-ever profit of Rs. 1197 Crore achieved only last year, the Bank’s net profit surged by 48% to record a new high of Rs 1767 Cr. In line with its promise of meeting annual guidance, the Bank’s notable metrics include 3.92% net interest margin (NIM), over 15% capital adequacy ratio (CAR), around 4% gross NPA, and below 1% net NPA – a reflection of strong operating results reinforcing further financial soundness and resilience to the balance-sheet.
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The bank's total revenue has increased by 19% to exceed the Rs 12000 crore mark. The net interest margin (NIM) stands at 3.92%. The bank's yield on advances has risen annually to 9.54% from 8.91%, and the return on assets (ROA) has reached a healthy level of 1.22%. This is a significant milestone as the bank has crossed the 1% barrier after a decade, compared to the 0.89% recorded in the last fiscal year.
J&K Bank's total deposits rose 10.44 % YoY to Rs 134774.89 Cr as of March 31, 2024, from Rs 122037.74 Cr recorded a year ago, while the Net Advances of the Bank stood at Rs 93762.51 Cr in Q4FY24 rising 14 % YoY from Rs 82285.45 Cr in Q4FY23.
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Strengthening its asset quality further, the Bank has brought down the Gross NPA (GNPA) to 4.08 %, while the net NPA is below 1 percent at 0.79%.
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