PESHAWAR: The Bank of Khyber (BoK) posted a profit of Rs 1.67 billion before tax (PBT) for the period ended on December 31, 2013 showing increase of 6.2 % 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) in 125th meeting of BoK BoD in Islamabad this morning.
The meeting was presided over by Khalid Pervez, Additional Chief Secretary Government of Khyber Pakhtunkhwa & 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 Board 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 Khyber Pakhtunkhwa and rest of the country.
The Board also noted that during the period under review BoK lending was Rs 35.45 billion showing increase of 32.7 % as compared to corresponding period of 2012 which was Rs 26.72 billion.
During the year 2013 the deposit of the bank were Rs 77.22 billion showing increase of 29 % 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 % over year 2012. The Board was informed that with the establishment of 21 new branches during 2013 increased BoK Branches network to record 100 branches which will further increase in 2014.
The Board expressed their confidence over the field staff and Head office supporting team, adding that they have to work with more devotion and diligently to achieve more success in future. The targets of MCR set by the State Bank of Pakistan out of which by December 2013 we achieved Rs 10 billion Paid-up Capital target successfully and remaining we will achieve as and when time comes.
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 & business community with extending loans focused on small & medium enterprises. He said that 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 unfavorable economic conditions across the country especially in our province.
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