The Biz Reporter
Srinagar, May 7: J&K Bank’s total lending portfolio toward the tourism sector stands at a modest 1%, indicating limited financial exposure despite recent security challenges in the region.
This was confirmed in the wake of the recent Pahalgam terror attack, with the bank’s CEO Amitava Chatterjee assuring stakeholders that the incident would not impact the bank’s operations or financial health.
Speaking to the press, Chatterjee emphasized that the bank maintains a diversified portfolio, minimizing risks linked to any one sector, including tourism. “Our exposure to the tourism industry is very minimal, confined to only 1% of our total portfolio. This strategic balance helps us remain resilient amid regional uncertainties,” he said.
The Pahalgam terror attack, which raised concerns over tourism and regional stability, had sparked fears about potential fallout on businesses tied to the sector. However, J&K Bank’s limited exposure and robust risk management practices are expected to shield it from significant adverse effects.
J&K Bank continues to play a critical role in driving economic growth in Jammu & Kashmir through financing various sectors, focusing on balanced growth and sustainability.
