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J&K Bank in the top Best Banks group: BT-KPMG Best Bank study
11/25/2011 11:18:44 PM
Early Times Report
SRINAGAR , November 25 : : The Jammu & Kashmir Bank has been ranked one of the best banks in the financial magazine Business Today and global consulting firm KPMG (BT– KPMG) Best Bank study -2011. It is for the first time that J&K Bank has moved to this elite group. The study ranked the Bank No.1 bank on the basis of NPA coverage ratio which is best in the industry as at the end of the March 2011.
The bank is having third lowest net non performing assets (NPAs) which stood at 0.20 at the end of last financial year. The BT-KPMG arrived at the list by combining its ranks on each of the 26 parameters: Deposits (both 1-year growth and 3-year growth); loans and advances (both 1-year growth and 3-year growth); fee income (1-year growth and 3-year growth); operating profit (1-year growth and 3-year growth); increase in market share (deposits and CASA); deposits; operating profit; balance sheet; total NPA growth rate; NPA coverage ratio; Net NPA/Net advances; cost/income ratio (%); cost/average asset ratio; operating profit/employee; change in return on assets; increase in operating profit/total income; return on assets; fee income/total income; ROCE; Net interest income/AWF, and capital adequacy ratio.
Over all the bank has been ranked 15th best bank in large banks category in the country based on the last year’s growth, quality of assets, productivity and efficiency parameters, leaving State Bank of India, Federal Bank, HSBC Bank, Standard Chartered Bank and other major banks far behind.
The Chairman and CEO, Mushtaq Ahmad, while commenting on BT-KPMG study said, “The ranking is an acknowledgement of our efforts during the last one year for scaling up our business and strengthening the balance sheet for the year ended March 2011. Our innovative approach towards business, both within and outside J&K is paying dividends for the bank.”
“The hard work of our employees and the trust and confidence of our customers, investors and all other stakeholders in the J&K Bank has earned us this top ranking, said the chairman. He further advised that there is no scope for any complacency as the banking industry is passing through difficult times” , he adds.

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