JKB Financial Services (JKBFSL), a wholly owned subsidiary of J&K Bank and IDBI Asset Management (IDBI AMC), a subsidiary of IDBI Bank, organized a joint maiden Investor Awareness Program, at Srinagar on November 23, 2013. JKBFSL has a distribution tie up with IDBI AMC. Over 200 persons attended the programme. This is a part of the Investor Education initiative undertaken by the Securities & Exchange Board of India (SEBI) and being carried out through the Asset management Companies. The programme introduced and highlighted the concept of Financial Planning to meet the evolving Life Cycle Financial needs of investors and the Role of Mutual Funds in facilitating the same.
Jammu & Kashmir Bank has reported a rise of 12.29% in its net profit at Rs 302.66 crore for the quarter ended September 30, 2013 as compared to Rs 269.53 crore for the same quarter in the previous year. However, total income of the bank increased by 9.91% at Rs 1749.22 crore for quarter under review as compared to Rs 1591.51 crore for the quarter ended September 30, 2012.
