PESHAWAR - The Bank of Khyber’s assets increased by Rs 68 billion in 2011, showing growth of 35pc over the assets of 2010, says a Press release.

This was disclosed by Bilal Mustafa, Managing Director BoK, during BoK 111th Board of Directors (BoD) meeting at Civil Secretariat, Peshawar. The 111th BoK BoD was chaired by Attaullah Khan, Additional Chief Secretary Government of Khyber Pakhtunkhwa & chairman BoK BoD. The Board also approved the BoK Accounts for the period ended 31st December 2011 and appreciated the efforts of the management of BoK for increasing the profitability of the Bank as compared to the previous years. The Board also appreciated the efforts of BoK on overall growth in all respective operational areas. The Board was informed that during 2011, BoK advanced Rs 22 billion, 22% higher than the year 2010 which was Rs 18 billion, while during this period Bank posted record after-tax profit of Rs. 872 million, showing increase of 55% over 2010.

Bilal Mustafa also briefed the Board on ongoing process of establishment of new branches and new initiatives like procurement of new core banking software. He expressed that the Bank showed deposit figures of Rs 45 billion recording increase of 23 % over 2010.