BoK posts Rs1.1 billion profit for 3rd quarter 2011

ISLAMABAD: The Bank of Khyber (BoK) has recorded profit before tax of Rs1.1 billion for 3rd quarter ended on September 30, which shows increase of 188 percent over the corresponding period of last year.

This was disclosed in the 109th Board of Directors (BoD) meeting held here on Friday.

The meeting was chaired by Attaullah Khan Additional Chief Secretary Government of Khyber-Pukhtunkhwa and Chairman BOK BoD, apart from Sahibzada Saeed Ahmad Secretary Finance Government of Khyber Pukhtunkhwa & Member BOK BOD, Mir Javed Hashmat Executive Director BOK, Maqsood Khan, Muhammad Asif, Maqsood Ismail and Amjad Pervez.

The Board also approved the BoK accounts for the period of 3rd quarter ended on September 30 and appreciated the efforts of the management of BOK for increasing the profitability and other results of the Bank as compared with previous years.

The Board also appreciated the efforts of BOK on over all growth in all respective operational areas.

Bilal Mustafa also briefed the Board on ongoing process of establishment of new branches and informed the Board with increased network of branches the connectivity will improve the BOK clientage across the country.

He explained the Branch Expansion Plan and informed that by the year end 2011, the Bank will close its network at 62 branches across the country, whereas Bank plan to open 13 branches more to obtain the figures of 75 branches by 2013 with the approval of State Bank of Pakistan.

Copyright APP (Associated Press of Pakistan), 2011