PESHAWAR - The Bank of Khyber (BoK) posted Rs1.789 billion profit after tax (PAT) for the period ended December 31, 2015, showing increase of 37% over the corresponding period of 2014, when PAT was Rs1.309 billion.

The Board of Directors approved payment of cash dividend of 12.5% from reserves available for appropriation in the 136th meeting of the Board of Directors. The meeting was presided over by Muhammad Azam Khan, Additional Chief Secretary, Government of Khyber Pakhtunkhwa and chairman BoK Board of Directors. Shams-ul-Qayyum, Managing Director, BoK, and the Secretary Finance, KP were also present in the meeting. The private sector was represented by Maqsood Ismail Ahmad and Javed Akhtar.

The year 2015 has witnessed improvements in all areas of banking operations. The bank posted a record operating profit of Rs3.538 billions against Rs2.135 billion in the corresponding period last year. An impressive increase of 56% has been witnessed in profit before tax which stood at Rs2.958 billion as compared to Rs1.900 billion of the corresponding period.

The total asset base of the bank grew up to Rs155 billion from Rs.126 billion registering healthy growth of 23%. Deposit base of the bank witnessed consistent growth throughout the financial year 2015 and was reported at Rs117billion, showing healthy increase of 27% over the year 2014.