J&K Bank plans to increase credit to over Rs 25,000 crore in next 3 years

Jammu & Kashmir Bank (J&K Bank) is reportedly planning to take steps for further improvements and increase credit levels from the current Rs 18,000 crore to over Rs 25,000 crore in next 3 years. Out of the total credit of Rs 27,000 crore of Jammu & Kashmir, J&K Bank alone has contributed Rs 18,000 crore, which is about 67% of the total.

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.