J&K Bank net profit up 66 pc at 84 cr

Jammu, Jan 22 (UNI) The largest non-nationalised Jammu and Kashmir Bank (JKB) Ltd today announced 65.65 per cent growth in net profit at Rs 83.89 crore for the third quarter of FY'07 ended December 31, 2006, against Rs 50.64 crore during corresponding period last year.

The annual income of the bank has also posted 12.14 per cent increase at Rs 500.96 crore for Q3, as compared to Rs 446.72 crore in the same period during last fiscal, J&K Bank Chief Managing Director Haseeb Drabu told reporters here.

The total deposits of the bank, as on December 31, 2006, stood at Rs 20,296 crore with advances being of the order of Rs 14,831.18 crore, thereby registering a 22 per cent growth, he said.

The net interest margin of the bank during Q3'07 was recorded up by 3.56 per cent, while as net NPAs decreased from Rs 136.29 crore to Rs 108.84 crore, the CMD added.

UNI