BoK’s profit hits Rs638m
PESHAWAR – The Board of Directors of the Bank of Khyber (BoK) held their157th meeting on Thursday at Islamabad to approve the Banks un-audited condensed interim financial statements for the half year ended June 30 2019. The meeting was chaired by Khyber Pakhtunkhwa, Additional Chief Secretary Shahzad Bangash and Chairman BOK Board of Directors.
The meeting was attended by Managing Director BOK Saif Ul Islam, Asad Muhammad, Rashid Ali Khanand and Shaharyar Ahmad. The Bank posted profit before tax of Rs638 million and profit after tax of Rs498 million for the Half year ended June30, 2019.
Earnings per share stood at Rs0.50. During the period, Deposits registered a growth of 14pc closing at Rs195,268 million (December 31, 2018:Rs.171,168 million) whereas advances reached at Rs116,144 million showing an increase of 17pc over the year ended 2018. Investments with a slight decrease stood at Rs91,049 million at the close of the half year 2019.The Banks total assets settled at Rs235,559 million.
The Board showed its satisfaction over the performance and growth in all operational areas of the Bank and approved the Half Yearly accounts for the period ended June 30, 2019. The Chairman emphasised the need to exhibit prudence and take cautious approach and to work with more dedication and devotion as current changes in policy and exchange rates requires extra vigilance on part of the Bank to meet these economic challenges. He further said that the Bank is committed to meet the growing expectations of its loyal and satisfied client-base through its 172 branches all over the country.