Bank of Azad Jammu and Kashmir’s total assets reach all-time high

MUZAFFARABAD: Bank of Azad Jammu and Kashmir’s total asset value has reached the highest level of Rs 27.4 billion which is a record in the last 15 years history of the financial institution. During the first half of 2022, the assets increased by Rs 4 billion.

While presiding over a review meeting held at the head office on Wednesday, Khawar Saeed, the President and Chief Executive Officer of the Bank, said that in the first half of 2022, the total assets of the bank increased by Rs 4 billion. The value of assets has reached an all-time high of Rs 27.4 billion, while last year’s assets reached a level of Rs 23.7 billion with a multi-fold increase.

It is worth mentioning here that in the year 2019, the total assets of the bank were only Rs 13.566 billion, which increased to Rs 16.819 billion in 2020, further increased to 23.693 billion rupees in 2021, and in the first half of 2022, the asset value reached the highest level of Rs 27.4 billion.

Sources say that the financial institution moving towards the progress under the patronage of the AJK Government, Board of Directors, especially Chairmanship of Khan Abdul Majid Khan, under the supervision of Khawar Saeed, the President of the Bank and team work, day and night work of the staff and with the support of customers the targets have been achieved.

According to the spokesperson of the Bank, the multifold increase in the value of total assets is a reflection of the progress of the bank and the full confidence of the customers.

Copyright Business Recorder, 2022