Bank in safe zone as worst now behind us, Bank poised for strong profitability: Chairman to Staff
“We are an 80 years old agile bank with a young & vibrant human capital which has under the mentorship of the seniors toiled relentlessly to navigate the bank in turbulent times in the banking industry which precipitated into a loss of Rs 1632 Cr in FY 2016-17 & was one of the worst times in the history of the Bank. I can now conclusively say that the Bank is in safe zone with worst now behind us and poised for a strong profitability on a sustained basis going forward. We have a big responsibility being the bank of maximum outreach with systemic importance for the economy of the state and I am glad that team JK Bank has demonstrated an exceptional character by making the fastest turnaround with seven consecutive quarters of profitability up to Dec 2018. ”
This was stated by the Chairman & CEO JK Bank Parvez Ahmed while addressing the staff of the Bank in the farewell function organized by the officers of the Bank to bid adieu to Executive President (HR) Abdul Rashid Sheigan on attaining the age of superannuation. The function, which was also attended by the bank’s Executive Presidents R K Chhibber, P K Tickoo; Presidents, Vice Presidents, Zonal Heads and other senior officers of the bank, was presided over by Parvez Ahmed.
” Though there was a lot of pessimism when we plunged into the loss in 2017 due to burgeoning NPAs catalyzed by overall degradation of banking environment coupled with legacy of NPAs in our balance sheet, J&K Bank arose like a Phoenix due to the indomitable spirit of the human resources of the Bank. We reoriented our strategy and prepared a Board approved medium term business plan which is being executed and the results over the last few quarters are as per the projected trajectory in the business plan. I can assure that we are well on course to achieve our targeted profit of Rs 2000 Cr in FY 2022” asserted Parvez Ahmed with his characteristic ebullience and optimism amidst thumping applause from the staff & management of the Bank.
“We were provided generous guidance, mentorship and handholding by all the stakeholders including our promoters the government of J&K but the sheet anchor of the implementation of our strategy has been the Bank’s human resources which I have time and again affirmed as the real strength of this organization. It is this human resource that takes the organizations to great heights, both internally and externally, in fact everywhere,” said the Chairman J&K Bank.
Eulogizing the services of the superannuating Executive President Parvez Ahmed added, “Sheigan Sahib who has been a very important member of my team is attaining the age of superannuation and bidding farewell to all of us. I have found him as an outstanding professional and his personal qualities; his pious, religious nature and his sense of belonging to the institution have particularly inspired me. His illustrious career span and remarkable journey in this organization at all the levels and almost whole of the geographical foot print of the bank in a quiet manner is an inspiration for all. He has always taken any task offered to him hands-on and his solutions-oriented approach is unparallel. He has spear headed numerous profiles in his 37 year long service with simplicity, humility, integrity and dedication. In his latest stint at Corporate Headquarters he has deeply impressed all and one with his indefatigable capacity to deliver in his diverse roles of first in Credit department and subsequently in HRD, Corporate Communication, CSR, Brand Strategy and Disciplinary. Till today he has been spearheading the banks recruitment drive which is currently underway.”
Executive President P K Tickoo who also spoke on the occasion said, “The very conduct of A R Sheigan Sahib has been humility personified. I have learned a lot during my association with him in different capacities as a friend and a loving colleague.”
“Sheigan Sahib has set very high standards of commitment and efficiency for the staff in general and his senior colleagues in particular. I wish him and his family well and hope that he continues to guide us in informal ways post-retirement”, said the Executive President R K Chhibber.
Earlier, Executive President A R Sheigan got emotional expressing his gratitude towards what he called the ‘great modern institution from J&K’.
Evoking warmth and admiration simultaneously from the audience on the occasion, he asserted, “People do work for companies and earn their livelihood to take care of their families and friends. But what we have been doing here at J&K Bank is to either help almost every second person of the state to earn a dignified livelihood or manage and increase his wealth. We move beyond it also when we help those living on the margins of our state economy and try to bring them into the social mainstream.”
“It is in this context, I feel an immense sense of gratitude and belonging towards this great institution, its leadership especially Chairman Parvez Ahmed and my associates in the management band. Also, I would like to thank all of my colleagues in the bank for their love and support; I will cherish all the earnings and learnings that this beloved bank afforded me since I joined it more than three decades ago”, said Sheigan in his concluding remarks.
The audience gave an emotional adieu to A R Sheigan and wished him well for a healthy post-retirement life.