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Business Economy


J&K Bank net profit rises to Rs 214 cr in Q4

J&K Bank net profit rises to Rs 214 cr in Q4

New Delhi, May 16 (UNI) The Jammu and Kashmir Bank has posted a net profit of Rs 214.80 crore in the fourth quarter ended March 2019 due to strong retail credit growth, sale of partial stake in PNB Metlife and resolution of some large NPLs, the bank announced on Thursday.

The bank’s profit in the October-December quarter of FY 2018-19 was only Rs 28.41 crore, the bank said while releasing the results for the FY 2018-19 and Q4 FY 18-19 after its Board of Directors adopted the audited numbers in its meeting held at bank’s corporate headquarters in Srinagar.

The bank also reported a 129 per cent growth in net profit for the financial year 2018-19 at 465 crore as compared to Rs 202 crore in the previous fiscal.

The total income of the bank rose to Rs 8,487 crore in the FY 2018-19 as compared to Rs 7,116 crore a year ago.

“Our numbers are unfolding in line with our strategic business plan to direct the focus of our credit expansion in J&K state especially in retail & SME segments. We are continuously gaining market share in J&K besides improving the penetration of credit to hitherto credit starved geographies/segments especially in consumer and housing sectors.

“If you see our segmental numbers in retail, housing has grown by 79 per cent from 3117 crore to 5384 crore, consumer finance has grown exponentially from 195 crore to 1978 crore, car loans have grown by 37 per cent from 2000 crore to 2741 crore resulting in aggregate retail credit growth of 33 per cent,’’ Bank chairman Parvez Ahmed said.

UNI SW ADG 1759

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Zendesk Commended by Frost & Sullivan for Its Customer-focused Sales Force Automation Solution

14 Jul 2020 | 10:17 PM

SANTA CLARA, Calif., July 14, 2020 /PRNewswire/ -- Based on its recent analysis of the North American small and mid-sized business (SMB) mobile worker apps market, Frost & Sullivan recognizes Zendesk with the 2020 North American Product Leadership Award for its Sell sales force automation (SFA) solution. The solution stands out for its ease of use, affordable pricing, creative bundling, ongoing support, and emphasis on the customer experience.

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Mexico Telecommunication Giant, Alestra, Deploys Bright Pattern Contact Center Software for CENACEDs Telehealth Services During COVID-19

14 Jul 2020 | 10:16 PM

SOUTH SAN FRANCISCO, California, July 14, 2020 /PRNewswire/ -- CENACED, a non-profit healthcare organization, has deployed Bright Pattern as their cloud-based contact center software provider amid the COVID-19 pandemic. CENACED uses Bright Pattern to offer free telehealth services to help citizens in Mexico dealing with stress during the quarantine. They have also moved agents and counselors to a remote model to protect the safety of their employees during the pandemic.

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Cooperative Banks playing key role in effective implementation of flagship schemes: Himachal CM

Cooperative Banks playing key role in effective implementation of flagship schemes: Himachal CM

14 Jul 2020 | 8:44 PM

Shimla, Jul 14 (UNI) The three major Cooperative Banks were providing credit facility to weak Public Sector Undertakings of the State besides playing a key role in effective implementation of all flagship schemes of the State, Chief Minister Jai Ram Thakur said while presiding over a meeting of Cooperative Department here on Tuesday.

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BharatBenz celebrates new production milestones despite lockdown

14 Jul 2020 | 8:41 PM

Kolkata, Jul 14 (UNI) Daimler India Commercial Vehicles (DICV) today announced the production of its 1000th BSVI heavy duty truck, one of over 1500 BSVI compliant vehicles the company has manufactured in the last few months despite the ongoing lockdown.

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Gadkari calls upon Khattar to join in developing industrial cluster along Delhi-Mum Expressway

Gadkari calls upon Khattar to join in developing industrial cluster along Delhi-Mum Expressway

14 Jul 2020 | 8:33 PM

New Delhi, Jul 14 (UNI) MSME Minister Nitin Gadkari on Tuesday called upon Haryana Chief Minister Manohar Lal Khattar to join in the efforts for developing industrial clusters including MSMEs, smart cities and smart villages and also to develop Khadi and Village industries alongside the express way projects, particularly the new Delhi-Mumbai Expressway.

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