J&K Bank to pay 50 per cent final dividend
Our Banking Bureau
7 May 2004

New Delhi: Jammu and Kashmir Bank has posted a net profit of Rs 406.33 crore for the financial year 2003-04, an increase of 20.3 per cent over the net profit of Rs 337.75 crore in the previous year.

The total income of the bank has increased from Rs 1,714.56 crore to Rs 1,822 crore. The bank has declared a final dividend of 50 per cent for the year. With an interim dividend of 50 per cent already paid to shareholders, the total dividend for the year stand 100 per cent.

For the quarter ended March 31, 2004, the bank has registered a decline in net profit to Rs 98 crore compared to a net of Rs 101.5 crore in the corresponding quarter in the previous year.

Total income increased from Rs 421.65 crore during quarter ended March 31, 2003 to Rs 435.56 crore during the last quarter of the fiscal 2003-04. The net worth of the bank increased by 28 per cent to Rs 1,594 crore over previous year's Rs 1,242 crore. The capital adequacy ratio stood at 16.88 per cent.

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