Jammu & Kashmir Bank Moat Analysis: Score & Risks
Jammu & Kashmir Bank Ltd.
A first-pass moat teardown of Jammu & Kashmir Bank Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow-to-wide read — primary edge in Price Discretion. Provisional, single-pass evidence.
Jammu & Kashmir Bank Ltd. scores 5.55 on MoatSCORE 6.0 — a narrow-to-wide moat in Banks. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“a conscious decision, for the time being, to focus on higher yielding retail loans in order to compensate the pressure on margins on account of higher cost of deposits due to change in mix”
“Your Bank has remarkably brought down cost-to-income ratio to 66.22% in FY2022-23 from 77.18% in FY2021-22, a visible change of about 1100 bps”
“The brand recognition and the recall of the Bank in this geography is unparalleled, and is truly a household name, convincingly maintaining the market leadership tag with over 65% of the market share.”
“during the FY2021-22, your Bank registered a growth of over 6% in deposits with CASA ratio at 56.85% as of March 2022, which is among the best in the industry.”
“While Brand J&K Bank continues to hold the sway among the people, Bank has ensured to put an effective and efficient communication strategy in place to reinforce the brand recall.”
“During the financial year 2018-19, 36 new branches were established, thereby taking the number of branches to 938 as on 31-03-2019, spread over 20 states and one union territory.”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 6 — at or above 6, consistent with a narrow-to-wide read. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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