JK Bank’s long term Issuer Rating reaffirmed at ‘AA’

Srinagar: India Ratings has reaffirmed J&K Bank’s Long term issuer rating at ‘IND AA’. Instruments with AA rating are considered to have high degree of safety regarding timely servicing of financial obligations and carry very-low credit risk.

Notably, the agency has re-affirmed the rating in view of the Bank’s turnaround in terms of growth, profit, improvement in asset quality, capital infusion and comfortable liquidity position.

Meanwhile, the Bank’s liquidity coverage ratio was 368.69 % at H1 of FY2019, which is over four times the regulatory requirement of 90%.

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