Srinagar: The Kashmir Economic Alliance Chairman Muhammad Yasin Khan has hailed the Chairman J&K Bank Parvez Ahmed for over seven-fold jump in its net profit at Rs 214.80 crore in the fourth quarter of the fiscal ended March 2019.

In a statement, Khan who also heads the Kashmir Traders and Manufacturers Federation (KTMF) said it was a significant development for the state of Jammu and Kashmir in general and the business community in particular.

He hailed, in particular, the performance of CEO Parvez Ahmed in making the bank scale new heights of success.

Khan said the performance of the bank can even improve further if it is kept away from politicization. “J&K Bank is the collective asset of all the people of Jammu, Kashmir, and Ladakh and it has been providing quality services to the people in general and business community in particular and we need to safeguard it for the collective economic prosperity,” Khan said.

Khan said the people of the state treat the bank as their collective asset which needs to be separated from politics.