BAJK profit increases to all-time high

MUZAFFARABAD: The profit of Bank of Azad Jammu and Kashmir (BAJK) increased from Rs 13 crore to Rs 45 crore in less than two years. During this period, the total assets of the bank increased from Rs 13 billion to Rs 27.5 billion, deposits increased from 11.9 billion rupees to 20.8 billion rupees.

Home remittances increased from Rs 863 million to Rs 4.25 billion. Advances worth Rs3 .25 billion have been provided to consumers for the promotion of business activities in the State of AJK.

While releasing data based on business results was on the occasion of the 75th raising day, the spokesperson of the bank said that the institution is playing an important role in the Socio-economic development of the state, the spokesman said.

Copyright Business Recorder, 2022