The Bank of Khyber (BoK) posted Rs 1.67 billion profit before tax (PBT) for the period ended December 31, 2013, showing an increase of 6.2 percent of PBT over the corresponding period of 2012, which was Rs 1.57 billion. This was stated by Imran Samad, Acting Managing Director BoK, while briefing BoK Board of Directors (BoD) during the 125th meeting in Islamabad on Wednesday.
The meeting was presided over by Khalid Perez, Additional Chief Secretary, Government of Khyber Pakhtunkhwa, and Chairman BoK BoD. The 125th BoD was attended by Syed Said Badshah Bukhari, Secretary Finance of Khyber Pakhtunkhwa, Dr Ehsan-ul-Haq, Sajjad Ahmad, Maqsood Ismail and Asad Muhammad Iqbal apart from Rahat Gul Chief Financial Officer of BoK.
The BoDs appreciated the efforts of the BoK Management and staff for their dedication and devotion to achieve the desired goals for the betterment of Bank and its vital role in socio-economic development of the KP and rest of the country.
The Board was pleased to note that during the period under review BoK lending was Rs 35.45 billion showing increase of 32.7 percent against corresponding period of 2012, which was Rs 26.72 billion. During the year 2013, the BoK deposit was Rs 77.22 billion showing increase of 29 percent over Rs 60.04 billion of corresponding periods of 2012, which shows the confidence of masses on BoK. The Bank's total assets reached to Rs 108.17 billion with an increase of 32 percent over year 2012. The Board was informed that with the establishment of 21 new branches during 2013, BoK network increased to record 100 branches which will further increase in 2014.
Imran Samad, Acting MD BoK declared 2014 as "Year of Excellence" to ensure efficient services to the customers, with a touch of professionalism and to facilitate trade and business community with extending loans focused on small and medium enterprises. He said due to increase in branches network, "we could attract more clientage which would alternatively help us to grow our deposit and advance base."
The Board appreciated the remarkable operational achievements in spite of unfavourable economic conditions across the country especially in KP.
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