The Kashmir Chamber of Commerce and Industry today congratulated the management of the Jammu and Kashmir Bank Limited for registering an increase of 129 percent in their profits from last year. The shows a remarkable increase of more than double the previous years profits.
A spokesperson of the KCC&I said that in view of the overall negative market sentiment prevailing throughout, it is an extraordinary effort from the management of the Bank under the able leadership of Mr Pervez Ahmad and deserved to be commended.
The spokesperson stated that at the same time the hopes and expectations of the business community which has been under tremendous stress due to the disturbed conditions and especially after the 2014 Floods also need to be addressed. Although the Bank has provided unmatched support and handholding so far but the precarious condition of the State’s economy has not shown any improvement for reasons beyond the control of the bank and it’s borrowers.
“Now that the Bank is in a stable position, it needs to play it’s the role for providing solutions for the revival of the economy of the State which has always been deeply connected to and supported by the Jammu and Kashmir Bank,” said the spokesman.