Creation of new business zones a strategic decision: JK Bank CEO

SRINAGAR: The Chairman and CEO of J&K Bank, Mushtaq Ahmad, on Tuesday said the creation of four new zones was a “strategic decision” aimed at improving “operational efficiency”.
The bank has reorganised its zonal structure in Jammu and Kashmir by creating four more business zones, two each in Kashmir and Jammu divisions, taking the total number of zones to 11.
In a handout issued here, the bank’s Chairman the decision was a part of “thinking process” going on in the bank at the top level to “innovatively address” the priority challenges.
“The decision is guided by our strategic outlook that stems from our vision for future, both in terms of consolidation and intensification of business and expansion of physical footprint of the organisation,” he said.
“The decision is a beneficial complement to a host of other strategic decisions that we have taken to achieve our business objectives, improve customer service, enhance competitiveness, and better administrative supervision and control,” he said.
The existing structure of zones, as per the statement, was set up in 2007 when the bank’s size and business was “roughly half of what it is today”.
“The main business centres of J&K—district Srinagar and district Jammu—will henceforth be separate zones. Likewise, Anantnag, Kulgam, Udhampur, and Reasi will now onwards be separate zones,” the bank announced.