Dedicating five new business units to the people, state’s only listed company Jammu and Kashmir Bank has taken its total branch network to 701. The addition is the part of Bank’s massive expansion plan to spread its wings far and wide especially within the state of J&K.
The new business units include Soimoh in Tral area of Pulwama district, Wandevalgam and Ahlan Gadole in Islamabad, Trenz and Fruit Mandi Prichoo in Shopian,
Commenting on the development Mushtaq Ahmad, Chairman & CEO of the bank described it as bank’s commitment to make banking services available at doorsteps of the people especially in rural areas.
To keep the expansion momentum going, the bank is planning to take its branch network to 800 by the end of current fiscal and “God willing, we will be having 1000 branches by the end of FY15”.
“We have a strong commitment to J&K, our core area of operations. In an effort to make the state financially inclusive, the bank has always ensured to make its presence felt in every block of the state, including unbanked and far flung areas,” Chairman said.
“The Bank follows its growth trajectory with increasing sense of responsibility towards all its stakeholders.and we would like to assure our valuable customers, stake holders and people of the state at large that J&K Bank remains committed to their financial empowerment and economic well-being”, he said.
Stating that Bank had taken some strategic decisions to further increase the Credit Deposit ratio in the J&K state, Chairman emphasized that bank is exploring newer opportunities to boost agriculture, horticulture, SME and other sectors.