J&K Bank holds 88th AGM of its shareholders

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SJ&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%.