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Last update: Tue, 09 Feb 2016 04pm

BoK earns Rs 1.2 billion PAT in Q3

The Bank of Khyber (BoK) earned Rs 1.2 billion profit after tax (PAT) in third quarter of the year ended on September 30, as compared to Rs 826 million in corresponding period of 2014. The Board of Directors (BOD) was informed this during 133rd board meeting, here on Monday. The meeting was chaired by Dr Hammad Uwais Agha, Additional Chief Secretary and Government of Khyber Pakhtunkhwa and Chairman BoK Board of Directors.

The meeting was attended by Shams-ul-Qayyum, Managing Director BoK, Ahmad Hanif Orakzai, Secretary Finance of Government of Khyber Pakhtunkhwa and Member BOD Rashid Ali Khan. The board showed satisfaction over the performance and growth in all operational areas of the BoK during the period under review and approved the accounts for the period ended on September 30, 2015. The board was also informed that during the period bank's operating profit was recorded Rs 2.3 billion against Rs 1.4 billion of corresponding period of 2014.

The BoK assets recorded Rs 148.4 billion which were Rs 110.9 billion as on September 2014. While BoK investment (net) recorded Rs 89.6 billion during this period against Rs 64.7 billion of corresponding period of September 2014. Dr Hammad Uwais Agha, Chairman BoK Board appreciated the management for its continued positive performance in almost all areas of its operations and advised them to work with more dedication and devotion to further improve these operational achievements. He advised that we should open more branches as permitted by the SBP as increased network of branches will further improve our operational growth across the country.

He appreciated the efforts of branches in achieving the operational targets and advised the management to guide and support field staff to work more dedicatedly to continue these achievements. He said increased profitability is due to team work at all levels and we can get more good results with collective efforts in all operational areas on regular basis.

Copyright Business Recorder, 2015