J&K Bank

J&K Bank posted a set of very disappointing numbers for Q4FY15, with a drop in profit and an increase in NPA. Its net profit for the quarter dipped 60% (YoY) at Rs.102 crore and this was mainly due to increase in NPAs. Its asset quality showed some serious deterioration. Gross NPA for the quarter rose sharply from 1.66% to 5.97% (YoY) while Net NPA rose from 0.22% to 2.77%. Its total provisions also showed a huge surge from Rs.60 crore to Rs.381 crore (YoY).

The Bank ended FY14 also on a dismal note with net profit slipping 57% to Rs.509 crore on a 7% rise in total income at Rs.7655 crore. What is shocking is that at end of FY15, the amount of bad loans on its books rose by a jaw-dropping 1112% at Rs.1236 crore and its cash balance too showed a sharp 22% decline at Rs.2373 crore.