PESHAWAR: The Bank of Khyber (BoK) earned Rs. 605 million profit after tax (PAT) its first quarter ended 31st March 2016, showing 96pc growth over corresponding period of 2015.
This was informed in the 138th meeting of the Board of Directors (BoD) of BoK held in Islamabad.
The meeting was chaired by Muhammad Azam Khan, Additional Chief Secretary, Government of Khyber Pakhtunkhwa & Chairman BoK Board of Directors.
The meeting was attended by Shams-ul-Qayyum, Managing Director & CEO BoK, Ali RazaBhutta Secretary Finance, Government of Khyber Pakhtunkhwa and Member Board of Directors BoK.
The Board showed their satisfaction over the performance and record growth in all operational areas of the bank during the period under review and approved the Accounts for the period ended 31st March 2016.
The Board was also informed that during the period bank's operating profit was recorded at Rs. 926 million showing growth of 22pc over the corresponding period of 2015.
The BoK deposits for the period under review recorded Rs. 133 billion showing growth of 49pc over Rs. 89 billion of corresponding periods of last year.
Net advances and lending to financial institutions recorded at Rs. 51 billion showing cumulative growth of 46pc as against Rs. 35 billion of March 2015.
The BoK assets recorded at Rs. 172 billion showing 42pc growth over corresponding period of 2015 which was Rs 121 billion.
While BoK investment (net) recorded Rs. 108 billion showing growth of 44pc against Rs. 75 billion of corresponded period of 2015.
Muhammad Azam Khan Chairman BoK Board appreciated the Management for its consistent performance in almost all areas of banking operations and advised them to work with more dedication and devotion to further improve these operational achievements in the time to come.
The Chairman appreciated the efforts of branches in achieving the operational targets.
He said that increase in profitability is due to team work at all levels and we can get more good results with the collective efforts in all operational areas on regular basis.
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