Bank of Khyber records 96percent growth in Profit in Q1 2016
Islamabad, April 22, 2016 (PPI-OT):The Bank of Khyber (BOK)’earned Rs 605 Million Profit after tax (PAT) its first quarter ended 31st March 2016, showing 96 % growth over corresponding period of 2015. This was informed in the138thmeeting of the Board of Directors (BOD) of BOK held in Islamabad. The meeting was chaired by Muhammad Azam Khan, Additional Chief Secretary, Government of Khyber Pakhtunkhwa and Chairman BoK Board of Directors.
The meeting was attended by Shams-ul-Qayyum, Managing Director and CEO BOK, Ali Raza Bhutta Secretary Finance, Government of Khyber Pakhtunkhwa and Member Board of Directors BoK. The board showed their satisfaction over the performance and record growth in all operational areas of the bank during the period under review and approved the Accounts for the period ended 31st March 2016.
The board was also informed that during the said, period Bank’s operating profit was recorded at Rs. 926 Million showing growth of 22% over the corresponding period of 2015. The bank deposits for the period under review recorded Rs. 133 Billion showing growth of 49% over Rs. 89 billion of corresponded periods of last year. Net advances and lending to financial institutions recorded at Rs. 51 Billion showing cumulative growth of 46% as against Rs. 35 Billion of March 2015.
The BoK assets recorded at Rs 172 Billion showing 42% growth over corresponding period of 2015 which was Rs 121 Billion. While BoK investment (net) recorded Rs 108 Billion showing growth of 44% against Rs 75 Billion of corresponded period of 2015.
Muhammad Azam Khan Chairman BoK Board appreciated the Management for its consistent performance in almost all areas of banking operations and advised them to work with more dedication and devotion to further improve these operational achievements in the time to come. The Chairman appreciated the efforts of branches in achieving the operational targets. He said that increase in profitability is due to team work at all levels and we can get more good results with the collective efforts in all operational areas on regular basis.
For more information, contact:
The Bank of Khyber
24- The Mall, Head Office, Peshawar Cantt.
Tel: +9291 527 2189 and +9291 527 9977
Fax: +9291 527 6838