Parvez Ahmed launches the JK Bank’s stakeholders Connect Series

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Former Chairman M Y Khan visits J&K Bank Headquarters for Management interaction

 

Srinagar March 30: J&K Bank Chairman and CEO Parvez Ahmed today launched the Bank’s stakeholders Connect Series in which the bank as mark of gratitude will invite all the present and legacy stakeholders of the Bank who have been instrumental in creating and strengthening the Brand Equity journey of the Bank; for interaction & knowledge sharing with the current management team of the Bank. Under the initiative Parvez Ahmed today welcomed the bank’s former Chairman M Y Khan for a one-to-one interaction with bank’s Executive Presidents, Presidents and Vice Presidents here in the M Y Khan Hall.

Acknowledging the humbling gesture of the Bank’s leadership, Mohammed Yusuf Khan reiterated his emotional relationship with the bank and shared his experience and some of the landmark moments of his time, like bringing the state government employees within the banking fold, acquisition of the residential flats at Delhi and Mumbai, the building of corporate headquarters.

He recalled an interesting interaction he had with the Civil Service Officers at Dehradun when the bank was at a nascent stage of computerization in which the participants enquired about the rapid growth of J&K Bank and he had remarked that it was the result of introduction of  ATM in the bank. Surprised at this response he was told that other banks too were introducing ATMs but they were not growing at that rate. He responded that the ATM introduced by him was altogether different from others’ ATMs because what he meant by ATM was Accountability, Transparency, and Merit.

Commending the transparency and sustained profitability focus of the Bank’s current management under the leadership of Parvez Ahmed, he said, “Parvez Ahmed and his team is doing it well”, further adding, “the people at J&K Bank work hard and have always carried forward the legacy of delivering their best in the challenging times. The people at the operational level have always surpassed the expectations of the management and that is the intrinsic strength of the bank which I am glad is being nurtured by the Bank’s management.”

He said that the personal touch that the employees of this bank bring to their service is also acknowledged by the peers in the industry. He highlighted the statement that the interest of the employees of the bank was always paramount for him. He believed that it was not the technology nor the products that were the strength of the bank but the people working in the bank and the rich legacy of their profound commitment was the real strength of the bank.

Expressing his trust in the bank, M Y Khan Said, “Given its efficient leadership with transformative zeal coupled with a committed human capital, I have full faith that J&K Bank will be one of the leading banks of the country in the next few years.”

Earlier the Chairman & CEO Parvez Ahmed while welcoming the ex Chairman described him as a visionary leader who transformed the bank as a very strong bank with state of the art infrastructure at par with any leading private sector bank in the country. The Chairman said,” His innovative, out of the box strategy leveraging the core strength of the Bank’s relationship with its promoter the state government catalysed exponential growth in the Bank’s business from a modest 4600 Cr to 33000 Cr during his tenure with improvement in net worth by a whopping 850% which is the fountainhead of bank’s growth till date”.

“The maiden public issue brought under his tenure not only shored up the paid capital of the bank but also created huge value for the local shareholders further strengthening the emotional equity with the people of the state. The Bank has been able to sustain during turbulent times riding on the strength of unlocking the value of strategic investment made by M Y Khan during tie up with one of the strongest brand in the life insurance sector at that time M/S Metlife International.” added   Parvez Ahmed. He also touched upon the moments when he had joined the organization as Company Secretary for its maiden public issue while M Y Khan was the Chairman of the bank and the mentoring & handholding he received under his tutelage.

The senior management shared their experiences while working with M Y Khan. Unanimous in their views they acknowledged that the bank had undergone a paradigm shift in its functionality and the benchmarks set by him were unprecedented and historic. They also highlighted the rapport Ex-Chairman had developed with the major business houses of the country.

In his concluding remarks, M Y Khan said that he had faith in the leadership of Parvez Ahmed as the Chairman & CEO of the bank and urged the senior management to extend full support to the Chairman in his efforts to strengthen the bank further and to take it to newer heights. The event he added was an emotional moment for him to address the senior management in the hall named after him.

On the occasion, M Y Khan visited the Digital Lobby setup at the Apex Branch in the Corporate Headquarters and appreciated the steps taken on the technological front. Later M Y Khan along with Chairman and CEO Parvez Ahmed, Zonal Head Tabassum Nazir also visited the bank’s ladies’ only business unit at Jawahar Nagar . He commended the Chairman for establishing state-of-the-art business unit exclusively for the women.