I f despite under devastating effect of COVID-19 pandemic , a Bank performs slightly better than the previous corresponding period, it denotes a better management and proper strategy based on fixing of targets and striving to achieving them. After series of difficult phases which the Jammu and Kashmir Bank passed through, there has been consistent improvement in parameters of some areas of performance. That it has recorded gross profits of Rs.315.75 crore for the last quarter of the financial year 2020-21 and its operating income increasing by 6 percent indicate that the momentum for a turnaround is picking up gradually in the Bank. What should be the major cause of concern for every Bank is how to come out of the impact of the pandemic which has upset most of the variables and parameters of growth , income and reduction in the NPAs. The Bank has reported that a slight decline from 3.48 to 2.95 percent in NPAs to total advances having taken place shows recoveries having increased which need a constant monitoring and slippages must be minimal as provisioning for fresh NPAs could impact the profits . Credit off-take being below expectations could impact the earnings as also on deposit front , low cost deposits which needed to be growing steadily have also been under strains . However, it has to be admitted that comparatively better management and concerted joint efforts of the staff have resulted in steering the Bank to presentable position in terms of gross profits and income in respect of the fourth quarter of the FY 2020-21.
Trending Now
E-Paper
Follow our WhatsApp channel