NPA of Jammu And Kashmir Bank

Hi I would like to know the Non Performing Assets of the Jammu & Kashmir Bank and how has it affected the functioning of the bank?

[Pathak]

J&K Bank's NPAs have gone up colossally in the Dec quarter of 2014, including more than 460 cr. to Gross NPAs, taking them to 2658 cr. on aggregate advances of Rs. 46,000 cr. This is up immensely from 725 cr. in the same quarter a year ago.

A lot of these NPAs are as a consequence of surges, the circumstance in REI Agro and prior, in HDIL (both of which transformed NPA through HDIL has transformed once again into a standard record), and added to the NPAs were the misfortunes because of the extortion.

J&K bank has a 5% stake in Metlife's Indian arm. It had purchased 11% of the joint endeavor, and after that sold 5.2 crore offers in the endeavor in 2012 (when PNB got in) at Rs. 36.5 for each offer, giving it about Rs. 190 cr.

Today it proceeds to possess around 10 cr. shares and it might want to get Rs. 70 for every offer for the stakes.

Jammu and Kashmir Bank tumbled 13.93% to Rs 1,584 on BSE because of these negative reports.

By report, Jammu and Kashmir Bank (J&K Bank) has not characterized the credit adding up to Rs 1100 crore and given to three organizations and as NPAs in its monetary record.

J&K Bank's proportion of net non-performing resources (NPAs) to net advances remained at 0.22% as on 31 March 2014, contrasted and 0.22% as on 31 December 2013 and 0.14% as on 31 March 2013.