Recruitment notification for officers, associates in J&K, Ladakh to be issued within days
Srinagar|Sept, 22: Jammu and Kashmir Bank has crossed the ₹3 trillion mark in total business and is preparing for a fresh phase of expansion, with plans to add more than 100 branches over the next two years while strengthening its capital base, digital infrastructure and workforce.
The milestone was announced by Managing Director and CEO Amitava Chatterjee during the bank’s 88th Annual General Meeting (AGM) of shareholders held at the Sher-i-Kashmir International Convention Centre (SKICC) here on Tuesday.
Chatterjee said the bank’s total business crossed ₹3 trillion by June 2026, describing the achievement as significant as the bank had moved from ₹2 lakh crore to ₹3 lakh crore in a relatively short period.
“Notwithstanding the challenging circumstances, your Bank maintained its growth trajectory and delivered a fourth consecutive year of record profitability,” Chatterjee told shareholders.
The bank recorded an all-time high net profit of ₹2,363 crore during the financial year 2025-26, registering a year-on-year growth of 13.5 per cent.
Responding to a shareholder query during the question-and-answer session, Chatterjee said the bank would soon issue a recruitment notification for officers and associates in Jammu and Kashmir and Ladakh.
The announcement comes as the bank prepares to expand its physical presence in J&K and other parts of the country.
Chatterjee said the bank has an overall target of opening more than 100 branches over the next two years, but clarified that expansion would be guided by commercial viability.“We will open branches only when we feel they are viable, productive and remunerative,” he said.
The fresh recruitment is expected to support the bank’s expansion plans as it seeks to strengthen its workforce and widen its operational footprint.
Chatterjee said the bank had achieved its highest-ever capital adequacy ratio of 16.55 per cent, while Common Equity Tier-1 (CET1) stood at 13.54 per cent.The bank reported a return on assets (ROA) of 1.37 per cent and return on equity (ROE) of 16.85 per cent, which Chatterjee said had comfortably surpassed the bank’s market guidance.
He said the stronger capital position provided adequate capacity for sustainable expansion while preparing the bank for an evolving regulatory environment, including the transition to the expected credit loss (ECL) framework.
“For long-term value creation, the focus will remain on the quality and sustainability of earnings rather than growth in isolation,” Chatterjee said.
He said the bank would require additional capital as it remained on a growth trajectory and faced changing regulatory requirements.
According to Chatterjee, capital requirements were also linked to the uncertain geopolitical environment, which he said had prompted financial institutions to strengthen and conserve their capital buffers.
The bank’s decision not to declare a dividend this year despite recording its highest-ever profit also came up during the AGM.
Chatterjee attributed the decision to three major factors — the prevailing geopolitical situation, impending regulatory changes relating to ECL and the bank’s growth requirements.He said the major stakeholders considered it prudent to conserve capital during the current financial year and assess how the regulatory and business environment evolved.
The decision, however, did not represent a change in the bank’s dividend policy, he said.
“Going forward, dividends will be doled out as usual in the coming years,” Chatterjee assured shareholders.
The bank’s CASA ratio was also discussed at the meeting.Chatterjee acknowledged that the CASA ratio had declined but said the trend was not specific to J&K Bank and was being witnessed across the banking industry.
He said J&K Bank continued to maintain one of the higher CASA ratios in the country, with CASA remaining above 45 per cent as of March 31, 2026.“It will not be factually correct that we have been losing CASA. In absolute terms we have been improving CASA; in percentage, it has been going down,” he said.
He attributed the decline in the ratio partly to a broader shift among savers towards instruments offering higher returns, including fixed deposits, capital markets and mutual funds.Chatterjee said the bank remained sensitive to the issue and was taking steps to improve its CASA ratio.
Digital transformation remained another major focus of the AGM.Chatterjee said investments in digital platforms, data analytics, cybersecurity and process automation were improving customer experience while making the bank’s operations more efficient and responsive.
Digital transactions grew by up to 94 per cent during FY 2025-26, which he said reflected increasing customer reliance on the bank’s digital ecosystem.
He said cybersecurity would remain a key priority as the bank expanded its digital footprint.The bank also reiterated its ambition of becoming the “Bank of Choice” by investing in people and technology, strengthening cybersecurity, improving customer experience and institutionalising a culture of innovation and excellence.
Bank Chairman S. Krishnan, who chaired the AGM, said the institution’s performance should ultimately be measured not only by its size but also by its contribution to the economic and social transformation of the region.
“Our past gives us identity. Our present gives us strength. Our future gives us responsibility. Trust is our inheritance. Tradition is our anchor. Transformation is our obligation,” Krishnan said.
He highlighted the bank’s long-standing role in enabling entrepreneurship and said its participation in Mission YUVA was particularly significant in helping a new generation create economic activity.
He said the bank’s role had evolved from providing access to organised finance to enabling entrepreneurship through modern financial tools and technology.
“Technology is the means. Customer experience is the end,” Krishnan said, stressing that digital expansion should make banking simpler, safer and more accessible.
The Chairman also placed on record the Board’s appreciation for the leadership of Chatterjee and his management team and commended employees for their dedication, resilience and professionalism.
The AGM was attended by Financial Commissioner (Additional Chief Secretary) Shailendra Kumar, representing the J&K Government as the majority shareholder and promoter, and Commissioner and Secretary of the Finance Department, Ladakh, TsewangTharchin, who was recently recommended by the bank’s Board for appointment as a Non-Executive Non-Independent Director.
Executive Director Sudhir Gupta, Chief General Managers, General Managers, Deputy General Managers, Company Secretary, Chief Financial Officer, auditors, scrutiniser and other senior officers were also present, besides shareholders and members of the media fraternity.
DGM and Company Secretary Mohammad Shafi Mir read out the Auditor’s Report, comments of the Comptroller and Auditor General (CAG) and the Secretarial Audit Report and briefed shareholders about the business items placed before the AGM.
He said the results of e-voting, along with the Scrutiniser’s Report, would be made available on the websites of the bank, its registrar and transfer agent and the stock exchanges within two working days of the conclusion of the AGM.
The meeting concluded with a question-and-answer session in which shareholders raised issues concerning recruitment, capital requirements, dividends, branch expansion, CASA deposits and the bank’s future growth strategy.Shareholders also appreciated the bank’s performance during the financial year 2025-26.
