10th March 2009
Srinagar
On the eve of Eid-e-Milad-un-Nabi (SAW), J&K Bank dedicated 12 new business centres, including 8 ATMs and 4 new branch premises.
On the eve of Eid-e-Milad-un-Nabi (SAW), J&K Bank dedicated 12 new business centres, including 8 ATMs and 4 new branch premises, today to the people of the Kashmir Valley. The ATMs were inaugurated at Baghi Ali Mardan Khan, Safa Kadal, Rajouri Kadal, Magam, Bagh-e-Mehtab, Government Medical College, Pakherpora and Natipora. While as, 4 new branch premises were inaugurated at Noorbagh, Nassarullah pora, Bagh-e-Mehtab and Natipora. With this the number of ATMs in the valley has gone up to 111 and 225 in the country
Dr Haseeb A Drabu, Chairman and Chief Executive of the J&K Bank, inaugurated Bagh-e-Mehtab and Pakherpora Branch premises and ATMs. While speaking on the occasion, Drabu said, "J&K Bank is totally insulated from the global financial crisis. J&K Bank is the only bank that is expanding its branch network while as others in the industry are winding up their business units. Our CD ratio was just 20 per cent some years back and today it is over 65 per cent in the valley. This reflects that we have been totally focusing on Kashmir."
"To improve lending in rural and far-flung area, bank is soon going to merge its subsidiaries i.e KRB & JRB into J&K Gramien Bank. This step will ease lending for overall economic development in these areas." He urged the people to come forward with projects, which have the potential, and bank is ready to provide financial support to such projects. "The bank is establishing a financial company which shall be among other things providing financial advisory to the people.
He warned that even as have impact of the global melt down, the coming months are going to be very hard times and we will see many people going jobless. He said, "Our inherited industry like carpet is under tremendous threat and the weavers will have no other option but to shift to other vocations. As against sale of 1,85000 carpets in the global market, this year we have been able to sell just 12000 carpets and this is simply the adverse impact of global melt down. To support the weavers in such situation, the bank is devising a plan to provide financial support to the people associated with the trade. "
Speaking on the occasion Parvez Ahmad, President of the bank and Zonal Head Kashmir Central Zone said that the opening of ATMs reflect a strong commitment and desire on the part of Bank's management to expand its reach, particularly in J&K state and upgrade its quality of customer service in a cost effective manner. He further added that J&K Bank has invested around Rs. 200 crore in Information Technology and is all set to leverage the investment for Business Development and Processes and to provide international quality financial services and solutions to customers of the Bank.
City Mayor Salman Sagar inaugurated ATM at Safakadal and banks new branch premises at Noorbagh. College Principal Dr. Shahida Mir inaugurated the ATM at Government Medical College. Distrct Development Commissioner, Meraj Ahmed Kakroo inaugurated new bank premises and ATM at Natipora. Secretary Waqf Board and Principal Islamia College inaugurated the ATMs at Bagi-Ali-Mardan and Rajouri Kadal respectively.
J&K Bank Executive Director, Abdul Majid Mir, Senior President, Ajit Singh and Vice President, Khursheed Ahmad Pandit were present on the occasions.
Dr Haseeb A Drabu, Chairman and Chief Executive of the J&K Bank, inaugurated Bagh-e-Mehtab and Pakherpora Branch premises and ATMs. While speaking on the occasion, Drabu said, "J&K Bank is totally insulated from the global financial crisis. J&K Bank is the only bank that is expanding its branch network while as others in the industry are winding up their business units. Our CD ratio was just 20 per cent some years back and today it is over 65 per cent in the valley. This reflects that we have been totally focusing on Kashmir."
"To improve lending in rural and far-flung area, bank is soon going to merge its subsidiaries i.e KRB & JRB into J&K Gramien Bank. This step will ease lending for overall economic development in these areas." He urged the people to come forward with projects, which have the potential, and bank is ready to provide financial support to such projects. "The bank is establishing a financial company which shall be among other things providing financial advisory to the people.
He warned that even as have impact of the global melt down, the coming months are going to be very hard times and we will see many people going jobless. He said, "Our inherited industry like carpet is under tremendous threat and the weavers will have no other option but to shift to other vocations. As against sale of 1,85000 carpets in the global market, this year we have been able to sell just 12000 carpets and this is simply the adverse impact of global melt down. To support the weavers in such situation, the bank is devising a plan to provide financial support to the people associated with the trade. "
Speaking on the occasion Parvez Ahmad, President of the bank and Zonal Head Kashmir Central Zone said that the opening of ATMs reflect a strong commitment and desire on the part of Bank's management to expand its reach, particularly in J&K state and upgrade its quality of customer service in a cost effective manner. He further added that J&K Bank has invested around Rs. 200 crore in Information Technology and is all set to leverage the investment for Business Development and Processes and to provide international quality financial services and solutions to customers of the Bank.
City Mayor Salman Sagar inaugurated ATM at Safakadal and banks new branch premises at Noorbagh. College Principal Dr. Shahida Mir inaugurated the ATM at Government Medical College. Distrct Development Commissioner, Meraj Ahmed Kakroo inaugurated new bank premises and ATM at Natipora. Secretary Waqf Board and Principal Islamia College inaugurated the ATMs at Bagi-Ali-Mardan and Rajouri Kadal respectively.
J&K Bank Executive Director, Abdul Majid Mir, Senior President, Ajit Singh and Vice President, Khursheed Ahmad Pandit were present on the occasions.