The Kashmir Chamber of Commerce and Industry (KCCI) on Friday congratulated the management of the J&K Bank for registering 129 percent growth in its net profit for 2018-19.
“In view of the overall negative market sentiment prevailing throughout, it is an extraordinary effort from the management of the J&K Bank under the able leadership of its chairman Pervez Ahmad and deserved to be commended,” a spokesperson of the KCCI said.
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 its borrowers, the spokesperson said.
“Now that the bank is in a stable position, it needs to play its role for providing solutions for revival of the economy of the state which has always been deeply connected to and supported by the Jammu and Kashmir Bank,” the spokesperson said.