BUSINESS

J&K Bank net up

NEW DELHI MAY 9. Jammu and Kashmir Bank has recorded a net profit of Rs. 260 crores during 2001-02 against Rs. 168 crores in the previous year, a jump of 55 per cent. The operating profits went up from Rs. 272.79 crores to Rs 461.24 crores.

The total income has increased to Rs. 1,610.86 crores from Rs. 1,157.28 crores and the total business went up by 21 per cent during the last fiscal. Non-performing assets have come down to 1.88 per cent during the year from 2.45 per cent in the preceding year.

The bank had achieved a total business turnover of Rs. 19,335 crores against Rs. 15,931 crores, registering an increase of 21.36 per cent. The capital and reserves have increased by Rs. 237 crores to Rs. 937 crores during the year, up from Rs. 700 crores in the preceding fiscal year.

The statutory and other reserves increased to Rs. 889 crores from Rs. 651.41 crores which include Rs. 60 crores as investment fluctuation reserve provided for during the year under review.

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