Jammu & Kashmir Bank has reported results for second quarter ended September 30, 2016.
The company has reported a net loss of Rs 602.40 crore for the quarter under review as compared to a net profit of Rs 195.62 crore for the same quarter in the previous year. Total income of the company decreased by 1.69% at Rs 1816.67 crore for the quarter under review as compared Rs 1847.84 crore for the corresponding quarter previous year.
Jammu & Kashmir Bank is the only state government owned bank in the country with the Government of J&K (GoJK) holding around 53% shareholding in the bank. J&K Bank holds a monopolistic position in the state of J&K constituting majority of the credit and deposits in the state.