BoK earns Rs1790mn profit for the year 2017

F.P. Report

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.