J&K Bank
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July 2 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK - SIGNS CORPORATE AGENCY AGREEMENT WITH SBI LIFE AND HDFC LIFE ON JULY 2, 2026
Source text: ID:nBSE2hy7DS
Further company coverage: JKBK.NS
(([email protected];))
July 2 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK - SIGNS CORPORATE AGENCY AGREEMENT WITH SBI LIFE AND HDFC LIFE ON JULY 2, 2026
Source text: ID:nBSE2hy7DS
Further company coverage: JKBK.NS
(([email protected];))
Jammu & Kashmir Bank reported provisional business figures for the quarter ending June 2026, showing gross advances surged 25.5% year-on-year to ₹1,30,576 crore, while total deposits rose 16.75% to ₹1,73,420 crore. The low-cost current and savings account (CASA) ratio fell to 42.08% from 45.71% a year earlier, a decline of 363 basis points. Absolute CASA deposits grew 7.48% to ₹72,979 crore. The bank said the figures are provisional and subject to audit.
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Jammu & Kashmir Bank reported provisional business figures for the quarter ending June 2026, showing gross advances surged 25.5% year-on-year to ₹1,30,576 crore, while total deposits rose 16.75% to ₹1,73,420 crore. The low-cost current and savings account (CASA) ratio fell to 42.08% from 45.71% a year earlier, a decline of 363 basis points. Absolute CASA deposits grew 7.48% to ₹72,979 crore. The bank said the figures are provisional and subject to audit.
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May 7 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RBI APPROVAL TO KOTAK MAHINDRA BANK FOR ACQUIRING AGGREGATE HOLDING UP TO 9.99% IN JAMMU AND KASHMIR BANK
Source text: ID:nNSE6wPSVX
Further company coverage: JKBK.NS
(([email protected];;))
May 7 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RBI APPROVAL TO KOTAK MAHINDRA BANK FOR ACQUIRING AGGREGATE HOLDING UP TO 9.99% IN JAMMU AND KASHMIR BANK
Source text: ID:nNSE6wPSVX
Further company coverage: JKBK.NS
(([email protected];;))
** Jammu and Kashmir Bank JKBK.NS shares rise 2.4% to 137.92 rupees
** Co's Q4 net profit of 7.98 billion rupees vs 5.85 billion rupees last year
** Interest earned rose to 32.72 billion from 32.12 billion
** "The consistent improvement in asset quality, alongside a healthy business growth, now extending to 6 consecutive years, continues to remain a hallmark of performance," management says on earnings call
** JKBK holds a trailing 12-months PE of 6.92 vs industry median of 10.88
** YTD, stock up 34.4% vs 8.4% fall in Nifty Bank Index .NSEBANK
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
** Jammu and Kashmir Bank JKBK.NS shares rise 2.4% to 137.92 rupees
** Co's Q4 net profit of 7.98 billion rupees vs 5.85 billion rupees last year
** Interest earned rose to 32.72 billion from 32.12 billion
** "The consistent improvement in asset quality, alongside a healthy business growth, now extending to 6 consecutive years, continues to remain a hallmark of performance," management says on earnings call
** JKBK holds a trailing 12-months PE of 6.92 vs industry median of 10.88
** YTD, stock up 34.4% vs 8.4% fall in Nifty Bank Index .NSEBANK
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
May 5 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK Q4 NET PROFIT 7.98 BILLION RUPEES
JAMMU AND KASHMIR BANK Q4 GROSS NPA 2.5%
JAMMU AND KASHMIR BANK Q4 INTEREST EARNED 32.72 BILLION RUPEES
JAMMU AND KASHMIR BANK Q4 PROVISIONS AND CONTINGENCIES 502.7 MILLION RUPEES
Source text: [ID:]
Further company coverage: JKBK.NS
(([email protected];))
May 5 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK Q4 NET PROFIT 7.98 BILLION RUPEES
JAMMU AND KASHMIR BANK Q4 GROSS NPA 2.5%
JAMMU AND KASHMIR BANK Q4 INTEREST EARNED 32.72 BILLION RUPEES
JAMMU AND KASHMIR BANK Q4 PROVISIONS AND CONTINGENCIES 502.7 MILLION RUPEES
Source text: [ID:]
Further company coverage: JKBK.NS
(([email protected];))
** Shares of Dynacons Systems and Solutions DSSL.NS up 5.2% at 930 rupees
** The IT firm wins an enterprise resource planning (EPR) project worth 250 million rupees ($2.7 million) from Jammu and Kashmir Bank JKBK.NS
** Stock set to rise for a fourth consecutive session, if gains hold
** Stock moved above its 50-day simple moving avg following the project news
** YTD, DSSL down ~9%
($1 = 92.9600 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
** Shares of Dynacons Systems and Solutions DSSL.NS up 5.2% at 930 rupees
** The IT firm wins an enterprise resource planning (EPR) project worth 250 million rupees ($2.7 million) from Jammu and Kashmir Bank JKBK.NS
** Stock set to rise for a fourth consecutive session, if gains hold
** Stock moved above its 50-day simple moving avg following the project news
** YTD, DSSL down ~9%
($1 = 92.9600 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
April 2 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - GROSS ADVANCES AS OF MARCH 31, 2026 UP 16.83%
JAMMU AND KASHMIR BANK LTD- TOTAL DEPOSITS AS OF MARCH 31, 2026 UP 11.3% YOY
Source text: ID:nBSE5GxvH7
Further company coverage: JKBK.NS
(([email protected];))
April 2 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - GROSS ADVANCES AS OF MARCH 31, 2026 UP 16.83%
JAMMU AND KASHMIR BANK LTD- TOTAL DEPOSITS AS OF MARCH 31, 2026 UP 11.3% YOY
Source text: ID:nBSE5GxvH7
Further company coverage: JKBK.NS
(([email protected];))
March 24 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RECEIVES TAX DEMAND AND PENALTY OF 2 BILLION RUPEES EACH
Source text: ID:nBSE6DyVgj
Further company coverage: JKBK.NS
(([email protected];))
March 24 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RECEIVES TAX DEMAND AND PENALTY OF 2 BILLION RUPEES EACH
Source text: ID:nBSE6DyVgj
Further company coverage: JKBK.NS
(([email protected];))
Feb 24 (Reuters) - My Mudra Fincorp Ltd MYMU.NS:
EMPANELLED WITH J&K BANK FOR SECURED LOANS
Source text: ID:nNSE71zvPL
Further company coverage: MYMU.NS
(([email protected];;))
Feb 24 (Reuters) - My Mudra Fincorp Ltd MYMU.NS:
EMPANELLED WITH J&K BANK FOR SECURED LOANS
Source text: ID:nNSE71zvPL
Further company coverage: MYMU.NS
(([email protected];;))
** Shares of Jammu & Kashmir Bank JKBK.NS rise nearly 4% to 102.8 rupees
** State-owned lender posted 10% rise in Q3 profit on Tuesday, helped by higher 'other income' and improved asset quality
** Gross bad loans ratio improves to 3% from 3.32% last quarter
** Stock fell 0.5% in 2024
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Shares of Jammu & Kashmir Bank JKBK.NS rise nearly 4% to 102.8 rupees
** State-owned lender posted 10% rise in Q3 profit on Tuesday, helped by higher 'other income' and improved asset quality
** Gross bad loans ratio improves to 3% from 3.32% last quarter
** Stock fell 0.5% in 2024
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
Jan 20 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK Q3 NET PROFIT 5.87 BILLION RUPEES
JAMMU AND KASHMIR BANK Q3 GROSS NPA 3%
JAMMU AND KASHMIR BANK Q3 INTEREST EARNED 33.13 BILLION RUPEES
Source text: ID:nBSE5N6Lg9
Further company coverage: JKBK.NS
(([email protected];))
Jan 20 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK Q3 NET PROFIT 5.87 BILLION RUPEES
JAMMU AND KASHMIR BANK Q3 GROSS NPA 3%
JAMMU AND KASHMIR BANK Q3 INTEREST EARNED 33.13 BILLION RUPEES
Source text: ID:nBSE5N6Lg9
Further company coverage: JKBK.NS
(([email protected];))
Nov 20 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - BOARD MEETING TO CONSIDER CAPITAL RAISING
Source text: ID:nBSE5N9F0v
Further company coverage: JKBK.NS
(([email protected];))
Nov 20 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - BOARD MEETING TO CONSIDER CAPITAL RAISING
Source text: ID:nBSE5N9F0v
Further company coverage: JKBK.NS
(([email protected];))
Nov 13 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - RBI APPROVES SANKARASUBRAMANIAN KRISHNAN AS PART TIME CHAIRMAN
Source text: ID:nBSE4Z69lt
Further company coverage: JKBK.NS
(([email protected];))
Nov 13 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - RBI APPROVES SANKARASUBRAMANIAN KRISHNAN AS PART TIME CHAIRMAN
Source text: ID:nBSE4Z69lt
Further company coverage: JKBK.NS
(([email protected];))
** Shares of Jammu & Kashmir Bank JKBK.NS fall 2.6% to 93.85 rupees
** Bank's Q4 net profit falls 8.5% Y/Y to 5.85 bln rupees ($69.3 mln); interest earned rose 10.4% Y/Y
** Q4 gross NPA at 3.37% vs 4.08% in Q3
** JKBK down ~7% YTD
($1 = 84.4010 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of Jammu & Kashmir Bank JKBK.NS fall 2.6% to 93.85 rupees
** Bank's Q4 net profit falls 8.5% Y/Y to 5.85 bln rupees ($69.3 mln); interest earned rose 10.4% Y/Y
** Q4 gross NPA at 3.37% vs 4.08% in Q3
** JKBK down ~7% YTD
($1 = 84.4010 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
May 5 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK MARCH-QUARTER NET PROFIT 5.85 BILLION RUPEES
JAMMU AND KASHMIR BANK MARCH-QUARTER GROSS NPA 3.37%
JAMMU AND KASHMIR BANK MARCH-QUARTER INTEREST EARNED 32.12 BILLION RUPEES
Source text: ID:nBSEbYSZJ6
Further company coverage: JKBK.NS
(([email protected];))
May 5 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK MARCH-QUARTER NET PROFIT 5.85 BILLION RUPEES
JAMMU AND KASHMIR BANK MARCH-QUARTER GROSS NPA 3.37%
JAMMU AND KASHMIR BANK MARCH-QUARTER INTEREST EARNED 32.12 BILLION RUPEES
Source text: ID:nBSEbYSZJ6
Further company coverage: JKBK.NS
(([email protected];))
April 9 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
INDIA COURT STAYS OPERATION OF TAX DEMAND ORDERS AGAINST J&K BANK
Source text: ID:nBSE2LBjmG
Further company coverage: JKBK.NS
(([email protected];;))
April 9 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
INDIA COURT STAYS OPERATION OF TAX DEMAND ORDERS AGAINST J&K BANK
Source text: ID:nBSE2LBjmG
Further company coverage: JKBK.NS
(([email protected];;))
April 4 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
TOTAL DEPOSITS UP 10.24% Y/Y AS OF MARCH 31
GROSS ADVANCES AS OF MARCH END UP 10.32% Y/Y
Further company coverage: JKBK.NS
(([email protected];;))
April 4 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
TOTAL DEPOSITS UP 10.24% Y/Y AS OF MARCH 31
GROSS ADVANCES AS OF MARCH END UP 10.32% Y/Y
Further company coverage: JKBK.NS
(([email protected];;))
** Shares of Jammu and Kashmir Bank JKBK.NS fall as much as 4% before trimming losses to trade 1.7% lower at 101.6 rupees
** Lender gets tax demand and penalty of total 162.61 billion rupees ($1.86 billion), which is nearly 1.5x its market cap
** Shares were up 2.3% before the news
** Bank says the demand order will have no material impact on its financials and operations
** Stock set to snap four straight sessions of gains
** More than 11.6 mln shares traded, 3.1x its 30-day moving avg
** JKBK fell 18% in 2024
($1 = 87.2075 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
** Shares of Jammu and Kashmir Bank JKBK.NS fall as much as 4% before trimming losses to trade 1.7% lower at 101.6 rupees
** Lender gets tax demand and penalty of total 162.61 billion rupees ($1.86 billion), which is nearly 1.5x its market cap
** Shares were up 2.3% before the news
** Bank says the demand order will have no material impact on its financials and operations
** Stock set to snap four straight sessions of gains
** More than 11.6 mln shares traded, 3.1x its 30-day moving avg
** JKBK fell 18% in 2024
($1 = 87.2075 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
Jan 20 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
Q3 NET PROFIT 5.32 BILLION RUPEES
Q3 GROSS NPA 4.08%
Q3 INTEREST EARNED 32.06 BILLION RUPEES
Q3 PROVISIONS AND CONTINGENCIES WRITE BACK 98 MILLION RUPEES
Q3 PROVISIONS FOR NPA 227.6 MILLION RUPEES
Source text: ID:nBSE9YWYXf
Further company coverage: JKBK.NS
(([email protected];;))
Jan 20 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
Q3 NET PROFIT 5.32 BILLION RUPEES
Q3 GROSS NPA 4.08%
Q3 INTEREST EARNED 32.06 BILLION RUPEES
Q3 PROVISIONS AND CONTINGENCIES WRITE BACK 98 MILLION RUPEES
Q3 PROVISIONS FOR NPA 227.6 MILLION RUPEES
Source text: ID:nBSE9YWYXf
Further company coverage: JKBK.NS
(([email protected];;))
Jan 14 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RECEIVES ADMINISTRATIVE WARNING FROM SEBI
SEBI WARNING PERTAINS TO APPOINTMENT OF AMITAVA CHATTERJEE AS MD, CEO
Source text: ID:nNSE1H9x3g
Further company coverage: JKBK.NS
(([email protected];;))
Jan 14 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RECEIVES ADMINISTRATIVE WARNING FROM SEBI
SEBI WARNING PERTAINS TO APPOINTMENT OF AMITAVA CHATTERJEE AS MD, CEO
Source text: ID:nNSE1H9x3g
Further company coverage: JKBK.NS
(([email protected];;))
Jan 6 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK - GROSS ADVANCES UP 5.98% Y/Y AS OF DEC-END
JAMMU AND KASHMIR BANK - TOTAL DEPOSITS AS OF DEC-END UP 9.65% Y/Y
Source text: [ID:]
Further company coverage: JKBK.NS
(([email protected];))
Jan 6 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK - GROSS ADVANCES UP 5.98% Y/Y AS OF DEC-END
JAMMU AND KASHMIR BANK - TOTAL DEPOSITS AS OF DEC-END UP 9.65% Y/Y
Source text: [ID:]
Further company coverage: JKBK.NS
(([email protected];))
Dec 30 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
AMITAVA CHATTERJEE JOINS J&K BANK AS MD & CEO
Source text: ID:nNSE9THS8Z
Further company coverage: JKBK.NS
(([email protected];;))
Dec 30 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
AMITAVA CHATTERJEE JOINS J&K BANK AS MD & CEO
Source text: ID:nNSE9THS8Z
Further company coverage: JKBK.NS
(([email protected];;))
Oct 4 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
TOTAL DEPOSITS AS OF SEPT 30 UP 8.96% Y/Y
GROSS ADVANCES AS OF SEPT 30 UP 8.30% Y/Y
Source text for Eikon: ID:nBSE97rQ0g
Further company coverage: JKBK.NS
(([email protected];;))
Oct 4 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
TOTAL DEPOSITS AS OF SEPT 30 UP 8.96% Y/Y
GROSS ADVANCES AS OF SEPT 30 UP 8.30% Y/Y
Source text for Eikon: ID:nBSE97rQ0g
Further company coverage: JKBK.NS
(([email protected];;))
June 12 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RE-APPOINTED ALTAF HUSSAIN KIRA AS CHIEF RISK OFFICER
Further company coverage: JKBK.NS
(([email protected];))
June 12 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
RE-APPOINTED ALTAF HUSSAIN KIRA AS CHIEF RISK OFFICER
Further company coverage: JKBK.NS
(([email protected];))
April 16 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
APPOINTED FAYAZ AHMAD GANAI AS CHIEF FINANCIAL OFFICER
Source text for Eikon: ID:nBSE7GSvJQ
Further company coverage: JKBK.NS
(([email protected];))
April 16 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
APPOINTED FAYAZ AHMAD GANAI AS CHIEF FINANCIAL OFFICER
Source text for Eikon: ID:nBSE7GSvJQ
Further company coverage: JKBK.NS
(([email protected];))
April 8 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - PROVISIONAL TOTAL DEPOSITS UP 10.44% Y/Y AS OF MARCH END
JAMMU AND KASHMIR BANK LTD - GROSS ADVANCES AS OF MARCH END UP 12.67% Y/Y
Source text for Eikon: ID:nBSEbBxrFJ
Further company coverage: JKBK.NS
(([email protected];))
April 8 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
JAMMU AND KASHMIR BANK LTD - PROVISIONAL TOTAL DEPOSITS UP 10.44% Y/Y AS OF MARCH END
JAMMU AND KASHMIR BANK LTD - GROSS ADVANCES AS OF MARCH END UP 12.67% Y/Y
Source text for Eikon: ID:nBSEbBxrFJ
Further company coverage: JKBK.NS
(([email protected];))
April 5 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
PRATIK D PUNJABI RESIGNS AS CHIEF FINANCIAL OFFICER
Source text for Eikon: [ID:]
Further company coverage: JKBK.NS
(([email protected];))
April 5 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
PRATIK D PUNJABI RESIGNS AS CHIEF FINANCIAL OFFICER
Source text for Eikon: [ID:]
Further company coverage: JKBK.NS
(([email protected];))
April 2 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
SIGNED CORPORATE AGENCY AGREEMENT WITH NEW INDIA ASSURANCE COMPANY
AGREEMENT SHALL BE OPERATIONAL/EFFECTIVE FROM APRIL 02, 2024
Further company coverage: JKBK.NS
(([email protected];))
April 2 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
SIGNED CORPORATE AGENCY AGREEMENT WITH NEW INDIA ASSURANCE COMPANY
AGREEMENT SHALL BE OPERATIONAL/EFFECTIVE FROM APRIL 02, 2024
Further company coverage: JKBK.NS
(([email protected];))
March 12 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
CLARIFIES REPORT 'ENFORCEMENT DIRECTORATE ATTACHES PROPERTIES IN BANK FRAUD CASE' DOES NOT PERTAIN TO CO
Source text for Eikon: ID:nNSEbWy60
Further company coverage: JKBK.NS
(([email protected];))
March 12 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:
CLARIFIES REPORT 'ENFORCEMENT DIRECTORATE ATTACHES PROPERTIES IN BANK FRAUD CASE' DOES NOT PERTAIN TO CO
Source text for Eikon: ID:nNSEbWy60
Further company coverage: JKBK.NS
(([email protected];))
By Siddhi Nayak and Dharamraj Dhutia
MUMBAI, Jan 5 (Reuters) - Diminishing lure for perpetual bonds is likely to prompt Indian state-run banks switch to the equity market for raising funds in coming months, five banking sources told Reuters this week.
Indian banks, including top lender State Bank of India, have raised around 87 billion rupees ($1.05 billion) through perpetual bonds so far this fiscal, just about a quarter of fiscal 2023, with most struggling to raise even the targeted amount at auctions.
"With deposit rates inching higher, banks will have to pay a higher coupon on their debt securities, especially with mutual funds staying away from investing in perpetual debt," a senior official at a large state-run bank said.
Market regulator Securities Exchange Board of India had in March 2021 said that additional Tier 1 bonds would be considered to have a deemed maturity of 100 years, starting April 2023.
"This move has literally ended mutual fund investments in such papers, making fundraising more difficult," a trader with a private bank said.
Demand for these bonds fell further last year, after Credit Suisse wrote off around $17 billion of its additional Tier 1 debt amid its rescue merger with UBS.
"There is a possibility that banks may tap the equity route more for fundraising as valuations will improve further, while getting large quantum with AT-I bonds has become difficult," another banker said.
The sources asked to remain anonymous as they were not authorised to speak to the media.
Last month, state-run lenders Bank of India BOI.NS and Indian Bank INBA.NS raised 45 billion rupees and 40 billion rupees, respectively, via qualified institutional placement (QIP) of shares.
A QIP enables fundraising by offering equity shares to qualified buyers without a public offering.
Union Bank of India UNBK.NS had raised 50 billion rupees through a QIP in August.
Last week, Punjab National Bank PNBK.NS approved raising aggregate 75 billion rupees via equity.
The Nifty PSU Bank index .NIFTYPSU rallied 32.30% in 2023, outperforming the bank index .NSEBANK and financial services index .NIFTYFIN.
"State-run banks have cleaned up their balance sheets well and their valuations are still at a discount," said Vinod Nair, head of research at Geojit Financial Services.
($1 = 83.1650 Indian rupees)
(Reporting by Siddhi Nayak and Dharamraj Dhutia; Editing by Swati Bhat and Varun H K)
(([email protected]; +91 22 6921 7848; Reuters Messaging: Twitter: https://twitter.com/siddhiVnayak))
By Siddhi Nayak and Dharamraj Dhutia
MUMBAI, Jan 5 (Reuters) - Diminishing lure for perpetual bonds is likely to prompt Indian state-run banks switch to the equity market for raising funds in coming months, five banking sources told Reuters this week.
Indian banks, including top lender State Bank of India, have raised around 87 billion rupees ($1.05 billion) through perpetual bonds so far this fiscal, just about a quarter of fiscal 2023, with most struggling to raise even the targeted amount at auctions.
"With deposit rates inching higher, banks will have to pay a higher coupon on their debt securities, especially with mutual funds staying away from investing in perpetual debt," a senior official at a large state-run bank said.
Market regulator Securities Exchange Board of India had in March 2021 said that additional Tier 1 bonds would be considered to have a deemed maturity of 100 years, starting April 2023.
"This move has literally ended mutual fund investments in such papers, making fundraising more difficult," a trader with a private bank said.
Demand for these bonds fell further last year, after Credit Suisse wrote off around $17 billion of its additional Tier 1 debt amid its rescue merger with UBS.
"There is a possibility that banks may tap the equity route more for fundraising as valuations will improve further, while getting large quantum with AT-I bonds has become difficult," another banker said.
The sources asked to remain anonymous as they were not authorised to speak to the media.
Last month, state-run lenders Bank of India BOI.NS and Indian Bank INBA.NS raised 45 billion rupees and 40 billion rupees, respectively, via qualified institutional placement (QIP) of shares.
A QIP enables fundraising by offering equity shares to qualified buyers without a public offering.
Union Bank of India UNBK.NS had raised 50 billion rupees through a QIP in August.
Last week, Punjab National Bank PNBK.NS approved raising aggregate 75 billion rupees via equity.
The Nifty PSU Bank index .NIFTYPSU rallied 32.30% in 2023, outperforming the bank index .NSEBANK and financial services index .NIFTYFIN.
"State-run banks have cleaned up their balance sheets well and their valuations are still at a discount," said Vinod Nair, head of research at Geojit Financial Services.
($1 = 83.1650 Indian rupees)
(Reporting by Siddhi Nayak and Dharamraj Dhutia; Editing by Swati Bhat and Varun H K)
(([email protected]; +91 22 6921 7848; Reuters Messaging: Twitter: https://twitter.com/siddhiVnayak))
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What does J&K Bank do?
The J&K Bank operates as a universal bank in Jammu & Kashmir and Ladakh, and a specialised bank in the rest of the country. It follows a two-legged business model to increase lending in its home territory and capture niche lending opportunities pan-India.
Who are the competitors of J&K Bank?
J&K Bank major competitors are City Union Bank, Tamilnad Mercantile, South Indian Bank, Ujjivan Small Fin, Karnataka Bank, Equitas Small Fin., Karur Vysya Bank. Market Cap of J&K Bank is ₹18,192 Crs. While the median market cap of its peers are ₹12,072 Crs.
Is J&K Bank financially stable compared to its competitors?
J&K Bank seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does J&K Bank pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. J&K Bank latest dividend payout ratio is 11.37% and 3yr average dividend payout ratio is 9.7%
How has J&K Bank allocated its funds?
Company has been allocating majority of new resources to productive uses like advances.
How strong is J&K Bank balance sheet?
Latest balance sheet of J&K Bank is weak, and historically as well.
Is the profitablity of J&K Bank improving?
Yes, profit is increasing. The profit of J&K Bank is ₹2,368 Crs for TTM, ₹2,082 Crs for Mar 2025 and ₹1,771 Crs for Mar 2024.
Is J&K Bank stock expensive?
Yes, J&K Bank is expensive. Latest PE of J&K Bank is 7.71, while 3 year average PE is 6.26. Also latest Price to Book of J&K Bank is 1.1 while 3yr average is 0.76.
Has the share price of J&K Bank grown faster than its competition?
J&K Bank has given better returns compared to its competitors. J&K Bank has grown at ~39.86% over the last 3yrs while peers have grown at a median rate of 21.72%
Is the promoter bullish about J&K Bank?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in J&K Bank is 59.4% and last quarter promoter holding is 59.4%.
Are mutual funds buying/selling J&K Bank?
The mutual fund holding of J&K Bank is increasing. The current mutual fund holding in J&K Bank is 3.89% while previous quarter holding is 3.74%.