J&K Bank holds 88th AGM; approves accounts, auditor remuneration & Rs 1000 Cr fundraising
J&K Bank held its 88th AGM on Sep 22, 2026. Shareholders approved accounts, auditor remuneration, and a fundraising plan of up to ₹1,000 crore. Mr. Tsewang Tharchin was appointed as a Director. The bank reported a record net profit of ₹2,363 crore for FY2025-26 and aims for a ₹5 trillion business by 2030.
The approval of a significant capital raise of ₹1,000 crore, along with positive financial results and strategic goals, has a substantial impact on the bank's future growth and financial stability.
The announcement details positive financial performance, including record profits and business growth, alongside approvals for capital raising and director appointments, indicating a strong outlook for the bank.
The Jammu & Kashmir Bank Limited (J&KBANK) has announced the minutes of its 88th Annual General Meeting (AGM) held on September 22, 2026. The meeting was attended by 11298 members in person and 3 through proxy.
During the AGM, shareholders approved the standalone and consolidated audited financial statements for the year ended March 31, 2026, along with the Directors' Report and Auditors' Report. They also authorized the Board of Directors to fix the remuneration for the Statutory Auditors for the Financial Year ending March 2027, including for the limited review of quarterly financial results for periods ending June 30, 2026, September 30, 2026, and December 31, 2026.
A significant resolution passed was the approval for the Board to raise capital up to ₹1,000 crore through the issuance of equity shares and/or other convertible securities. This fundraising aims to maintain the Government of the Union Territory of J&K's shareholding at a minimum of 51%. The issuance can be done in one or more tranches, via Qualified Institutional Placement (QIP) or other modes as permitted by RBI and SEBI, with specific conditions regarding pricing and allotment to mutual funds.
Furthermore, Mr. Tsewang Tharchin, IA&AS (DIN: 11907418), was appointed as a Rotational Director on the Bank's Board. The retirement by rotation of Mr. R.K. Chhibber (DIN: 08190084) was noted, and it was decided not to fill the resulting vacancy at this AGM.
The Chairman highlighted the Bank's aspiration to build a ₹5 trillion business and achieve ₹5,000 crore annual profit by 2030, emphasizing the importance of trust, governance, and technological capability. The MD & CEO reported a record net profit of ₹2,363 crore for FY2025-26, a 13.5% year-on-year growth, with total business reaching ₹2.90 lakh crore. Deposits grew by 11.30% to ₹1.65 lakh crore and gross advances increased by 16.8% to ₹1.25 lakh crore. The Bank crossed the ₹3 trillion total business milestone in June 2026. Asset quality improved with Gross NPA at 2.50% and Net NPA at 0.64%. The Capital Adequacy Ratio reached 16.55%. The Bank also presented its first Integrated Annual Report.
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The Jammu & Kashmir Bank Limited filed this with the NSE as a statutory disclosure, categorised under agm. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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