Srinagar, May 17: Valley’s apex industrial body, the Federation Chamber of Industries Kashmir has felicitated J&K Bank team under the leadership of its chairman Dr. Haseeb A. Drabu for attaining a remarkable business turnover of Rs.60,000 crore in 2009-10 with a net profit of Rs 512 crore.
 President FCIK, Shakeel Qalander expressed  his delight over the record achievements made by bank during past few years and said, “I hope the bank would continue to work hard in order to meet its ambitious Rs 1 lakh crore business turnover target by 2012.”
 “The J&K Bank, as only listed company in the state, has enhanced the investors’ confidence by announcing a significant 220 per cent dividend to its share-holders,” he said, adding that the state needed successful financial institutions like the bank to have public investments as well as over all economic development.
 The President, FCIK also expressed satisfaction over the increase in the priority sector as well as other lending to various economic segments adding that it was quite convincing that about 70 per cent of the total credit flow in the state is alone met by J&K Bank.
 “The J&K Bank is an inseparable asset of the people of Jammu and Kashmir that apart from flowing credit into the market was also involved in social activities under the corporate social responsibility in public interest.” Qalander hoped that like in the past, the bank would continue to launch tailor-made financial products suitable to various segments of economy in the state and increase the general customer confidence.
 He said the bank management should remove deadwood from middle and lower levels in order to flow smooth credit into the market.

Lastupdate on : Mon, 17 May 2010 21:30:00 Makkah time
Lastupdate on : Mon, 17 May 2010 18:30:00 GMT
Lastupdate on : Tue, 18 May 2010 00:00:00 IST