J&K Bank reports double-digit growth in total business in Q3

Jammu and Kashmir Bank reported a steady improvement in its business performance for the third quarter, with total business rising 13.34% year-on-year to ₹2.72 lakh crore.

The lender’s total deposits increased 10.58% on a yearly basis to ₹1.55 lakh crore, reflecting continued deposit mobilisation during the quarter. Growth was supported by both retail and institutional deposits, although the pace of expansion in low-cost deposits remained modest.

CASA (current account savings account) deposits stood at ₹68,736 crore at the end of the quarter, registering a marginal rise of 1.25% year-on-year. As a result, the CASA ratio declined to 44.10%, compared with 48.17% in the corresponding period last year. The fall in the ratio indicates a higher share of term deposits in the overall deposit mix.

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Despite the moderation in CASA growth, the bank’s overall business expansion underscores resilience in its core operations amid a competitive banking environment. The year-on-year rise in total business was driven by healthy balance sheet growth and sustained customer engagement.

The quarterly business update provides a snapshot of the bank’s operational performance ahead of its detailed financial results.

The shares ended 1.37% higher at ₹102.42 on Friday, January 2, ahead of the announcement.

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