J&K Bank Q4 net up 32%

The bank proposed a dividend of Rs 15.50 per share or 155 per cent of the face value of Rs 10 per share. For the year ended March, the bank announced a net profit of Rs 360 crore, a 31.1 per cent growth over the 2006-07.

The company had a net profit of Rs 274 crore in FY07. Operating income stood at Rs 1,055.45 crore for the year ended March 2008 as against Rs 928 crore in 2006-07, a rise of 13.73 per cent.

 

Fee based income during the year increased by 53 per cent at Rs 245 crore against Rs 160 crore in the year ended March, 2007. Total business turnover increased to Rs 47,475 crore in 2007-08, an increase of 12 per cent over the previous financial year.

The loan book size stood at Rs 18,883 crore while deposit were Rs 28,593 crore. There has been significant accretion to the bank in its low cost deposits portfolio during this period, which has resulted in improving CASA ratio to 39.16 per cent as against 37.02 per cent of the previous fiscal, it said. The Capital Adequacy Ratio stands at 12.80 per cent at the end of March 31, 2008.