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The Bank of Khyber (BoK) has achieved the target of minimum capital requirement (MCR) set by the State Bank of Pakistan (SBP) for all commercial banks of the country for the year 2011. The bank in this regard has issued right shares worth Rs 3.224 billion, which reached the target limit of the paid up capital of Rs 8.228 billion by the bank.
It has fulfilled the condition of minimum paid up capital, which is a landmark achievement of the bank. BoK flouted the shares through Karachi Stock Exchange (KSE), which is a confidence in the major shareholding by Khyber Pakhtunkhwa and other shareholders. According to the statistics, by the end of the second quarter of the calendar year 2011, the bank earned a profit of Rs 705 million before tax and Rs 460 million after tax.
The deposits of the bank have been increased by 23 per cent with reaching the deposits to Rs 45.348 billion, which were Rs 36.981 million last year. Similarly, the investment of the bank has increased by 48 percent. Last year, the investment was Rs 19.853 billion, which has now climbed to Rs 29.341 billion.
The bank has a network of 50 branches, four sub-branches and three booths all over the country while 21 branches are providing the facility of Islamic banking system. By the end of the current calendar year the bank is going to open 12 more branches in different cities of the country, which will raise the tally of the network of the branches to 62.

Copyright Business Recorder, 2011

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