08 March 2024 – Jammu & Kashmir Bank has recorded a significant 13% year-on-year (YoY) increase in gross advances, reaching Rs 97,072.47 crore by the end of Q4 FY24, compared to Rs 86,155.64 crore in Q4 FY23. The bank’s total business expanded by 11.96% YoY to Rs 2,28,769.39 crore, with total deposits growing by 10.44% YoY to Rs 1,34,776.73 crore.
CASA Deposits and Ratio:
CASA deposits, a critical indicator of a bank’s financial health, reached Rs 68,072.94 crore in Q4 FY24, reflecting a 3.11% YoY increase. However, the CASA ratio decreased slightly to 50.51% from 54.10% in Q4 FY23.
In terms of financial performance, Jammu & Kashmir Bank reported a notable 35.13% YoY growth in standalone net profit, amounting to Rs 421.08 crore, fueled by a 14.18% rise in total income to Rs 3,063.30 crore during Q3 FY24 compared to Q3 FY23.
Market Response:
Despite the positive financial results, the bank’s stock witnessed a 2.27% decline, closing at Rs 135.85 on the BSE, indicating potential market dynamics influencing investor sentiment.
