Excelsior Correspondent
SRINAGAR, Aug 27: The 87th Annual General Meeting (AGM) of shareholders of J&K Bank was held here today.
The AGM themed ‘Driving Growth & Delivering Excellence’ was chaired by MD & CEO Amitava Chatterjee, in presence of Bank’s Directors-on-Board including Principal Secretary to Government (Finance Department) Santosh D Vaidya.
Two directors joined the AGM virtually.
On the occasion, the Bank announced a 215% dividend for FY 2024-25, marking the third consecutive year of rewarding shareholders in line with its strong and consistent performance.
Speaking on the occasion, Santosh D Vaidya congratulated the staff for their commitment and contribution, while describing the Bank’s AGM as an occasion to not only celebrate its successes but also reflect upon the challenges ahead.
He said, “The trust of shareholders and customers is the Bank’s core strength. The institution must continue to bolster that trust year after year.”
“While concluding his remarks, the Principal Secretary reiterated that the Bank must aspire to play a lead role in raising per capita income in J&K by scaling up operations and diversifying its business base.
Earlier, in his address at the AGM, MD & CEO Amitava Chatterjee said, “FY 2024-25 has been a landmark year for the Bank, as we have achieved record profits, a double-digit growth in both deposits and advances and continuing improvement in asset quality, capital adequacy and cost to income ratio, all of which are a reflection of our strong fundamentals and enhanced operational efficiency.”
Reflecting on the Bank’s digital transformation, he stated, “Our digital transformation journey has been pivotal with digital transactions accounting for 92.46% of our total transactions in FY 2024-25. During the financial year, we had a financial outlay of around Rs 31 cr in CSR, which was spent in various impactful CSR initiatives across diverse sectors such as healthcare, education, environmental sustainability and skill development – reflecting our continued commitment to inclusive and sustainable growth.”
“Looking ahead to the future, we aim to cross Rs 5 lakh cr business and reach Rs 5000 cr annual net profit by FY 2030. And to achieve these goals, our focus will remain on quality business growth, digital excellence, promoting financial inclusion, developing future-ready human capital and enhancing customer service,” he added.
Among others who attended the meeting included bank’s Executive Director Sudhir Gupta, Chief General Managers Sunit Kumar and Imtiyaz Ahmad, General Managers, Deputy General Managers, Company Secretary, Chief Financial Officer, Scrutinizer, Auditors and others.
Follow our WhatsApp channel
