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J&K Bank slumps on reporting Q4 net loss of Rs 294 cr

June 30,2020  14:43

Total income in the fourth quarter fell 7.9% to Rs 2277 crore from Rs 2473.47 crore in the same period last year.

Pre-tax loss stood at Rs 238.35 crore in Q4 FY20 as against pre-tax profit of Rs 222.65 crore in Q4 FY19.

The bank's provisions and contingencies surged 64.2% to Rs 620.49 crore in Q4 March 2020 over Q4 March 2019. Of this, provisions for NPAs rose 30.2% YoY to Rs 586.21 crore.

The bank's gross non-performing assets (NPAs) stood at Rs 7671.63 crore as on 31 March 2020 as against Rs 7711.60 crore as on 31 December 2019 and Rs 6221.35 crore as on 31 March 2019.

The ratio of gross NPAs to gross advances stood at 10.97% as on 31 March 2020 as against 11.10% as on 31 December 2019 and 8.97% as on 31 March 2019. The ratio of net NPAs to net advances stood at 3.48% as on 31 March 2020 as against 4.36% as on 31 December 2019 and 4.89% as on 31 March 2019.

J&K Bank offers banking services under the three major divisions as support services, depository services and third party services.

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