The Bank of Khyber (BoK) has declared Rs 776 million profit after tax for the half year ended June 30, 2018. This was revealed during the 151st meeting of the BoK's Board of Directors (BoD), chaired by Dr. Shahzad Khan Bangash, BoD's chairman who happens to be Khyber Pakhtunkhwa government's additional chief secretary. The meeting was attended by Muhammad Shahbaz Jameel, acting Managing Director BoK, Shakeel Qadir khan, KP's Finance Secretary, Maqsood Ismail, Javed Akhtar, Asad Muhammad Iqbal and Shaharyar Ahmad.
According to a press statement issued here, the Bank's earning from core business actively increased mainly due to increase in advances coupled with increase in policy rate. The markup/interest income was higher by Rs 402.61 million as compared to June 2017.
The advances of the Bank grew significantly reaching Rs 92,168 million showing 10% increase. Deposits improved to Rs 170,126 million while investment decreased to Rs 96,502 due to return of borrowing from other Banks and offloading of some government securities.
The Bank's total assets settled at Rs 213,687. The BoD expressed its satisfaction over BoK's performance and growth in all operational areas and approved the accounts for the period ended June 30, 2018. The chairman emphasized the need to work with more dedication and devotion to further improve the profitability and the image of the Bank. He further said that these results show the confidence of general public in the Bank which is playing a vital role for socio-economic uplift of the province.
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