J&K Bank - 4QFY2013 Result Update - Angel Broking

J&K Bank reported healthy operating performance for the quarter, which came largely on expected lines, however, on the asset quality front, it faced moderate pressures during the quarter. While, NII grew by 23% yoy, non-interest income grew by 71% (possibly aided by the booking of Metlife stake sale, during the quarter) and hence, growth in operating profit was strong at 29% yoy.

On the asset quality front, the bank witnessed pressures during the quarter, as their gross and net NPA levels were sequentially higher by around 11% each and hence, the provisioning expenses for the bank more than doubled on a yoy basis and earnings grew at a moderate pace of 20% yoy.

Source : Equity Bulls

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