J&K Bank appoints Fayaz Ganai as CFO

Srinagar, Apr 16: Jammu & Kashmir Bank, a major private sector lender, announced the appointment of Fayaz Ahmad Ganai as its Chief Financial Officer (CFO) for a three-year term, effective from April 16, 2024.

The bank informed the stock exchanges about Ganai’s appointment in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ganai, a qualified chartered accountant, brings with him over 15 years of experience in large corporate and financial institutions, including five years in senior management roles. His expertise spans finance, corporate and retail credit, accountancy, balance sheet management, and taxation (income tax/GST, etc.).

The appointment comes as Jammu & Kashmir Bank reported a 35.13% year-on-year increase in its standalone net profit to Rs. 421.08 crore for the third quarter of the financial year 2023-24 (Q3 FY24). The bank’s total income also rose by 14.18% to Rs. 3,063.30 crore during the same period.

With Ganai’s extensive financial experience and the bank’s strong financial performance, the appointment is expected to further strengthen Jammu & Kashmir Bank’s financial management and strategic growth initiatives.