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New Delhi Jan. 22 J&K Bank has reported a net profit of Rs 83.89 crore for the quarter ended December 31, 2006.

This represents a 65.66 per cent increase over the net profit of Rs 50.64 crore recorded in the same period in the previous year.

Total income of the bank for the period under review increased by 12.14 per cent to touch Rs 500.96 crore compared to Rs 446.72 crore recorded in October-December 31, 2005.

A statement issued by the bank said that operating profit for the quarter ended December 31increased by 35.91 per cent to 144.15 crore compared to Rs 106.06 crore in the same period in the previous year.

For the nine months period ended December 31,the bank reported a net profit of Rs 229.21 crore on a total income of Rs 1,484.52 crore.

It registered a net profit of Rs 154.06 crore on a total income of Rs 1,340.43 crore in the same period in the previous year.

The total deposits stood at Rs 20,296 crore as on December 31. Advances as on the same date stood at Rs 14,831.18 crore. Net interest margin improved to 3.56 per cent from 2.97 per cent .

More Stories on : Private Banks | Financial Performance

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