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| J&K Bank holds 77th AGM, approves 210 pc dividend | | |  Early Times Report
Srinagar, Aug 22: While recognizing sluggish market conditions taking its toll in the banking industry in the country and calling fluctuations in profitability as a routine business norm, the shareholders of the J&K Bank appreciated the performance of the bank during the past one year.
The shareholders of the bank had assembled here today at 77th Annual General Meeting (AGM) of the bank's shareholders. Among other things, two new directors were appointed and a dividend payment of 210 percent to its share owners was approved at the meeting.
Commissioner Secretary Finance Naveen Kumar Chaudhary respresented the state government, which is the major stake-holder in the bank, at the AGM that took place here in a jam-packed SKICC auditorium. Share holders of the bank belonging to different walks of life attended the meeting.
Chairman and CEO Mushtaq Ahmad said, "Throughout the year we were confronted with numerous impediments and uncertainties. However, with your unwavering support, we succeeded in navigating safely through this turbulence."
He recollected the disproportionately sharp increase in stressed assets in the Indian Banking System and the situation created by the devastating floods of September, 2014 in J&K as the most daunting challenges of the last financial year. |
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