Transcript of Concall held on October 22, 2026

Jammu and Kashmir Bank Limited Corporate Headquarters T +91 (0)194 248 3775 W www.jkb.bank.in M A Road, Srinagar 190001 Kashmir, India F +91 (0)194 248 1928 E board.sectt@jkbmail.com CIN: L65110JK1938SGC000048 Board Secretariat Ref:-JKB/BS/F3652/2026/178 Date: 27th October, 2026 National Stock Exchange of India Limited The BSE Limited Exchange Plaza 5th Floor Phiroze Jeejeebhoy Towers Plot No. C/1 G-Block Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (E) Mumbai – 400 051 Scrip Code:532209 Symbol: J&KBANK Sub:- Transcript of Conference Call held on October 22, 2026 Dear Sirs, In continuation to our letter no. JKB/BS/F3652/2026/172 dated October 22, 2026 and pursuant to Regulation 30 and 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of the Conference Call held on October 22, 2026 by the Bank in relation to the Reviewed Financial Results of the Bank for the Quarter and Half Year ended September 30, 2026 is enclosed and the same is also available on the website of the Bank under following link: https://jkb.bank.in/investor/stockExchangeIntimation/investorrelations This is for your information and appropriate dissemination. Thanking you Yours faithfully For Jammu and Kashmir Bank Limited Mohammad Shafi Mir Company Secretary “Jammu & Kashmir Bank Limited Q2 FY27 Earnings Conference Call” October 22, 2026 MANAGEMENT: MR. AMITAVA CHATTERJEE – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – JAMMU & KASHMIR BANK LIMITED MR. SUDHIR GUPTA – EXECUTIVE DIRECTOR – JAMMU & KASHMIR BANK LIMITED MR. IMTIYAZ AHMAD BHAT – CHIEF GENERAL MANAGER – JAMMU & KASHMIR BANK LIMITED MR. ASHUTOSH SAREEN – CHIEF GENERAL MANAGER MR. RAJESH MALLA TIKOO – CHIEF GENERAL MANAGER – JAMMU & KASHMIR BANK LIMITED MR. PEER MASOOD AHMAD – DEPOSIT AND LIABILITY MANAGEMENT HEAD – JAMMU & KASHMIR BANK LIMITED MR. SANJAY GUPTA – RAM BANKING HEAD – JAMMU & KASHMIR BANK LIMITED MR. SURESH KUMAR CHOWDHARY – CORPORATE BANKING HEAD – JAMMU & KASHMIR BANK LIMITED Page 1 of 15 Jammu and Kashmir Bank Limited October 22, 2026 MR. TARIQ ALI – IMPAIRED ASSETS PORTFOLIO MANAGEMENT HEAD – JAMMU & KASHMIR BANK LIMITED MR. ALTAF HUSSAIN KIRA – CHIEF RISK OFFICER – JAMMU & KASHMIR BANK LIMITED MR. AJAY KOHLI – TREASURY HEAD – JAMMU & KASHMIR BANK LIMITED MODERATOR: MR. AVINASH SINGH – EMKAY GLOBAL FINANCIAL SERVICES LIMITED Page 2 of 15 Jammu and Kashmir Bank Limited October 22, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Jammu and Kashmir Bank Q2 FY27 Earnings Conference Call hosted by Emkay Global Financial Services Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Avinash Singh from Emkay Global Financial Services Limited. Thank you, and over to you, Mr. Singh. Avinash Singh: Thank you, Sidhant. Good afternoon, everyone. I would like to welcome the management and thank them for this opportunity. We have with us today Mr. Amitava Chatterjee, Managing Director and CEO and his management team. I shall now hand over the call to Mr. Amitava Chatterjee for his opening remarks. Over to you, sir. Amitava Chatterjee: Thank you, Avinash. A very good afternoon, and a warm welcome to all the investors, analysts and other stakeholders joining us today for the J&K Bank September 2026 Earnings Call. Before we discuss the results, let me introduce my fellow colleagues from the bank's senior management who are accompanying me on this call. Executive Director, Mr. Sudhir Gupta; Chief General Managers, Mr. Imtiyaz Ahmad Bhat; Mr. Ashutosh Sareen; and Mr. Rajesh Malla Tikoo; Deposit and Liability Management Head, Mr. Peer Masood Ahmad; RAM Banking Head, Mr. Sanjay Gupta; Corporate Banking Head, Mr. Suresh Kumar Chowdhary; Impaired Assets Portfolio Management Head, Mr. Tariq Ali; Chief Risk Officer, Mr. Altaf Hussain Kira; and our Treasury Head, Mr. Ajay Kohli. The geopolitical uncertainties which persisted in the first quarter of the current financial year have continued to mar the global economy in Q2, following the reescalation of conflict in West Asia, which has driven energy prices sharply higher leading to inflationary concerns and increased volatility across financial markets. However, despite these persistent geopolitical challenges, the Indian economy has posted a robust growth of 7.8% during Q1, driven by domestic consumption and investment. This resilient performance has led to a sharp upward revision of India's GDP growth forecast for 2026-27 by IMF to 7% from 6.4% earlier. This resilience in the domestic economy is also reflected in the Bank's business momentum with the Bank's total business growing by 19.4% Y-o-Y to INR3.10 lakhs crores as on 30th September 2026. The Y-o-Y growth across both deposits and advances has been healthy at 16.3% and 23.7%, respectively. The profitability has also improved after a subdued performance in the first quarter, with the net profit for the quarter being recorded at INR546 crores, a sequential jump of almost 29% and a double-digit Y-o-Y growth as well. Page 3 of 15 Jammu and Kashmir Bank Limited October 22, 2026 On the credit side, in alignment with the Bank's strategic positioning as a retail-focused bank, as emphasized during the Q1 call, the Bank has recorded a sequential growth of 7.62% in Agricultural Advances and 3.90% in Retail Advances, underscoring the tangible progress made in execution. The entire net incremental growth during the quarter has been contributed by Retail, Agriculture and MSME loans, that is RAM. And this growth has been contributed by both Jammu, Kashmir, Ladakh and Rest of India in almost equal proportions to their share in the Bank's outstanding RAM loans. On a YTD basis, more than 60% of the Bank's net incremental credit has been contributed by RAM portfolio. Within RAM, Bank has registered a Y-o-Y growth of around 17% in Agricultural Advances, with a double-digit YTD growth for the first half year. Auto loans continue to be the best- performing segment amongst retail loans with a Y-o-Y growth of over 25%, doing well both in Jammu, Kashmir, Ladakh as well as Rest of India. Housing loans in Rest of India division also continued to grow at a healthy pace, recording a double-digit Y-o-Y growth. On the deposit front also, the bank has already achieved a YTD growth of around 7% against our guidance of 10% for the financial year with the growth in Term Deposits continuing to outpace the growth in CASA in line with the continuing industry trend. However, the gap between the growth in Term Deposits and CASA Deposits has narrowed down in this quarter as the bank has been able to record positive CASA inflows during this quarter, after a sharp outflow in Q1. As a result, Bank has been able to broadly maintain its CASA ratio at the same level of around 42%, being recorded at 41.97% as on 30th September 2026. Now, coming to profitability, the Bank has recorded an operating profit of INR789 crores for the quarter, registering a 27% Y-o-Y growth and a 12% Q-o-Q growth. Even on a half year basis, the Bank has recorded a Y-o-Y growth of over 15% in Operating Profit, being recorded at INR1,492 crores for the first half year of the current fiscal. While the operating income for this quarter has grown by over 6% sequentially and 14.5% Y-o-Y, the increase in operating expenditure continues to be controlled at just 2% Q-o-Q and 6.5% Y-o-Y, contributing towards improved profitability for the quarter. As a result, Cost-to-Income Ratio of the Bank for this quarter has also moderated substantially on both sequential and Y-o-Y basis, being recorded at 56.57% for the quarter. Yield on advances has remained broadly flat on a sequential basis, being recorde [Showing first 8,000 characters — download PDF for full document]