Jammu & Kashmir Bank rose 2.51% to Rs 18.35 after the bank said its board will consider fund raising in the meeting scheduled on 28 August 2020.
In the proposed meeting on 28 August 2020, the board of directors of the J&K Bank will consider the raising Tier I/Tier II capital to the tune of Rs 4500 crore during the Financial Year 2020-2021. The announcement was made post trading hours yesterday, 25 August 2020.J&K Bank reported a net loss of Rs 294.10 crore in Q4 March 2020 compared with net profit of Rs 214.80 crore in Q4 March 2019. Total income in the fourth quarter fell 7.9% to Rs 2,277 crore from Rs 2,473.47 crore in the same period last year.
J&K Bank offers banking services under the three major divisions as support services, depository services and third-party services.
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