J&K Bank board to consider fund raising on 2 Sept

Jammu & Kashmir Bank (J&K Bank) on Saturday announced that its board will meet on 2 September 2021 to consider raising of capital (Tier I/Tier II).

Aug 28, 2021 04:08 IST capital market

Shares of Jammu & Kashmir Bank (J&K Bank) ended 3.99% higher at Rs 35.15 on Friday.

J&K Bank offers banking services under the three major divisions as support services, depository services and third party services. The Government of Jammu & Kashmir is the promoter shareholder of the bank. It held 68.18% stake in the bank as of 30 June 2021.

The bank reported a sharply higher net profit of Rs 104.32 crore in Q1 FY22 as compared to Rs 6.5 crore in Q1 FY21. Total income rose 2.5% to Rs 2,211.48 crore in Q1 FY22 over Q1 FY21.

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