Jammu & Kashmir bank - wikipedia Jammu & Kashmir bank The Jammu and Kashmir Bank limited Bank logo Native name جموں و کشمیر بنک ‎ Type Semi-Government Traded as NSE : J&KBANK, BSE : 532209 Industry Banking, Financial services Founded 1 October 1938 Headquarters Srinagar, Jammu and Kashmir, India Key people Parvez Ahmad ( Chairman & CEO ) Products Credit Cards Mortgage loans Services Consumer Banking Corporate Banking Financial Services Private Banking Cash Management Mobile Banking Revenue ₹ 68.21 billion ( US $1.1 billion ) ( 2015 -- 16 ) Operating income ₹ 116 billion ( US $1.8 billion ) ( 2015 -- 16 ) Net income ₹ 32.55 billion ( US $510 million ) ( 2015 -- 16 ) Total assets ₹ 420 billion ( US $6.5 billion ) as on 31 March 2016 Total equity ₹ 49.06 billion ( US $760 million ) ( 2012 -- 13 ) Number of employees 9400 as on 31 March 2013 Website www.jkbank.net Jammu and Kashmir Bank ( J&K Bank ) is an Indian public sector banking and financial services company. It is a State - owned bank with its headquarters in Srinagar, Jammu and Kashmir. J&K Bank, incorporated on October 1, 1938, was the first bank in the country to emerge as a state -- owned bank Contents 1 History 2 Income 3 Profile 4 Network 5 References 6 External links History The Jammu and Kashmir Bank was founded on 1 October 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, Hari Singh. The Raja had invited the eminent investors to become the founding directors and shareholders of the bank. The most notable of which were Pandit Sriniwas Magotra, Abdul Aziz Mantoo, Pesten jee and the Bhaghat Family, all of whom acquired major shareholdings. The bank commenced the banking business on 4 July 1939 and was considered 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. In year 1971, the bank had acquired the status of a scheduled bank and was declared as an `` A '' Class bank by the Reserve Bank of India in 1976. The bank had to face serious problems at the time of independence when out of its total of ten branches two branches of Muzaffarabad, Rawalakot and Mirpur fell to the other side of the line of control ( now Pakistan - administered 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. Income The bank celebrated its platinum jubilee in the year 2013. To make the year remarkable, the bank achieved a total business of Rs 1000 billion and earned a net profit of Rs 10 billion. On 1 April 2013 the bank surpassed the target of promised Rs 1000 billion business and is confident of meeting its other annual targets as well in its Platinum Jubilee year. On 15 May 2013, bank announced that it has achieved the target of promised Rs 10 billion profit for the FY 2012 -- 13. The bank posted net profit of Rs 10551 million and business turnover of Rs 1034 billion for the FY 2012 -- 13. In its Platinum jubilee year, the banks board of directors recommended special dividend of 500 % or Rs 50 per share for 2012 -- 13. Profile J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country. It is also the only private sector bank designated as RBI 's agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT. It is the sponsoring bank of J&K Grameen Bank. Network The bank 's corporate headquarters is in Srinagar near TRC ( Tourist Reception Centre ). The bank has a network of 865 computerized bank branches and 1126 ATMs across the country as on 17 August 2017. References Jump up ^ `` The Jammu & Kashmir Bank Ltd ''. NDTV Profit. Jump up ^ About Jump up ^ JKB Jump up ^ Customer relationship management in j & k bank, p. 4, 5 Jump up ^ Jammu and Kashmir Bank achieves Rs one lakh crore business -- Economic Times. Articles.economictimes.indiatimes.com ( 1 April 2013 ). Retrieved on 6 December 2013. Jump up ^ JK Bank vaults Rs1 lakh cr biz target Lastupdate : - Tue, 2 Apr 2013 18 : 30 : 00 GMT. Greaterkashmir.com ( 2 April 2013 ). Retrieved on 6 December 2013. Jump up ^ J&K Bank Q4 net profit up 20 % at Rs 250cr. Moneycontrol.com. Retrieved on 6 December 2013. Jump up ^ JK Bank crosses Rs 1000 crore profit mark Lastupdate : - Thu, 16 May 2013 18 : 30 : 00 GMT. Greaterkashmir.com ( 16 May 2013 ). Retrieved on 6 December 2013. Jump up ^ J&K Bank posts 20.16 % increase net profit ; announces 500 % dividend -- Moneylife. Moneylife.in. Retrieved on 6 December 2013. Jump up ^ `` Grameen Bank, sponsored by J&K Bank ''. www.jkgb.in. Retrieved 2016 - 03 - 04. Jump up ^ `` ATM network increasd ''. Retrieved 17 October 2017. 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Question: number of branches of jammu and kashmir bank
Answer: 865