Jammu & Kashmir Bank
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| Jammu and Kashmir Bank Limited (The) | |
|---|---|
| Type | |
| Founded | 1938 |
| Headquarters | , India |
| No. of locations | > 500 branches/offices |
| Industry | Financial, Commercial Banks |
| Revenue | 20,595,000,000 (2007) |
| Employees | 6833 |
| Website | http://www.jkbank.net |
Jammu & Kashmir Bank was founded on October 1,1938 and it commenced business from July 4, 1939. The Jammu & Kashmir Bank Limited has been the first of its nature and composition as a State owned bank in the country. The Bank was established as a semi State Bank with participation in capital by State and the public under the control of State Government.
The bank had to face serious problems at the time of independence when out of its total of ten branches two branches of Muzaffarabad and Mirpur fell to the other side of the line of control (now Pak Occupied Kashmir) along with cash and other assets. Following the extension of Central laws to the state of Jammu & Kashmir, the bank was defined as a government company as per the provisions of Indian companies act 1956.
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The Jammu & Kashmir Bank is today one of the fastest growing banks in India with a network of more than 500 branches/offices spread across the country offering world class banking products/services to its customers. Today, the Bank has a status of value driven organization and is always working towards building trust with shareholders, customers, borrowers, regulators, employees and other diverse stakeholders, for which it has adopted a strategy directed to developing a sound foundation of relationship and trust aimed at achieving excellence, which of course, comes from the womb of good corporate governance. Good governance is a source of competitive advantage and a critical input for achieving excellence in all pursuits. J&K Bank considers good corporate governance as the sine qua non of a good banking system and has adopted a policy based on all the four pillars of good governance– transparency, disclosures, accountability and value.
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