The J&K Bank in its continued focus on investments in the state has considerably increased its credit portfolio in J&K. During the past three years the business of the bank within J&K has been growing annually by about 35% compared to less than 10% earlier. The credit given by bank within the state is now 45% of total credit portfolio of the bank, as compared to less than 35% in 2005-06. The commercial credit has registered a phenomenal growth of 66% from Rs.3761 crore to Rs.6275 crore in two years. This was stated by Dr. Haseeb A Drabu, Chairman and Chief Executive of the J&K Bank in his address at the 70th Annual General Meeting of the shareholders of the Bank held at SKICC here today. The successful implementation of our JK centric strategy has shown good results, said Dr. Drabu, adding that the credit-deposit in Kashmir region, which was little over 35% in 2006 has crossed 53% in 2008. In Jammu the ratio has increased from 19% to more than 30% during the same period. Emphasizing that the Bank under its new strategy had stressed on customization of products to fulfill the credit requirements of the people engaged in regional sub-economies, Dr Drabu said, "The credit products made by the Bank for agriculture, horticulture, shawl making, Sozni, Khatambhand etc. touched thousands of lives. It is not just adding to business but it is also about changing lives." It is notable that while focusing on J&K state in its renewed business strategy, J&K Bank recorded a net profit of Rs 360 crore in financial year 2007-08, an increase of 31% over the previous financial year's profit of Rs.274.49 crore. The Bank's operating profits were up by over 17% at Rs 651.84 crore at the end of March 2008 as compared to the financial year 2006-07. Total income of the bank increased by 30.09% and was recorded at Rs.2679.24 crore. This includes interest income of Rs.2434.23 crore and other income of Rs.245.01 crore. A new-look J&K Bank website was also dedicated to the shareholders and public on the occasion. Introduction of an 'investor relations link' on the website was highly appreciated by the audience. This would help investors and shareholders to have an update on the Bank's performance, policies and procedures. Meanwhile, Dr Drabu also announced the launch of Bank's emotive campaign "I am listening", emphasizing upon the need to empathize with people to serve them better, he said, "The idea behind the campaign is very simple. We want to give commerce a conscience." Reacting to a series of questions regarding the dearth of ATMs in the rural areas, Dr Drabu announced that J&K Bank plans to install around 150 more ATMs in J&K only. It was unanimously approved in the meeting to pay 155% dividend to the bank's shareholders for the year 2007-08. Among others Bank's Executive Directors Mr A K Mehta and Mr. A M Mir, Secretary to J&K Bank Mr Parvez Ahmed, Directors on the board of J&K Bank, senior officers of the Bank, former directors and executives of the Bank, attended the meeting. A corporate film depicting as to how J&K Bank had been instrumental in empowering people and changing lives was also screened on the occasion. The meeting culminated with a vote of thanks for the J&K Bank family presented by Mr Abdul Majeed Mattoo, a shareholder and former Director on board of the J&K Bank.