J&K Bank envisages 20% credit growth in J&K state

Srinagar: J&K Bank is eyeing a credit growth of around 20% in the J&K state with special focus on agriculture, trade and services sectors. Besides, the Bank plans to lay special emphasis on customer service by devising a state-of-the-art monitoring system for redressing customer grievances.

This was stated by Mushtaq Ahmad, Chairman & CEO, J&K Bank at the Bank’s Annual Zonal Review meet held here at SKICC today. The meeting was attended by Executive Presidents, Senior Presidents, Zonal Heads from across country and heads of various departments at Corporate Headquarters level.

The meeting was convened “to assess, understand and think as to what we have done, what we need to do and how we have done & how we need to do”.  Notably, J&K Bank is the major credit player in the J&K State with a contribution of over 63% amounting to over Rs.26000 Cr to the total loan book of all banks operating here. The branch network of the bank stands at over 740 branches in the state and the strength of ATM network is 929 in the state.

Emphasizing that Bank would continue to carry the legacy of growth, Chairman said, “We have a history of moving ahead with great pace despite all odds like economic downturn, from 2005 earthquake to September 2014 floods.”

Putting the Bank’s performance in perspective, Chairman observed that economic slowdown coupled with meek growth in banking sector had underscored the need to identify promising and performing sectors and facilitate their growth by pumping more funds into them. “I believe we need to aggressively pursue our business goals and in that direction we should achieve credit growth of around 20% in J&K State with special emphasis on agriculture through KCC, SHGs, and trade and services sectors.”

Attaching prime importance to customer satisfaction, Chairman urged the Zonal Heads to make themselves accessible to the customers to give personal touch to customer service.

While he expressed satisfaction over drastic decrease in the number of customer complaints, Chairman urged the operative heads not to remain complacent and ensure earning customer gratification by sticking to customer complaints redressal mechanism through personal availability, responsive communication, and better coordination among employees and across hierarchies.



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