SRINAGAR: Jammu and Kashmir Bank on Wednesday reported a 10.6% year-on-year increase in net profit to Rs 546.36 crore for the quarter ended September 30, 2026, compared with Rs 494.11 crore in the corresponding quarter last year.
The profit rose 28.8% from Rs 424.18 crore recorded in the April-June quarter of the current financial year. The bank’s board of directors approved the quarterly and half-yearly financial results at a meeting held at its corporate headquarters.
The bank’s total business grew 19.38% year-on-year to Rs 3.10 lakh crore as of September 30, driven by growth in advances and deposits.
Gross advances increased 23.72% to Rs 1,33,551 crore from Rs 1,07,943 crore a year earlier, while total deposits rose 16.30% to Rs 1,76,796 crore.
Net interest income (NII) increased 5% year-on-year to Rs 1,502 crore during the quarter. Other income more than doubled to Rs 314.90 crore from Rs 153.76 crore in the corresponding quarter last year, while rising 47% sequentially.
The bank’s cost-to-income ratio improved to 56.57% from 60.79% a year earlier. Return on assets rose to 1.07%, an increase of 20 basis points over the preceding quarter.
Operating profit for the first half of the financial year increased by more than 15% year-on-year to Rs 1,492 crore, while operating expenditure grew 1.5% during the period.
Asset quality also improved, with the gross non-performing assets (GNPA) ratio declining to 2.23% as of September 30, down 109 basis points from a year earlier and 14 basis points from the previous quarter. The net NPA ratio fell to 0.51% from 0.76% a year ago.
The provision coverage ratio improved to 91.76% from 90.53% at the end of June, which the bank described as its best level in a decade.
Managing Director and Chief Executive Officer Amitava Chatterjee attributed the improvement in asset quality to disciplined lending and credit monitoring. He said the bank would focus on sustaining core income growth, improving recoveries and strengthening deposit relationships during the second half of the financial year.
Current account and savings account deposits increased 1.73% sequentially, with the CASA ratio standing at 41.97% at the end of September.
The bank’s capital adequacy ratio stood at 16.57%, compared with 15.27% a year earlier.
Chatterjee said the bank’s business expansion supported its Vision 2030 target of reaching Rs 5 lakh crore in total business. He said strengthening deposits, deepening customer relationships in Jammu and Kashmir and Ladakh, and selectively expanding operations elsewhere in the country would remain key priorities.
