Former chairman of the J&K Bank, MY Khan, on Saturday interacted with the top management of the institute – executive presidents, presidents and vice presidents – at the corporate headquarters here under the initiative 'Stakeholders' Connect Series' of the banks launched by the chairman and CEO Parvez Ahmed.
In the Connect Series, J&K Bank, as a mark of gratitude,will invite all the present and legacy stakeholders, who have been instrumentalin creating and strengthening the brand equity journey of the bank, forinteraction and knowledge sharing.
Acknowledging the gesture of the bank's leadership, Khanreiterated his emotional relationship with the bank and shared his experienceand some of the landmark moments of his time, like bringing the stategovernment employees within the banking fold, acquisition of the residentialflats at Delhi and Mumbai, the building of corporate headquarters etc, aspokesperson of the bank said.
He recalled an interaction he had with the Civil ServiceOfficers at Dehradun when the bank was at a nascent stage of computerisation inwhich the participants enquired about the rapid growth of J&K Bank and hehad remarked that it was the result of introduction of ATM in the bank.Surprised at this response he was told that other banks too were introducingATMs but they were not growing at that rate. He responded that the ATMintroduced by him was altogether different from others' ATMs because what hemeant by ATM was Accountability, Transparency, and Merit.
Commending the transparency and sustained profitability focus of the bank's current management under the leadership present leadership, he said, "Parvez Ahmed and his team is doing it well", further adding, "the people at J&K Bank work hard and have always carried forward the legacy of delivering their best in the challenging times.
The people at the operational level have always surpassed the expectations of the management and that is the intrinsic strength of the bank which I am glad is being nurtured by the Bank's management."
Earlier the chairman and CEO Parvez Ahmed while welcoming the ex-chairman described him as a visionary leader who transformed the bank as a very strong bank with state of the art infrastructure at par with any leading private sector bank in the country.
The Chairman said, "His innovative, out of the box strategy leveraging the core strength of the Bank's relationship with its promoter the state government catalysed exponential growth in the Bank's business from a modest 4600 Cr to 33000 Cr during his tenure with improvement in net worth by a whopping 850 percent which is the fountainhead of bank's growth till date".
"The maiden public issue brought under his tenure not only shored up the paid capital of the bank but also created huge value for the local shareholders further strengthening the emotional equity with the people of the state.
The Bank has been able to sustain during turbulent times riding on the strength of unlocking the value of strategic investment made by M Y Khan during tie up with one of the strongest brand in the life insurance sector at that time M/S Metlife International." added Parvez Ahmed.