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Shareholding Info
  • Promoters
    63.41 %
  • Foreign institutions-FII
    2.61 %
  • Other domestic institutions
    1.77 %
  • Retail and other
    29.06 %
  • Mutual Funds
    3.15 %

Jammu and Kashmir Bank overview

Jammu and Kashmir Bank (J&K Bank) was established in 1938 and is headquartered in Srinagar. It is a Scheduled Commercial Bank. The Reserve Bank of India (RBI) has designated Jammu and Kashmir Bank as its exclusive agent to carry out banking business in the Union Territories of Jammu & Kashmir and Ladakh. The bank is listed on the NSE (National Stock Exchange) and the BSE (former Bombay Stock Exchange).

As of 31st March 2021, the majority of shareholding of Jammu and Kashmir Bank lies with the Government of Jammu and Kashmir, at 68.18%.

By 31st March 2021, Jammu and Kashmir Bank held a market share of 64.84% in advances, 63.92% in deposits and 39.3% of branches across the scheduled commercial banks operating in the Union Territory of Jammu and Kashmir.

The bank had 957 network business units and 1,386 ATMs as of 31st July 2021. During this period, the bank operated across 18 states and 4 union territories in India.

By the end of FY2021-22, the bank’s aggregate business was valued at around ₹1,85,111 crore. As of 31st March 2022, the bank’s total deposits stood at around ₹1,14,710 crore over ₹1,08,061 crore on 31st March 2021, a growth of 6.15%.

The bank caters to businesses, government, semi-government and autonomous bodies, farmers, artisans, the public sector and corporates. The bank collects tax revenues within the union territories of Jammu & Kashmir and Ladakh. The tax revenues are collected for the Central Government as part of the Central Board of Direct Taxes and Central Board of Excise and Customs’ directives.

Jammu and Kashmir Bank journey

Key J&K Bank milestones since its inception are:
  • 1971: The bank receives the status of a scheduled bank.
  • 1976: RBI declares the bank an 'A' Class bank.
  • 1998: J&K Bank introduces housing and education loan schemes.
  • 2003: The bank launches an international debit card - Global Access Card, with Master Card International.
  • 2004: It ties up with ICICI Bank to share an ATM network. The bank receives the Asian Banking Award 2004 in Manila, Philippines, for its customer convenience program.
  • 2015: J&K Bank increases its stake in JKBFSL by 100%. It contributes ₹10 crore towards the company’s share capital.
  • 2019: It launches new products like the Gold Loan scheme and Merchant Overdraft scheme. It deploys Direct Selling Agents (DSA) in the rest of India for housing loans. The bank receives the BFSI Leadership Award.
  • 2020: It receives IBA’s Best Technology Bank of the Year Award for FY2019-20 under the small bank category. It is also awarded the Top Banker Award for PMEGP for FY2019-20.
  • 2022: For FY2021-22, the bank earns profit after tax (PAT) of ₹500 crore after a 7-year gap PAT showed an increase of 16% over FY2020-21.

Jammu and Kashmir Bank Products

J&K offers banking products under four main categories, namely:
  • Personal
  • Business
  • Agriculture
  • NRI
The bank's Personal products include loans, personal accounts, term deposits, insurance and cards. Under its Business category, the bank’s offerings include loans, government-sponsored schemes, business accounts and insurance. J&K Bank’s Agriculture products are made of different loans. The bank offers NRI services in the form of rupee deposits, downloaded forms and information.

Jammu and Kashmir Bank stock price return in 5 years: -20.63%

Jammu and Kashmir Bank business highlights

The company’s key business segments are:

3-year CAGR (revenue)


EBIDT (FY2021-22)

₹1,243 crore

Profit (FY2021-22)

₹502 crore

Jammu and Kashmir Bank share price return in last 3 years


ROCE (FY2021-22)


ROE (FY2021-22)


Jammu and Kashmir Bank management

  • Managing Director: Baldev Prakash
  • Chief Executive Officer (CEO): Baldev Prakash
  • Chief Finance Officer (CFO): Pratik D Punjabi
  • Investor Relations (Compliance Officer): Mohammad Shafi Mir

Indian banking industry overview

Key banking sector players are:

Key players

Market capitalisation

 December 2022

 (in crore)








Kotak Mahindra Bank



Axis Bank



Jammu and Kashmir Bank


Size of the Indian banking industry

  • During FY2021-22, the Indian banking industry had a market size of around USD 2,678 billion over USD 2,436 billion during FY2020-21.
  • There were 2,13,145 ATMs in India by September 2021, of which 47.5% were in rural and semi-urban areas.
  • For FY2021-22, the bank credit stood at USD 1,532 billion, compared to USD 1,488 billion during FY2020-21.
  • The FinTech sector in India had USD 29 billion in funding from January 2017 to July 2022. It amounted to 14% of the worldwide funding.

Banking industry growth prospects

  • The Reserve Bank of India has projected Indian economic growth at 7.2% during FY2022-23.
  • By 2025, the FinTech sector in India is projected to touch ₹6,20,000 crore.
  • During the forecast period of 2022-2028, the digital banking platform in India is expected to grow at a CAGR of 9.8%.
  • The fusion of technology and inter-wired ecosystems is expected to result in a higher proliferation of banking services in rural areas of the county.
  • The banking sector is expected to have a 10% credit growth during FY2022-23, mainly owing to a rise in digitisation, the introduction of unique micro-products, and the growth of the FinTech sector.

Jammu and Kashmir Bank growth prospects

  • J&K Bank’s future initiatives are focused on sustainable growth, improving asset quality, upskilling staff capabilities, and upgrading technological platforms.
  • The bank aims to achieve better asset quality, a strong balance sheet, better capital structure and return maximisation.
  • Going forward, it aims to reduce fresh slippages through monitoring and vigilance on the Separately Management account (SMA) portfolio and focus on recoveries.
  • It wants to increase retail and Current Account Savings Account (CASA) deposit base to reduce costs and improve revenue margins and profitability.
  • The bank wants to collaborate with Non-Banking Financial Companies (NBFCs) and Fintech companies to increase the financial reach of the bank across India.

Risks and concerns

  • The large number of NPAs is a major concern for the banking industry. Issues like the Covid-19 pandemic, the global economic downturn and the rise in inflation have seen a rise in the number of NPAs in banks.
  • Exchange rate depreciation can impact domestic borrowers. It could further lead to the deterioration of the bank’s asset quality.
  • Exchange rate fluctuations and adverse global situations like the current Russia-Ukraine crisis and the US-China trade war increase investment, credit and liquidity risk for the banking sector.
  • Rise in digital banking initiatives also increases cyber security risks in the form of online data theft and fraud.


M/s KFin Technologies Limited
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