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 prevailingthroughout, it is an extraordinary effort from the management of the J&KBank under the able leadership of its chairman Pervez Ahmad and deserved to becommended,” a spokesperson of the KCCI said.
The spokesperson stated that at the same time the hopes andexpectations of the business community which has been under tremendous stressdue to the disturbed conditions and especially after the 2014 Floods also needto be addressed. Although the bank has provided unmatched support andhandholding so far but the precarious condition of the State’s economy has notshown any improvement for reasons beyond the control of the bank and itsborrowers, the spokesperson said.
“Now that the bank is in a stable position, it needs to playits role for providing solutions for revival of the economy of the state whichhas always been deeply connected to and supported by the Jammu and KashmirBank,” the spokesperson said.