PESHAWAR: A meeting of the Board of Directors (BoD) Bank of Khyber was today informed that the bank posted Rs.1790 million profit after tax (PAT) for the year ended December 31, 2017.
The BoD meeting was presided over by Chairman BoD Dr. Shahzad Khan Bangash, Additional Chief Secretary, KP. The meeting was attended by Shakeel Qadir Khan, Finance Secretary, Maqsood Ismail Ahmad, Javed Akhtar, Asad Muhammad Iqbal, Rashid Ali Khan and Shaharyar Ahmad. The acting Managing Director, Muhammad Shahbaz Jameel was also present in the meeting.
The Board was pleased to note that during the year 2017, the Bank`s deposit increased to Rs159,247 million whereas investment stood at Rs140,474 million. A commendable increase of 143% has been witnessed in the gross advances of the Bank which soared to Rs. 87,673 million as compared to Rs. 36,054 million of the previous year 2016.
The Banks total assets reached to Rs. 245,132 million registering an increase of 19% over year-end 2016. The Board was informed that by the end of year under review, the Bank was operating with 166 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.