BoK declares 10pc cash dividend

PESHAWAR (PR): The Bank of Khyber (BoK) operational performance demonstrated record improvement in all areas for the year 2014. This year has been exceptional for the Bank as it has created history by posted an operating profit of Rs.2,135 million as against Rs.1,756 million in the corresponding period last year. The Bank managed to post profit before tax of Rs.1,900 million as against Rs.1,669 million in the corresponding period giving increase of 14%. Profit after tax has recorded an increase of 13% over the corresponding period and reached at Rs.1,309 million from Rs.1,154 million which translates into earnings per share of Rs.1.31 against Rs.1.15 in 2013. Deposit base of the Bank witnessed consistent growth throughout the year and registered an increase of 19% by increasing the figure from Rs.77,218 million of the previous year to Rs.92,264 million as of year end 2014. The gross advances of the Bank also showed an increase of 13% and stood at Rs.43,243 million from Rs.38,339 million of the year 2013. A commendable increase of 36% has been witnessed in the size of investments which showed an amount of Rs.72,431 million as compared to Rs.53,363 million of the last year.Net markup based income of the Bank grew by 15% whereas total non-markup/interest income registered an increase of 54%.

The Board in its 130th meeting held the other day under the chairmanship of Dr. Hammad Owais Agha, Additional Chief Secretary, Government of KPK and participated by Syed Said Badshah Bukhari, Secretary Finance, Government of KPK, Shams-ul-Qayyum, Managing Director and other members, approved Annual Accounts for the year ended December 31, 2014 and payment of final cash dividend of Rs.1/- per shares i.e. 10% to the shareholders of the Bank. These encouraging results were achieved without making compromise on growth of the balance sheet size, management of cost of deposits, improvement in operational efficiencies and without ignoring the asset quality. The Return on Assets (ROA) and Return on Equity (ROE) stood at 1.04% and 10% respectively.

The Bank of Khyber is fully compliant with the Minimum Capital Requirement of the State Bank of Pakistan and the paid-up capital stood at Rs.10.00 billion. The Bank is operating with 116 branches, 2 sub-branches and 2 booths throughout the country out of which 54 branches are functioning as dedicated Islamic Banking Branches. For the current year, the Bank has also received approval from the Central Bank to open 14 new branches in the country.

Olivia Beauty World

LAHORE (PR): Olivia Cosmetics Pakistan, which is also known to be the “Beauty Brand of Film stars”, has launched a special event in leading malls across three main cities of Pakistan by the name of Olivia Beauty World.

The main highlight of this Olivia Beauty World event that started recently in Dolmen Mall Karachi was a new product launched by Olivia cosmetics, the Olivia Hair Removing Cream. Bollywood superstar Bipasha Basu, who is known for her beautiful skin and her glamorous image, has been signed as the brand ambassador of this new product.

“I feel beautiful, smooth skin is most important for every lady who wants to look good and with my personal experience Olivia Hair Removing cream is very effective and safe. I am very glad to be associated with Olivia and am positive this product will be a favorite with the Pakistani women”, said Bipasha Basu.

Olivia Beauty World activity will took place in Dolmen Mall Karachi on 27-28th February and 1st March 2015. As a part of this activity, Olivia not only gave free samples of the newly launched Olivia Hair Removing cream but also offered free makeup sessions and gift hampers to visitors daily. A grand lucky draw also took place at all the event locations with cash prizes worth lacs of rupees.

Olivia is a leader in beauty products category in Pakistan and has various products catering to every beauty need.

 Bollywood stars like Nargis Fakhri and Pakistan’s top actress Mehwish Hayat are also currently the face of Olivia.

Fauji Fertilizer to celebrate FFC Day on 18th

LAHORE (PR): FFC, which started as a fertilizer company with the installation of their first plant Goth Machhi I, has expanded and diversified into other businesses with the passage of time which includes Pakistan’s first ever wind energy project in Pakistan (FFCEL), diversified into the banking sector by holding management shareholdings in Askari Bank and now introducing food preservation technology (Fauji Fresh n’ Freeze) on 20th March 2015.

FFC has a long history of community involvement and its focus of CSR activities including education and health and other social welfare activities is recognized as one of the best Partners in Prosperity of not only its stake holders in the business community but also for the community as a whole.

Recently, FFC has been awarded (SAFA) South Asian award for transparency and corporate governance in South Asia bringing immense pride to Pakistan. FFC has stood first amongst the top 25 companies for consecutive fourth year by Karachi Stock Exchange and is currently one of the highest tax payers of Pakistan.  

According to spokesperson FFC, Waheed Hamid, keeping its rich history stretched over 36 years in mind FFC has now decided to celebrate FFC Day on March 18th, with a view to increase awareness in general public about FFC culture which stands for transparency, corporate governance, best business practices and its obligations towards the community and Pakistan as a whole and to increase bondage and cohesion within.