J&K Bank Pays Over ₹131 Crore Dividend to UT Administration

MD & CEO Amitava Chatterjee presenting dividend cheques to Lieutenant Governor Manoj Sinha. (Source: Daily Excelsior)

JAMMU, Sept 6: J&K Bank on Saturday initiated the payout of dividends for the financial year 2024–25 by handing over two cheques amounting to a combined ₹130.77 crore to the Union Territory Administration — the bank’s promoter and principal shareholder. The cheques of ₹122.85 crore and ₹7.92 crore were presented by Managing Director & CEO Amitava Chatterjee to Lieutenant Governor Manoj Sinha at Raj Bhawan.

Historic Dividend After Strong Turnaround

The dividend payout follows the Bank’s approval of a 215% dividend at its 87th Annual General Meeting — a sign of robust financial health after a steep turnaround. Bank officials highlighted the institution’s remarkable recovery: from a loss of ₹1,139 crore in 2019–20 to registering record profits in recent years, capped by its highest-ever net profit of ₹2,082 crore in FY 2024–25.

Officials Present at the Handover

The cheque presentation was attended by top administration and bank officials, including Chief Secretary Atal Dulloo, Principal Secretary (Finance) Santosh D. Vaidya, Principal Secretary to the LG Dr. Mandeep K. Bhandari, and Mohammad Shafi Mir, Company Secretary of J&K Bank. The event underlined the bank’s role as a key financial institution in the region and its commitment to supporting local economic activity.

LG Calls for Continued Focus on Inclusion & Growth

Lieutenant Governor Manoj Sinha lauded the bank’s performance and urged J&K Bank to continue pushing for inclusive growth. He emphasized financial inclusion, supporting micro and small enterprises, and expanding services to connect more citizens with formal financial channels — aims that align with the UT administration’s broader development priorities.

Bank’s Roadmap and Commitments

MD & CEO Amitava Chatterjee reviewed the bank’s performance and outlined the roadmap ahead. He reiterated J&K Bank’s commitment to delivering quality banking services and its role in advancing schemes like Mission YUVA to foster equitable and sustainable economic development across Jammu & Kashmir. Chatterjee also highlighted that the dividend payout reflects the bank’s strengthened balance sheet and operational recovery post-2019.

Why This Matters

The dividend distribution is significant for the UT government’s finances and symbolises a wider economic recovery narrative after several challenging years. It also signals confidence in regional banking institutions and their capacity to mobilize resources for local development initiatives.

Source: Daily Excelsior (Read Original)

Labels: J&K Bank, Dividend, UT Administration, Finance, Regional Banking

Tags: #JKBANK #Dividend #JammuKashmir #Finance #DailyExcelsior

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