Jammu & Kashmir Bank said that its gross advances jumped 11.64% to Rs 98,688.09 crore as on 30 June 2024 as against Rs 88,402.41 crore as of 30 June 2023.
On sequential basis, the banks gross advances rose by 1.75 % from Rs 96,981.86 crore as on 31 March 2024.
The bank's total business grew by 10.93% YoY to Rs 2,28,272.26 crore while total deposits increased 9.31% YoY to Rs 1,32,587.85 crore as of 30 June 2024.
On quarter on quarter (QoQ) basis, the total business fell marginally from Rs 2,28,537.40 crore as of 31 March 2024. Total deposits declined 1.62% from Rs 1,34,774.89 as of 31 March 2024.
CASA stood at Rs 65,995.70 crore as on 30 June 2024 (up 2.09% YoY and down 3.05% QoQ). CASA ratio reduced to 49.78% as of 30 June 2024 from 53.29% as of 30 June 2023 and 50.51% as of 31 March 2024.
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The banks gross investment stood at Rs 33,955.15 crore as on 30 June 2024 (down 0.55% YoY and down 5.69% QoQ).
Jammu & Kashmir Bank is a private sector scheduled commercial bank. The bank reported a 34.1% increase in standalone net profit to Rs 638.67 crore on 17% rise in total income to Rs 3,134.74 crore in Q4 FY24 over Q4 FY23.
The scrip tumbled 4.91% to currently trade at Rs 106.60 on the BSE.
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