JKBFSL crosses Rs 400 crore mark in mutual fund assets

Excelsior Correspondent

SRINAGAR, July 16: JKB Financial Services Limited (JKBFSL), the wholly-owned subsidiary of J&K Bank, has crossed the Rs 400 crore milestone in Mutual Fund Assets Under Management (AUM).
The achievement was celebrated today during a special function held at the JKBFSL corporate office here.
J&K Bank MD & CEO Amitava Chatterjee, who also chairs the JKBFSL Board, presided over the event.
Bank’s Executive Director Sudhir Gupta, General Managers Narjay Gupta and Syed Rais Maqbool, along with JKBFSL MD Syed Aadil Bashir Andrabi were present on the occasion, along with other senior officers from both the Bank and JKBFSL.
Congratulating the JKBFSL team, MD & CEO Amitava Chatterjee described the milestone as a reflection of the growing trust customers have in Brand J&K Bank.
He said, “JKBFSL is a key pillar in the growth journey of J&K Bank. With the Bank’s backing and brand strength, JKBFSL has the potential to achieve much more in the financial services sector.”
Chatterjee appreciated the company’s progress but also urged the team to tap into the large potential in mutual fund investments, especially across Jammu and Kashmir, Ladakh, and other parts of the country.
He also praised the technological advancements made by the company, especially the user-friendly trading application.
Executive Director Sudhir Gupta lauded the performance of JKBFSL, saying the subsidiary had shown significant progress across all key financial parameters during the current financial year.
He expressed confidence that JKBFSL will continue its strong growth in the coming years.
JKBFSL MD Syed Aadil Bashir highlighted that in the past fifteen months, the company has doubled its AUM, increased trading volumes, reduced cost-to-income ratio, and expanded its digital offerings.
The event concluded with a vote of thanks, with a collective commitment from the team to further strengthen the performance of both the Bank and its subsidiary.

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