Jammu and Kashmir Bank has achieved its highest-ever net profit of ₹1,197 crore for FY 2022-23. Can you highlight the factors that have contributed to your exceptional performance?
I feel proud to have been at the helm when Jammu and Kashmir Bank has added this historic milestone to its remarkable journey of 85 years. Exceptional commitment, professionalism and the teamwork of the entire staff have played an instrumental role in achieving this momentous feat. Since every exceptional performance is the result of serious effort backed by a sound strategy, one of the primary factors that contributed to our brilliant performance was our maiden ‘Strategy Conclave’ in Srinagar last year, wherein we identified the focus areas in performance and functioning.
These included profitability, business growth, asset quality, capital augmentation, digitisation and business process re-engineering (BPR), etc. The bank’s line of action was planned during the conclave and thereafter implemented across our zones of operation on a priority basis with rigorous monthly follow-up reviews till March 2023. And the results are there for everyone to see. In functional terms, the upgrade of our CBS from Finacle 7 to Finacle 10 definitely helped us leverage the operating system better for new digital banking platforms to ensure ease-ofbanking and business for our customers. So, a host of factors coalesced and contributed to such historic performance.
This story is from the July 03, 2023 edition of Dalal Street Investment Journal.
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This story is from the July 03, 2023 edition of Dalal Street Investment Journal.
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