Jammu and Kashmir Bank's Dividend Boost: A Testament to Economic Resilience

Jammu and Kashmir Bank's CEO, Amitava Chatterjee, has handed over dividend cheques amounting to Rs 130.77 crore to the Union Territory administration, underscoring the institution's financial robustness.

The cheques were presented after the bank approved a 215 percent dividend during its 87th Annual General Meeting, demonstrating its pivotal economic role in the region.

Under Lieutenant Governor Manoj Sinha's leadership, the administration witnessed the bank's impressive recovery from a loss of Rs 1,139 crore in 2019-20 to a profit of Rs 1,700 crore in 2023-24. The bank is committed to financial inclusion and supporting micro-enterprises.

(With inputs from agencies.)