The bank's net interest margin (NIM) for the quarter has improved to 4.04%. Return on assets (RoA) increased by 19 basis points YoY to 1.34% for the quarter, while the cost-to-income ratio reduced for the quarter to 57.28% YoY from 62.36%.

The bank recorded significant growth in business volumes, with net advances increasing by 7% YoY to Rs 95,990.38 crore. Deposits grew by 9.7% YoY to Rs 1,40,947.14 crore, while maintaining one of the best CASA ratios in the industry at 48.17%.

The bank's gross non-performing assets (NPAs) stood at Rs 4,041.04 crore as on 31 December 2024, as against Rs 4,526.48 crore as on 31 December 2023 and Rs 3,916.26 crore as on 30 September 2024.

The ratio of gross NPAs to gross advances stood at 4.08% as of 31 December 2024, as against 3.95% as of 30 September 2024 and 4.84% as of 31 December 2023. The ratio of net NPAs to net advances stood at 0.94% as of 31 December 2024, as against 0.85% as of 30 September 2024 and 0.83% as of 31 December 2023.

Amitava Chatterjee, MD & CEO said, “These Q3 results reaffirm our strong fundamentals and operational efficiency. A 26.2% YoY increase in quarterly net profit, along with a 32.7% rise for the nine-month period, highlights our sustained focus on delivering value to stakeholders while navigating dynamic market conditions. Driven by efficiency gains, our cost-to-income ratio has also reduced by over 5% YoY.”

“We are well-cushioned in terms of capital with our CAR at over 15%, which will be further boosted by internal accruals on account of net profit for current fiscal. It provides us an ample headroom for expanding our lending operations. Despite financial services sector witnessing heavy FPI outflow during 2024, there is an increase in FII/FPI shareholding to 7.07% as on 31st December, 2024 from 5.81% recorded a year ago,” he added.

J&K Bank offers banking services under the three major divisions as support services, depository services, and third-party services.

Shares of J&K Bank declined 2.14% to Rs 95.85 on the BSE.