Jammu and Kashmir Bank has achieved a record-breaking profit of Rs 485 crore in the April-June quarter of FY26, a 16.7% surge from Rs 415.49 crore in the same period last year, driven by its strategic focus on agriculture and retail lending, said MD & CEO Amitava Chatterjee. Despite setting aside Rs 87 crore for the amalgamation of Ellaquai Dehati Bank into Jammu and Kashmir Grameen Bank, the bank posted its highest-ever first-quarter profit.

Chatterjee highlighted the success of a new all-purpose term loan for agriculture, which replaced reliance on Kissan Credit Cards and spurred a Rs 1,500 crore growth in the sector this quarter. The bank aims to exceed its Rs 5,000 crore agri-loan target this fiscal, with Chatterjee optimistic about surpassing expectations due to strong demand. “The offtake has been phenomenal, outpacing even larger banks,” he told PTI.

The bank’s retail loan portfolio in regions outside Jammu and Kashmir has also seen remarkable growth, with a 50-75% improvement over last year. By focusing on high-demand products like home and auto loans, the bank has strengthened its competitive edge. Meanwhile, J&K Bank has deliberately reduced its corporate lending exposure, prioritizing selective, universally accepted products.

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Chatterjee noted that internal process improvements, including centralized processing for corporate, SME, and agri sectors, have laid the foundation for sustained growth. “This quarter’s success reflects our strategic shift and refined processes, positioning us for even stronger performance,” he said.

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