Srinagar, May 16 -- J&K Bank, the state owned premier financial institution reported a 129 % growth in net profit for the Financial Year 2018-19 at 465 Cr as compared to 202 Cr in the previous fiscal. In the March quarter bank has reported a profit of 214.80 Cr as compared to 28.41 Cr in the corresponding quarter of FY 2018. Buoyed by strong retail credit growth, sale of partial stake in PNB MetLife and resolution of some large NPLs the total income of the bank rose to Rs 8487 crore in the FY 2018-19 as compared to Rs 7116 Cr a year ago.
The results for the FY 2018-19 and Q4 FY 18-19 were announced by the Bank today after Board of Directors of the Bank adopted the audited numbers of the Bank in its meeting held at Bank's Corporate Headquar...