New Delhi: In a strategic leadership move, Jammu and Kashmir Bank Ltd has appointed Mr. Ketan Kumar Joshi as its Chief Financial Officer (CFO) with effect from July 17, 2025. Mr. Joshi takes over from Mr. Fayaz Ahmad Ganai, who has now ceased to hold the CFO position at the bank.
An Accomplished Banking Professional
Mr. Joshi brings over two decades of experience in the financial sector across domestic and international banking institutions. Prior to joining J&K Bank, he served as Chief Financial Officer at North East Small Finance Bank Ltd (NESFB) from August 2019 to June 2024.
During his tenure at NESFB, Mr. Joshi played a pivotal role in several critical financial and operational transformations, including:
- Successfully selling a Rs. 535 crore stressed portfolio to an Asset Reconstruction Company (ARC), effectively strengthening the bank’s balance sheet.
- Leading the initial merger process of a Bangalore-based fintech with NESFB.
- Raising Rs. 97 crore in equity through private placement, onboarding marquee foreign investors.
- Overseeing the core banking migration from FIS PROFILE to BSG TURING platform in coordination with the IT team.
- Ensuring capital adequacy aligned with business growth and facilitating regulatory-compliant equity dilution.
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Strong Foundations in Financial Strategy
Before NESFB, Mr. Joshi held senior positions in top-tier banking institutions:
Deputy Vice President – Head, Finance & Accounts, at IndusInd Bank Ltd (2008–2011), where he arranged Tier II and Upper Tier II bonds, liaised with the RBI and auditors, and managed CRR/SLR compliance.
Senior Vice President at Bank of Tokyo-Mitsubishi UFJ Ltd, Mumbai (2011–2012), where he headed the Accounts Department and was a member of the Operational Risk Management Committee, also overseeing treasury policy and risk initiatives.
Leadership Transition at a Strategic Time
The leadership change comes at a critical juncture as Jammu and Kashmir Bank sharpens its focus on financial health, regulatory compliance, and strategic capital management. Mr. Joshi’s proven track record in risk mitigation, capital raising, portfolio management, and digital transformation is expected to align well with the bank’s future roadmap.
About J & K Bank
Jammu & Kashmir Bank Limited (J&K Bank), incorporated on 1 October 1938 by Maharaja Hari Singh, is one of India’s oldest private‑sector scheduled commercial banks headquartered in Srinagar. Designated by the Reserve Bank of India as its exclusive agent for conducting government banking for the Union Territories of Jammu & Kashmir and Ladakh, the Bank holds over 60% market share in that region and serves 2.10 crore accounts (1.25 million customers) as of March 2025. It offers retail, agriculture, MSME and corporate lending plus digital banking services. In FY 2023–24 it recorded a record net profit of ₹1,767 crore, with GNPA down to ~4%
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