Srinagar, Sept 06: J&K Bank Managing Director and CEO, Amitava Chatterjee, today handed over dividend cheques amounting to Rs 130.77 crore to the UT Administration , the Bank’s promoter and major shareholder, for the financial year 2024-25.
The two cheques, worth Rs 122.85 crore and Rs 7.92 crore respectively, were presented to Lieutenant Governor Manoj Sinha at Raj Bhawan in a formal ceremony.
The event was attended by Chief Secretary Atal Dulloo, Principal Secretary Finance Santosh D. Vaidya, Principal Secretary to the Lieutenant Governor Dr Mandeep K. Bhandari, and 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), highlighting the Bank’s robust financial health and its key role in driving the region’s economic progress.
Congratulating the Bank’s team on this achievement, Lieutenant Governor Manoj Sinha urged J&K Bank to sustain its growth trajectory and continue delivering excellent services to the people of the Union Territory.
He emphasised the importance of financial inclusion, urging the Bank to deepen its outreach and support small and micro-enterprises in manufacturing and services sectors. He also lauded the Bank’s remarkable turnaround since 2019, noting that while it recorded a loss of Rs 1,139 crore in 2019-20, it posted a profit of Rs 1,700 crore in 2023-24.
Speaking at the occasion, Managing Director and CEO Amitava Chatterjee outlined the Bank’s strong performance and future plans. He reaffirmed J&K Bank’s commitment to providing top-notch banking services while contributing actively to Mission YUVA, aimed at fostering inclusive, equitable, and sustainable economic growth across Jammu and Kashmir.
It was also announced that J&K Bank has achieved a hat-trick of historic earnings, culminating in its highest-ever net profit of Rs 2,082 crore in the financial year 2024-25.
