Tag: nets

Jk Bank Nets Rs 1197 Cr Profit, Highest In Eight Years

[ad_1]
SRINAGAR: Adding a historic milestone to its remarkable journey, JK Bank recorded Rs 1197 Cr as net profit for the FY 2022-23 as the Bank’s highest-ever annual profit. Along with a decadal-high Capital Adequacy Ratio (CRAR) of 15.39% and eight-year best gross NPA figure at 6.04%, the Bank also registered its best-ever Q4 profit of Rs 476 Cr to successfully deliver its better-than-promised annual and quarterly performance.
The bank declared its annual and Q4 results today after its Board of Directors approved the numbers in a meeting held here at the bank’s Corporate Headquarters.
Performance Highlights
Aided by good recoveries, J&K Bank today delivered its best-ever net profit of Rs 1197 Cr for the FY 2022-23 and registered Rs 476 Cr as net profit for the January-March quarter of the FY 2022-23.
With Net Interest Margin (NIM) for the FY 2022-23 at 3.89 % against 3.50% recorded last year, the Bank’s operating income increased by 18% YoY to Rs 5502 Cr while as the other Net Interest Income (NII) grew 21% YoY to Rs 4745 Cr.
Bank’s Yield on Advances rose annually to 8.91% from 8.32%, while as the CD and CASA ratios stood at 67.43% and 54.10% respectively for the reviewed financial year.
Asset-Quality
The Bank’s gross and net NPA as percentages to gross and net advances improved considerably to 6.04% and 1.62% respectively when compared to 8.67 % and 2.49%, recorded last year.

The Bank’s Return on Assets jumped from 0.42% to 0.89% for the FY 2022-23, while as the NPA Coverage Ratio of the Bank improved to 86.20% against 84.26% recorded a year ago.
Capital-Cushion
After raising over Rs 1021 Cr as (tier-II) capital and significant internal accruals during the FY 2022-23, the Bank’s Capital Adequacy Ratio witnessed marked improvement of 216 bps to 15.39% from 13.23% recorded last year; thereby ensuring adequate availability of capital to support business growth while maintaining the regulatory buffer comfortably.
Business Growth
With advances growth outpacing the increase in deposits, the Bank’s advances grew by 17% to Rs 82285 Cr while as the deposits increased by around 6% to Rs 122038 Cr posting growth of 10% in the overall business of the Bank.
MD&CEO-Speak
Commenting upon the annual numbers, MD & CEO Baldev Prakash said, “With historic yearly profit, highest-ever quarterly net, decadal high CRAR, best asset-quality figures over last 8 years; it’s a great feeling to deliver better-than-promised annual numbers. I feel completely satisfied to see that we have gotten better at operating our business efficiently.”
“Looking back to March 2022 with these set of numbers, I see an unmistakable shift in performance as well as the functioning of Bank. Right from financials, operations and business to compliance and vastly improved corporate governance, the leap from turn-around to transformation is quite perceptible as well as promising”, he added.
Attributing the accomplishment to Bank staff, MD & CEO said, “I am happy to dedicate this historic and resounding success to the entire J&K Bank family that once again rose to the occasion and honoured the trust of all our stakeholders including customers by achieving most of the targets while improving upon the everyday functioning of the Bank”, adding, “I also express my profound gratitude to our patrons and promoters i.e. J&K Government and Ladakh Administration for their support and guidance throughout this journey.”
Regarding the marked improvement in CAR and GNPAs, MD stated, “Keeping thrust on strengthening the Balance Sheet by way of capital augmentation and NPA reduction, we have achieved Asset Quality figures that are the best in last eight years along with a decadal high CRAR.”
“Post-revamp of business strategy to reduce concentration risk, our loan book in ROI has already grown by above 20% during FY 2022-23 consequently improving the contribution of ROI loan book to 32% of total advances of the Bank”, said the MD on Bank’s sharpening focus on business in rest of the country.
He further said, “While making our balance-sheet stronger on daily basis, we have now entered into a progressive-phase wherein business-growth coupled with process excellence is all set to yield better returns for all stakeholders of the Bank. To ensure ease of banking for our clients, we have already enabled around 4 Lac customers on STP Platform for retail-loan processing with a turn-around-time of just 2-minutes, which has helped in reducing the footfall at branches drastically”, while adding, “With many cutting-edge technological solutions like Customer Relationship Management, WhatsApp banking, Cloud Application along with Artificial Intelligence & Machine Learning based Analytics at advanced stages of completion, I see J&K Bank well on its path to become one of the most agile, efficient and digitally smarter banks in the country soon.”

[ad_2]
#Bank #Nets #Profit #Highest #Years
( With inputs from : kashmirlife.net )

May 5, 2023
Jk Bank Nets Best Ever Profit Of Rs 1197 Cr, Records Good Recoveries

[ad_1]
SRINAGAR: Adding a historic milestone to its remarkable journey, JK Bank recorded Rs 1197 Cr as net profit for the FY 2022-23 as the Bank’s highest-ever annual profit. Along with a decadal-high Capital Adequacy Ratio (CRAR) of 15.39% and eight-year best gross NPA figure at 6.04%, the Bank also registered its best-ever Q4 profit of Rs 476 Cr to successfully deliver its better-than-promised annual and quarterly performance.
The bank declared its annual and Q4 results today after its Board of Directors approved the numbers in a meeting held here at the bank’s Corporate Headquarters.
Performance Highlights
Aided by good recoveries, J&K Bank today delivered its best-ever net profit of Rs 1197 Cr for the FY 2022-23 and registered Rs 476 Cr as net profit for the January-March quarter of the FY 2022-23.
With Net Interest Margin (NIM) for the FY 2022-23 at 3.89 % against 3.50% recorded last year, the Bank’s operating income increased by 18% YoY to Rs 5502 Cr while as the other Net Interest Income (NII) grew 21% YoY to Rs 4745 Cr.
Bank’s Yield on Advances rose annually to 8.91% from 8.32%, while as the CD and CASA ratios stood at 67.43% and 54.10% respectively for the reviewed financial year.
Asset-Quality
The Bank’s gross and net NPA as percentages to gross and net advances improved considerably to 6.04% and 1.62% respectively when compared to 8.67 % and 2.49%, recorded last year.

The Bank’s Return on Assets jumped from 0.42% to 0.89% for the FY 2022-23, while as the NPA Coverage Ratio of the Bank improved to 86.20% against 84.26% recorded a year ago.
Capital-Cushion
After raising over Rs 1021 Cr as (tier-II) capital and significant internal accruals during the FY 2022-23, the Bank’s Capital Adequacy Ratio witnessed marked improvement of 216 bps to 15.39% from 13.23% recorded last year; thereby ensuring adequate availability of capital to support business growth while maintaining the regulatory buffer comfortably.
Business Growth
With advances growth outpacing the increase in deposits, the Bank’s advances grew by 17% to Rs 82285 Cr while as the deposits increased by around 6% to Rs 122038 Cr posting growth of 10% in the overall business of the Bank.
MD&CEO-Speak
Commenting upon the annual numbers, MD & CEO Baldev Prakash said, “With historic yearly profit, highest-ever quarterly net, decadal high CRAR, best asset-quality figures over last 8 years; it’s a great feeling to deliver better-than-promised annual numbers. I feel completely satisfied to see that we have gotten better at operating our business efficiently.”
“Looking back to March 2022 with these set of numbers, I see an unmistakable shift in performance as well as the functioning of Bank. Right from financials, operations and business to compliance and vastly improved corporate governance, the leap from turn-around to transformation is quite perceptible as well as promising”, he added.
Attributing the accomplishment to Bank staff, MD & CEO said, “I am happy to dedicate this historic and resounding success to the entire J&K Bank family that once again rose to the occasion and honoured the trust of all our stakeholders including customers by achieving most of the targets while improving upon the everyday functioning of the Bank”, adding, “I also express my profound gratitude to our patrons and promoters i.e. J&K Government and Ladakh Administration for their support and guidance throughout this journey.”
Regarding the marked improvement in CAR and GNPAs, MD stated, “Keeping thrust on strengthening the Balance Sheet by way of capital augmentation and NPA reduction, we have achieved Asset Quality figures that are the best in last eight years along with a decadal high CRAR.”
“Post-revamp of business strategy to reduce concentration risk, our loan book in ROI has already grown by above 20% during FY 2022-23 consequently improving the contribution of ROI loan book to 32% of total advances of the Bank”, said the MD on Bank’s sharpening focus on business in rest of the country.
He further said, “While making our balance-sheet stronger on daily basis, we have now entered into a progressive-phase wherein business-growth coupled with process excellence is all set to yield better returns for all stakeholders of the Bank. To ensure ease of banking for our clients, we have already enabled around 4 Lac customers on STP Platform for retail-loan processing with a turn-around-time of just 2-minutes, which has helped in reducing the footfall at branches drastically”, while adding, “With many cutting-edge technological solutions like Customer Relationship Management, WhatsApp banking, Cloud Application along with Artificial Intelligence & Machine Learning based Analytics at advanced stages of completion, I see J&K Bank well on its path to become one of the most agile, efficient and digitally smarter banks in the country soon.”

[ad_2]
#Bank #Nets #Profit #Records #Good #Recoveries
( With inputs from : kashmirlife.net )

May 5, 2023
Day after rout, Indian players back in nets; Shami set to play in Ahmedabad

[ad_1]
New Delhi: A day after an embarrassing nine-wicket rout at the hands of Australia, some of India’s Test squad members were back at the Holkar Stadium for a gruelling 90-minute net session.
With head coach Rahul Dravid and batting coach Vikram Rathour for company, opener Shubman Gill, middle-order batter Shreyas Iyer, all-rounders Ravichandran Ashwin, Ravindra Jadeja, and left-arm wrist spinner Kuldeep Yadav sweated it out in two nets adjacent to the match strip.
The third Test, played on an extremely turning pitch with variable bounce, ended in just over two days.
While Kuldeep had a long bowl at the nets, the other four enjoyed extended batting sessions against local net bowlers and also faced throwdowns.
There were no experimental or innovative shot selections but plain and simple copybook batting as they looked to get some form back before the fourth and final Test, starting in Ahmedabad from March 9.
Shami set to be back in playing XI
India’s senior-most speedster Mohammed Shami is expected to feature in the playing XI for the final Test after being rested as part of workload management during the Indore game.
The Indian team management, in consultation with its medical staff, has decided to space out the pace bowlers, who are going to play the IPL and are in the ODI World Cup plans.

Hence Shami, who had played the first two Tests and is also a part of the ODI squad, was rested for the third game. In his place, Umesh Yadav was drafted in as the second pacer after Mohammed Siraj.
With Siraj bowling only 24 overs in the first three games for one wicket, Umesh, with his better show in Indore, and who is not part of the white ball set-up, stands a good chance to share the new ball with Shami in Ahmedabad.
Siraj is likely to feature in all three ODIs between March 17 to 22 and will probably get some time off during the final game at the Narendra Modi Stadium.
Shami, who has been the best pacer on view across both teams with seven scalps from 30 odd overs in the series, will be needed on a dry Motera surface that might be conducive for reverse swing.
India are currently leading the series 2-1 but need to win the last game, in order to nullify the result of Sri Lanka’s upcoming away series against New Zealand, and qualify for the World Test Championship final.
GCA curators haven’t received any directive from Team India
The pitch at Holkar Stadium has been rated by ICC match referee Chris Broad as “poor”, and the Gujarat Cricket Association (GCA) is unlikely to risk its reputation by preparing something that attracts the attention of the the game’s governing body for the wrong reason.
“We haven’t received any instructions from the Indian team management and our local curators are preparing a normal track as we have always done through the season,” a state association source told PTI on Saturday.
“In fact, last Ranji game over here in January, Railways scored 500 plus (508) batting first and Gujarat, although suffered innings defeat, scored 200 plus in both innings. It won’t be too different this time,” he said.
There are 96 hours still left for the Test match to begin and one doesn’t know what will happen once BCCI curators Taposh Chatterjee and Ashsh Bhowmick take over.
“Obviously, last few days the BCCI’s grounds and pitches committee instruct the local curator. But, certainly, from our end our endeavour is to produce a good Test match pitch,” the official said.
The last time two Test matches were held in Ahmedabad, they ended in just under two days.
“You have to factor in that the Day/Night Test and the one after that were the first ones held after the stadium was refurbished and you had no clue how the pitch will pan out,” he added.
Kohli visits Mahakaleshwar Temple with wife
With the third Test ending way before schedule, star batter Virat Kohli and wife Anushka Sharma on Saturday visited Shree Mahakaleshwar Temple in Ujjain to offer prayers.
While some of the players stayed back in Indore, a few, including skipper Rohit Sharma, returned to Mumbai and will join the team in Ahmedabad on March 6.
[ad_2]
#Day #rout #Indian #players #nets #Shami #set #play #Ahmedabad
( With inputs from www.siasat.com )

March 4, 2023