J&K Grameen Bank earned a profit of 14.10 crore in FY 2017-18

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Shadow Correspondent
JAMMU, MAY 25:
Board meeting of JKGB was held on 24th May 2018, wherein Board of Directors of the Bank approved the audited financial results of the Bank for the Year ended 31st March, 2018. Commenting on the results and financial performance, Mr. R.K. Chhibber, Chairman JKGB said “FY 2017-18 has been a landmark year in J&K Grameen Bank’s growth history, with the Bank crossing significant milestone in size, outreach & granularity while continuing to deliver on satisfactory earnings.
The total business of the Bank as on 31.03.2018 is 4999.44 Crores.
The advances and deposits of the Bank as on 31.03.2018 are 1594.81 crores and 3404.63 crores respectively.
The bank has earned profit of 14.10 Crore in FY 2017-18.
Board of Directors of the Bank appreciated the tremendous efforts of the Bank to achieve the desirable results in such a short span.
Bank has remained well positioned to deliver on growth and earnings while preserving asset quality and continuing to invest in Digital and Technology Initiatives to promote Digital India. Priority Sector lending of the bank comprises 77.39% of the total advances portfolio against 75% target fixed by Reserve Bank of India.
Chairman JKGB placed on record his deep appreciation and sense of gratitude to Govt. of India, Govt. of J&K, J&K Bank, Reserve Bank of India, NABARD, Board of Directors, Statutory Auditors, Esteemed Customers and sections of employees of the Bank for the timely support and valuable guidance for all round development of the Bank.

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