Jammu & Kashmir Bank, a private sector bank, has appointed Fayaz Ahmad Ganai as its new Chief Financial Officer (CFO), starting from April 16, 2024. The appointment, announced to the stock exchanges in line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is set for a three-year term.
With over 15 years of experience in major corporate and financial institutions, Fayaz is a seasoned chartered accountant. His career includes a significant focus on finance, corporate and retail credit, accountancy, balance sheet management, and taxation, including income tax and GST. He has spent the past five years in senior management roles.
This strategic appointment follows a robust financial showing by Jammu & Kashmir Bank, which reported a 35.13% increase in its net profit to Rs. 421.08 crore for the third quarter of the fiscal year 2023-24. The bank also saw a 14.18% rise in total income to Rs. 3,063.30 crore during the same period.
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Fayaz’s extensive financial expertise is expected to enhance the bank’s financial management and support its strategic growth endeavors.
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