SRINAGAR: Initiating the dividend payment for shareholders, J&K Bank Managing Director and CEO, Shri Amitava Chatterjee, today handed over two dividend cheques worth Rs 122.85 crore and Rs 7.92 crore to the UT Administration – the Bank’s promoter and major shareholder – for the Financial Year 2024-25. The cheques were presented to Lieutenant Governor Shri Manoj Sinha at Raj Bhawan.
The ceremony was attended by Chief Secretary Shri Atal Dulloo; Principal Secretary Finance, Shri Santosh D. Vaidya; Principal Secretary to the Lieutenant Governor, Dr. Mandeep K. Bhandari; and Shri Mohammad Shafi Mir, Company Secretary of J&K Bank.
The dividend payout follows the Bank’s approval of a 215% dividend at its 87th Annual General Meeting (AGM), reflecting both its robust financial health and its key role in driving the region’s economic development.
Congratulating the entire J&K Bank team, the Lieutenant Governor emphasized the importance of sustained growth and excellence in service. He highlighted that the Bank should continue promoting financial inclusion, connecting people across the region, and supporting small and micro-enterprises in manufacturing and services. Noting the Bank’s remarkable turnaround, he observed that J&K Bank, which had recorded a loss of Rs 1,139 crore in 2019-20, achieved a profit of Rs 1,700 crore by 2023-24.
Shri Amitava Chatterjee outlined the Bank’s performance and future roadmap, reaffirming J&K Bank’s commitment to providing premier banking services while contributing to Mission YUVA for inclusive, equitable, and sustainable economic growth across Jammu & Kashmir.
It was also noted that J&K Bank achieved a historic hat-trick of earnings, culminating in its highest-ever net profit of Rs 2,082 crore in FY 2024-25.
