17th October 2012
Srinagar
J&K Bank bags prestigious CNBC TV18 India Best Bank and Financial Institution Award <BR><i>"Best Bank" in the "Old Private Sector Bank" category – Survey</i>
In recognition of its performance and initiatives, J&K Bank has emerged as the "Best Bank" in the "Old Private Sector Bank" category at the CNBC TV18 India Best Bank and Financial Institution Awards for FY12. The distinction of being the "Best Bank" in the "Old Private Sector Bank" category has been accorded to J&K Bank by a panel of distinguished jurors comprising of Mr. JagdishCapoor, former Deputy Governor Reserve Bank of India, former Chairman of HDFC Bank and former Chairman of BSE, Mr. A. K. Purwar, Chairman of IndiaVenture Advisors Pvt. Ltd & former Chairman of State Bank of India, Mr. H. N. Sinor, CEO, Association of Mutual Funds of India, former CEO, Indian Banks Association and former Managing Director of ICICI and Mr. M. V. Nair, former Chairman, Union Bank of India. Initially KPMG conducted a robust and rigorous scoring process for all the Banks and Financial Institutions. KPMG is one of the leading professional services firms in the world in addition to being one of the esteemed members of the Big-4 auditors, along with PwC, Deloitte, and Ernst & Young. Headquartered in Amstelveen, Netherlands, KPMGis the third best company in the top ten audit companies of the year 2011. KPMGoffers three basic services – Tax, Audit, and Advisory. KPMG ranked the Banks and Financial Institutions on the basis of criteria's like growth, profitability, capital ratios and even softer qualities like investor relations / customer care. In the next stage the Banks and Financial Institutions short-listed by KPMG were examined by the jury who after a marathon debate decided the winner for each category.
Mr. Mushtaq Ahmad, Chairman & CEO, J&K Bank received the coveted trophy at the hands of Dr. C. Rangarajan, Chairman of the Prime Minister's Economic Advisory Council at a grand function held in Mumbai today.
"The Award is the recognition of our past performance and an inspiration for future, Mushtaq Ahmad said. Dedicating the Award to all the stakeholders of the Bank Mushtaq said, "The award is result of the hard work of our employees and the trust and confidence reposed in us by our customers, investors and all other stakeholders".
Pertinently, J&K Bank has undertaken a massive expansion plan and has set for itself an ambitious business target of Rupees One Lac Crore and a profit target of Rupees One Thousand Crore by financial year ending March 2013, which coincides with platinum jubilee year of the Bank.
This is the second edition of the CNBC TV18's India Best Bank and Financial Institution Awards. Given the rigorous selection process, the eminent jury and the calibre of winners, the awards have become a benchmark for excellence in the field of banking and finance in the country.
Mr. Mushtaq Ahmad, Chairman & CEO, J&K Bank received the coveted trophy at the hands of Dr. C. Rangarajan, Chairman of the Prime Minister's Economic Advisory Council at a grand function held in Mumbai today.
"The Award is the recognition of our past performance and an inspiration for future, Mushtaq Ahmad said. Dedicating the Award to all the stakeholders of the Bank Mushtaq said, "The award is result of the hard work of our employees and the trust and confidence reposed in us by our customers, investors and all other stakeholders".
Pertinently, J&K Bank has undertaken a massive expansion plan and has set for itself an ambitious business target of Rupees One Lac Crore and a profit target of Rupees One Thousand Crore by financial year ending March 2013, which coincides with platinum jubilee year of the Bank.
This is the second edition of the CNBC TV18's India Best Bank and Financial Institution Awards. Given the rigorous selection process, the eminent jury and the calibre of winners, the awards have become a benchmark for excellence in the field of banking and finance in the country.