SRINAGAR, SEPTEMBER 22 – J&K Bank today held 88th Annual General Meeting (AGM) of its shareholders here at SKICC.
Bank’s Part-time Non-Executive Chairman S. Krishnan chaired the AGM – themed ‘Trust, Tradition and Transformation’ – in the presence of MD & CEO Amitava Chatterjee and the Bank’s Directors on the Board, including Financial Commissioner (Additional Chief Secretary) Shailendra Kumar (IAS), representing the majority shareholder and promoter, i.e. the J&K Government; Commissioner and Secretary of the Finance Department, Ladakh UT, Tsewang Tharchin (IAS), who was recently recommended by the Bank’s Board for appointment as a Non-Executive Non-Independent Director.
Along with a large number of valued shareholders, the meeting was attended by the Bank’s Executive Director Sudhir Gupta, Chief General Managers, General Managers, Deputy General Managers, Company Secretary, Chief Financial Officer, Scrutinizer, auditors and other senior officers, besides members of the media fraternity.
Addressing the shareholders, Chairman S. Krishnan captured the essence of theme, saying, “Our past gives us identity. Our present gives us strength. Our future gives us responsibility. Trust is our inheritance. Tradition is our anchor. Transformation is our obligation.”
Chairman emphasised that the Bank’s progress must ultimately be measured by its wider contribution. “The question before us is therefore not simply: How large can the Bank become? It is: How significant can the Bank become in the economic and social transformation of the region and beyond?”, he said.
He also spoke about the continuity of Bank’s role in enabling entrepreneurship. Chairman said, “In the 1930s, the challenge was to create access to organised finance so that people could participate in economic activity. Today, the opportunity is to use finance to enable a new generation to create economic activity. The purpose remains remarkably similar. Only the opportunity has become larger, which makes Bank’s participation in Mission YUVA particularly significant.”
Reflecting on the Bank’s ongoing transformation, he said, “Technology is the means. Customer experience is the end. As the Bank expands its digital capabilities, the objective must be to make banking simpler, safer and more accessible.”
The Chairman also placed on record the Board’s appreciation for the leadership of MD & CEO Amitava Chatterjee and his management team, acknowledging their commitment in translating the Bank’s strategic direction into performance. He further commended employees across the Bank for their dedication, resilience and professionalism, describing them as custodians of relationships that have sustained J&K Bank for generations and, in the truest sense, its “living Bank”.
Speaking on the occasion, MD & CEO Amitava Chatterjee said, “Notwithstanding the challenging circumstances, your Bank maintained its growth trajectory and delivered a fourth consecutive year of record profitability. Net profit reached an all-time high of Rs 2,363 crore, registering year-on-year growth of 13.5%. The growth momentum has continued into the current financial year. By June 2026, the Bank crossed the historic milestone of Rs 3 trillion in total business. This milestone is particularly significant because the journey from Rs 2 lakh crore to Rs 3 lakh crore has been completed in a relatively short period, demonstrating the growing strength and scale of our franchise.”
“These outcomes demonstrate that our progress is broad-based, with profitability, asset quality, efficiency and capital strength advancing together. For our investors, this represents a resilient and increasingly diversified franchise, supported by strong fundamentals and a clear strategy for long-term value creation. As we grow, our focus will remain on the quality and sustainability of earnings rather than growth in isolation,” he added.
Reflecting on the Bank’s digital transformation, he stated, “Our investments in digital platforms, data analytics, cybersecurity and process automation are improving customer experience and making our operations more efficient and responsive. The rapid growth of up to 94% in digital transactions during FY 2025-26 demonstrates the increasing trust customers place in our digital ecosystem.”
Laying out the way forward, the MD & CEO said, “As we reflect with pride on a legacy spanning nearly nine decades, we remain conscious of the responsibility that accompanies it. Our aspiration is clear: to become the ‘Bank of Choice’. Towards this goal, we will continue to invest in our people and technology, reinforce cybersecurity, improve customer experience and institutionalize a culture of innovation and excellence.”
He concluded by placing on record his “gratitude to our customers for their enduring trust, our shareholders for their continued confidence, our directors for their invaluable guidance and our employees for their dedication.”
Thereafter, the Bank’s DGM & Company Secretary Mohammad Shafi Mir read out the Auditor’s Report, the comments of the Comptroller and Auditor General (C&AG) and the Secretarial Audit Report and provided a brief background of each business item to be transacted at the AGM.
He also informed the participants that the results of e-voting, along with the Scrutinizer’s Report, will be available on the websites of the Bank, RTA and Stock Exchanges within two working days from the conclusion of the AGM.
The meeting concluded with the question-answer session, wherein shareholders asked questions and MD & CEO Amitava Chatterjee answered all the queries to the satisfaction of the shareholders. Responding to a query regarding recruitment, MD &CEO said that the Bank will soon issue a recruitment notification for posts of associates and officers in J&K and Ladakh.
Notably, the shareholders appreciated the Bank’s consistently improving performance during the financial year 2025-26.
