J&K Bank elevates senior officers in management

KL Report

SRINAGAR

To further strengthen its top management, J&K Bank has made elevations in the top management by promoting six Presidents to the level of Senior President, a company statement said. The orders to this effect were issued by Mushtaq Ahmad, Chairman & CEO on Thursday.

“The new senior Presidents include Vagish Chander, Shafat Ahmad Banday, Meera Jamwal, Roop Krishan Shah, Surjeet Singh Sehgal and Abdul Rauf Bhat,” the statement said.

Commenting on the elevations, Chairman said, “The promotions are part of the Bank’s plan to allow further momentum at the leadership level to consolidate upon growth and expansion”.

Describing bank’s human capital as the biggest asset, Chairman said, “In our endeavour to value and recognize the contribution of human resource, we have been constantly creating opportunities to present a promising growth path to our human resource across all levels.”

“The strategic aspect of the elevations is also closely tied with our increasing footprint and growing size and as such the whole process of succession planning that we have been talking about needs to be seen in the backdrop of ever-evolving challenges and opportunities, and adding value to our brand and business”, he emphasized.

He added, “We are hopeful that these officers will handle their new roles, which of course are big and strategic, with great sense of responsibility and excellent leadership qualities”.

 Meanwhile, the J&K Bank approves sub-division of shares. “J&K Bank approved the sub-division of one equity share of the Bank having a face value of Rs. 10 each into ten equity shares of face value Rs. 1 each,” the statement said.

“The decision was considered and approved during the bank’s Board of Directors’ meeting held here at its Corporate Headquarters. The sub division of shares is subject to approval of the shareholders and any other statutory and regulatory approvals, as applicable,” it added.

Notably, the markets responded positively to the bank’s 10-for-1 stock split as the share reached Rs 1631.40 witnessing an intra-day increase of 0.89% on BSE, the statement claimed.

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