BoK posts Rs1306m profit after tax
PESHAWAR-The Bank of Khyber (BoK) posted Rs.1306 million profit after tax (PAT) for the year ended December 31, 2019.
This was informed during 160th meeting of the Board of Directors of the Bank held on March 4, 2020 in Islamabad. The meeting was presided over by Shakeel Qadir, Additional Chief Secretary, Government of Khyber Pakhtunkhwa & chairman of the Bank’s Board.
The meeting was attended by Atif Rehman, Finance Secretary, Government of Khyber Pakhtunkhwa, Maqsood Ismail, Javed Akhtar, Asad Muhammad Iqbal and Rashid Ali. The acting managing director, Ehsan Ullah was also present in the meeting. The Board was pleased to note that during the year 2019, the Bank’s deposits increased to Rs182,168 million whereas investment stood at 146,911 million. An increase of 16% has been witnessed in the net advances of the Bank which soared to Rs.109,742 million as compared to Rs.95,012 million of the previous year 2018.
The Bank’s total assets reached to Rs.306,305 million registering an increase of 37% over year-end 2018. The Board was informed that by the end of year under review, the Bank was operating with 169 branches and 3 sub-branches wherein 84 branches were functioning as dedicated Islamic Banking Branches.
The Board expressed its satisfaction on the annual results and advised the management to work more diligently to achieve the targets and play its proactive role in the socio- economic uplift of the province and the country as a whole.