October 21, 2016 / 12:02 IST
Centrum has come out with its second quarter (July-September) earnings estimates for the Financials sector. The brokerage house expects
J&K Bank to report net profit at Rs 77.4 crore, up 238.3 percent quarter-on-quarter.
Net Interest Income is expected to increase by 0.7 percent Q-o-Q (down 8.2 percent Y-o-Y) to Rs 637.2 crore, according to Centrum.
Centrum's report on J&K Bank
We expect the bank to report QoQ improvement in NII. On a YoY basis, NII though is expected to decline 8% YoY. We expect the bank to continue focusing on its home state while withdrawing from the rest of India region.
The move, we believe, will aid in NIM improvement as well. We like J&K Bank for its franchise, market share in home state and capital position. Net profit, thus at Rs774mn is set to decline 61% YoY.
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