Performance report of J&K Bank for the quarter ending December 2013 is laudable by all means. Advances grew by 21.48 per cent, deposits by 10.66 per cent, total business up by 14.82 per cent and net profit increased by 15.76 per cent. These are all enviable figures and speak for themselves.
There is no doubt that J&K Bank has made good progress in comparison to previous years, thanks to efficient management and delivery. It is now considered one of the leading banks of the country. Its expansion has been rapid and efficient and the bank has been trying to reach even the farthest nooks of the State. Its functioning has improved considerably and the customers are now very happy while dealing with the bank. The CEO has given an idea of its future expansion and that instils the hope that the bank will have more laurels to its credit.
We would like to repeat what we have often been saying on the encouraging performance of this bank. The stage has come when J&K Bank should perform much bigger and much extended role in providing lungs to the economy of the state and to its industrialization, educational, scientific and technological advancement as well. Expansion of economy and a strong campaign for industrialization of the State are the only viable means of providing employment to our youth especially the educated youth. Therefore J&K Bank should embark on a mega project of contributing to the industrialization of the State. We lag behind in this area perhaps owing to many natural reasons. But with overall scenario of connectivity improving rapidly, like the extension of railway link and four lanning of the National Highway, it should be possible for the J&K Bank to make reassessment of its role in supporting industrialization effort of the State.
Achievements of the J&K Bank are more significant in view of the fact that there has been financial recession in the country and not too happy an economic position in general. Making handsome profits in this scenario speaks eloquently for the efficiency of the mangers and field staff of J&K Bank. We join those who would like to compliment the Bank for its achievements.
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