From NPAs to revival, J&K Bank new chief has his task cut out

J&K bank's new chairman, Parvez Ahmed, said there was no substantial impact of the Kashmir unrest on the bank's operations

Undeterred by the Kashmir turmoil, Rs 4,300 crore of non-performing assets and a big fall in profitability, J&K Bank’s new Chairman and CEO Parvez Ahmed has set out to clean things up and is hopeful of a turnaround in fortune soon.

“I don’t see any concern. It is a challenge for me. We will manage the situation (due to the huge fall in profit and NPAs),” Ahmed told reporters here.

Ahmed, who took charge last week, added, “We have a dedicated and competent workforce (including) senior employees. With their morale up, we will improve the present state of the bank.”

Ahmed is the first in-service and second in-house chairman and CEO of the bank.

Asserting that there was no substantial impact of the Kashmir unrest on J&K Bank’s business operations, he said loan accounts affected by the unrest are being restructured.