Small Business

JK Bank net profit rises 19%

Jammu and Kashmir (J&K) Bank has posted over 19 per cent rise in net profit at Rs 139.99 crore for the third quarter of 2009-10 on the back of high non-interest income. The bank had registered a net profit of Rs 120.67 crore in the same quarter last year, a J&K Bank spokesman said today. Operating profit increased by 31 per cent during the same period. - KVB net profit jumps 28% - City Union Bank net up 26.55% - Bank of Maharashtra net down 7% - Syndicate Bank net dips 42.6% to Rs 205.72 cr - RCom Q3 Net falls 19% to Rs 1,165 cr - Great Offshore Q3 net dips 14% to Rs 49 cr Income earned by the bank other than interest doubled to Rs 95.81 crore during the quarter under review from Rs 39.39 crore earned in the quarter ended December 2008. The boost in the income came primarily from earnings on commission or exchange and profit on investments, he added.

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