PESHAWAR: The assets of Bank of Khyber (BOK) increased by Rs 68 Billion in 2011 showing growth of 35 percent over the assets of 2010, said Bilal Mustafa, Managing Director BOK while addressing 111th Board of Directors (BoD) meeting of the BoK here on Wednesday.
The 111th BOK BoD was chaired by Attaullah Khan Additional Chief Secretary Government of Khyber Pakhtunkhwa and Chairman BoD.
The Board also approved the BoK Accounts for the period ended 31st December 2011 and appreciated the efforts of the management of the bank for increasing the profitability as compared to the previous years.
The Board appreciated efforts of the management on over all growth in all respective operational areas. The Board was informed that during 2011, the BoK advanced Rs 22 Billion, 22 percent higher then the year 2010 which was Rs.18 Billion, while during this period Bank posted record after-tax profit of Rs.872 Million showing increase of 55 percent over 2010.
Bilal Mustafa also briefed the Board on ongoing process of establishment of new branches and new initiatives like procurement of new core banking software. He expressed that the Bank showed deposit figures of Rs.45 Billion recording increase of 23 percent over 2010.
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