Jammu and Kashmir Bank has reported  net loss of Rs 336.74 crore for the quarter ended March 31, 2020 as against net loss of Rs 213.73 crore for the period ended March 31, 2019.
Total income for the quarter under review decline by 8.06 pc to Rs 2278.58 crores  as compared with Rs.2478.32 crores for the quarter ended March 31, 2019, bank said in a filing with BSE.
The net NPA for the Q4 has come down considerably to 3.48 pc when compared to the figure of 4.89 pc reported during the corresponding quarter of last FY.For the Financial year ended March 31, 2020 Bank  net loss of Rs 1183.38 crores as against net profit of Rs 466.67 crore for the  Financial year ended March 31, 2019.
Bank total income for the Financial year ended March 31, 2020 grew by 5.93 pc to Rs 8996.66 crore as compared with  Rs 8493.04 crore for the Financial year ended March 31, 2019.
As per the yearly numbers, the Net interest income (NII) of the bank increased by around 10 pc Year-on-Year (YoY) and stood at Rs 3706.67 Cr for FY 19-20 as against Rs 3383.93 Cr reported during last financial year.
The bank's advances stood at Rs 64399 Cr while as the deposits witnessed growth of over 9 pc reaching up to Rs 97788 Cr from Rs 89639 Cr thereby increasing the total business of the bank by 4 pc to Rs 162187 Cr.
The operating profit of the bank before provisioning stood at Rs 1525.05 Cr. Owing to substantial increase in provisions to the tune of Rs 2523 Cr made towards bad and doubtful assets against Rs 1053 Cr made during the previous year, the bank registered a net loss of Rs 1139.41 Cr for the FY ended March 2020.
As a way to strengthening its bottom-line in near future, the bank increased its Provisioning Coverage Ratio (PCR) to 78.59 pc from 64.30 pc Year-on-Year basis.