PESHAWAR: Managing Director Bank of Khyber (BoK) Javed Hashmat has said that the Bank was laying great stress on low cost of deposit to increase its profitability as big entities are not giving much profit.
Talking to APP here, Mr. Hashmat while dilating upon performance of the first quarter of the Bank ended march 31, 2013, said, the BoK is progressing with each passing day as its growth rate increasing considerably, adding the profit of the Bank would be certainly more than Rs.1 billion profit shown last year. "Certainly bank's performance viz a viz deposits and advances will be more than the previous year", he told.
Mr. Hashmat, who has 35 years plus banking to his credit, said that profit of return from the small and medium enterprises was more than the big entities that is why we are focusing on promoting the SMEs.
Giving details of unaudited advances made by the bank in the first quarter, he said it stood at Rs.262.81 million as on March 31, 2013 similarly the deposits are Rs.569.72 million during the same period.
The bank achieved Rs.310200 profit after tax in the first quarters which was Rs.250956 in 2012.
To a question, MD BoK said that the provincial economy need deep and decisive fiscal and energy sector reforms and an early realization of planned foreign financial inflows to mitigate uncertainty.
He said the BoK's current paid up capital stands at Rs. 9 billion and it will be increased to Rs.10 billion by the end of 2013.
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