BAJK Reports Record Profit of Rs. 1.414 Billion in Nine Months

The Bank of Azad Jammu and Kashmir (BAJK) has recently made headlines by achieving a remarkable profit of Rs. 1.414 billion during the first three quarters of the current year. This impressive financial performance reflects a growing public trust in the bank and signifies its ongoing efforts to be recognized as a commercial bank. Established in 2006, BAJK has faced challenges and political scrutiny over the years, but its recent achievements indicate a positive shift in its operational effectiveness.

Shahid Mir, the President of BAJK, shared that the bank not only recorded a significant increase in profits but also saw a rise in deposits and assets. The total worth of the bank's assets has reached Rs. 51.279 billion, while deposits have surged to an all-time high of Rs. 31.118 billion. Additionally, home remittances have been recorded at Rs. 3.308 billion during the same period. This growth is a clear indication of the bank's improving financial health and its ability to attract more customers.

Furthermore, BAJK has extended loans amounting to Rs. 4.646 billion to its clients, showcasing its commitment to supporting the local economy. The bank has improved its lending criteria to ensure transparency and a 100 percent recovery rate. By focusing on productive sectors such as tourism, agriculture, and social development, BAJK aims to contribute to the economic growth of the region.

In a bid to enhance healthcare and empower women, BAJK has introduced special loan schemes. These initiatives are part of the bank's broader strategy to play a vital role in the socioeconomic development of the region. The bank has also increased the number of its online branches to better serve its clients, making banking more accessible than ever.

In a significant move, BAJK has launched its first-ever paid internship program, providing valuable opportunities for graduates and postgraduates in the region. This initiative not only helps young people gain practical experience but also contributes to building a skilled workforce for the future.

Moreover, BAJK is committed to creating a healthy society by sponsoring sports activities and engaging in social development projects under its corporate social responsibility (CSR) program. The bank's staff and officers are undergoing training in modern banking tools and skills, ensuring they are well-equipped to meet the demands of the evolving financial landscape.

The Bank of Azad Jammu and Kashmir is on a promising path towards achieving its goal of becoming a recognized commercial bank. With its focus on transparency, community development, and customer satisfaction, BAJK is not only enhancing its financial performance but also contributing positively to the region's overall growth. As the bank continues to innovate and expand its services, it is poised to play a crucial role in the economic development of Azad Jammu and Kashmir.