The Bank of Khyber (BoK)'s achieves record Rs 872 million after-tax profit in 2011, which shows increase of 55 per cent more then corresponding period of 2010. This was disclosed by Bilal Mustafa, Managing Director BoK during the 111th Board of Directors (BoD) meeting at Civil Secretariat, Peshawar, says a press release issued on Tuesday.
The BoK meeting was chaired by Attaullah Khan Additional Chief Secretary Government of Khyber-Pakhtunkhwa (KPK) & Chairman BoK BoD, apart from Sahibzada Saeed Ahmad Secretary Finance Government of KPK & Member, Mir Javed Hashmat Executive Director BoK, Members, Maqsood Khan, Muhammad Asif, Maqsood Ismail, Amjad Pervez and BoK Chief Financial Officer Rahat Gul.
The Board also approved the BoK Accounts for the period ended December 31, 2011 and appreciated the efforts of Bilal Mustafa MD for increasing the profitability of the bank as compared to previous years. The board also appreciates the efforts of bank on over all growth in all respective operational areas. The Board was informed that during 2011, BoK advanced Rs 22 billion, which 22 per cent more then advanced amount in 2010 which was Rs 18 billion, while during this period Banks assets registered growth of Rs 68 billion, showing increase of 35 per cent over the corresponding period.
Bilal Mustafa also briefed the Board on on-going process of establishment of new branches and mentioned that with increased net work of branch across the country during 2011, Bank deposits was Rs 45 billion, showing increase of 23 per cent over the 2010 and further informed the Board with increased network of branches will further improve the BoK clientage base across the country and will play its due role in socio-economic developmental activities of their respective areas, with enhanced business growth of the Bank.-PR
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