J&K Bank Q3 Business Updates: Total Business Grows 8.56%
Jammu & Kashmir Bank's total business, which includes deposits and loans, stood at Rs 2.34 lakh crore in the October-December period.
.png?rect=0%2C0%2C661%2C372&auto=format%2Ccompress&fmt=avif&mode=crop&ar=16%3A9&q=60)
Jammu & Kashmir Bank Ltd.'s total business grew 8.56% on a yearly basis in the third quarter of fiscal 2025, according to an update on Monday.
The total business, which includes deposits and loans, stood at Rs 2.34 lakh crore in the October-December period, compared to Rs 2.18 lakh crore in the corresponding period last year, the private sector bank told the stock exchanges in its quarterly business updates.
Gross advances of the lender jumped 5.98% to Rs 99.2 lakh crore. The total advances were up 16% to Rs 2.08 lakh crore. Total deposits rose 9.65% to Rs 1.37 lakh crore.
Gross investment increased by 26.97% to Rs 39.6 lakh crore from Rs 32.6 lakh crore in the year ago period.
The Current Account-Savings Account ratio, a key indicator of a bank's financial health and also used to assess its profitability, stood at 48.60% at the end of December, against 50.59% in December 2023.
The CASA deposits rose to Rs 67 lakh crore from Rs 65 lakh crore a year earlier.
Jammu & Kashmir Bank Q2 FY25
The bank had reported a rise in total deposits of 8.96% year-on-year to Rs 1.38 lakh crore, in the quarter ended September. Its gross advances rose 8.3% year-on-year to Rs 99,344 crore in the year ago period. The total business of the bank was up 9.2% at Rs 2.34 lakh crore, as of Sept. 30.
CASA ratio fell to 48.61% from 50.61% in the second quarter of the current fiscal.
Shares of Jammu & Kashmir Bank fell as much as 4.12% during the day to Rs 96.61 apiece on the National Stock Exchange. It closed 2.69% lower at Rs 98.05 per share, compared to a 1.62% decline in the benchmark Nifty.
The one analyst tracking the company has a 'buy' rating on the stock. The average of 12-month analysts' price target implies a potential upside of 58.1%.
