NEW DELHI, Dec 26: Shares of Jammu and Kashmir Bank surged by 7.4 percent in Thursday’s trading, reaching an intraday high of Rs 105.44 per share on the BSE. This increase follows the bank’s announcement of Amitava Chatterjee’s appointment as managing director and chief executive officer for a three-year term beginning December 30, 2024.
At approximately 11:32 AM, J&K Bank shares had risen by 4.82 percent to Rs 102.85 per share, compared to a modest increase of 0.07 percent in the BSE Sensex, which stood at 78,528.01. The market cap of the bank was reported at Rs 11,325.66 crore, with the stock’s 52-week high at Rs 152.45 per share and a low of Rs 88.20 per share.
According to the official filing, “The Government of Jammu and Kashmir has appointed Mr. Amitava Chatterjee as Government Nominee Director on the Board of Directors of the Bank, succeeding Mr. Baldev Prakash from December 30, 2024.”
Mr. Chatterjee currently holds the position of deputy managing director at the State Bank of India (SBI) and has previously served as MD & CEO of SBICAPS. With over 30 years of extensive experience in banking across various geographic areas and strategic roles, he has handled significant operations, including leading SBI’s New Delhi and Jaipur Circles, specializing in high-profile clients such as PSUs, NBFCs, and DISCOMs. His responsibilities have encompassed Business Development, Risk & Compliance Management, and HR Functions, alongside engagements in numerous industry and government forums.
He holds a Master’s in Business Administration from ICFAI University in Hyderabad and has completed the CAIIB certification from IIBF. In addition to his professional achievements, Mr. Chatterjee is also an avid sports fan, particularly enjoying tennis, football, and cricket.
Founded in 1938, J&K Bank is a key regional bank in India, headquartered in Srinagar, Jammu and Kashmir. It functions as a universal bank within Jammu & Kashmir and a specialized bank elsewhere in India, holding a strong presence in the northern region, particularly in the Union Territories of Jammu & Kashmir and Ladakh.
Over the past year, J&K Bank’s share price has declined by 21.7 percent, contrasting with a 10 percent rise in the Sensex.
