BoK earns Rs 548 million profit after tax for 1Q

The Bank of Khyber (BOK) posted Rs548 million profit after tax (PAT) for the 1st quarter ended 31st March 2020. This was informed during the 161st meeting of the Board of Directors of the Bank held on May 20, 2020 in Peshawar. The meeting was presided over by Shakeel Qadir Khan, Additional Chief Secretary, Government of Khyber Pakhtunkhwa, and Chairman of the Bank's Board.

In the current circumstances of COVID-19, the members attended the meeting via a video link. Atif Rehman, Finance Secretary, Government of Khyber Pakhtunkhwa, Maqsood Ismail Ahmad, Javed Akhtar, Asad Muhammad Iqbal and Rashid Ali Khan attended the meeting. The acting Managing Director, Ihsan Ullah Ihsan, was also present.

In the backdrop of COVID-19, the Bank of Khyber has managed to show good results and posted Rs548 million profit after tax for the first quarter of the year 2020 as compared to Rs187 million for the same period of 2019.

The deposits settled at Rs158,666 million whereas with a slight increase from the year ended 2019, advances stood at Rs116,756 million.

Investments were at Rs150,742 million. The Bank's total assets settled at Rs299,860 million. The Board was informed that the Bank was operating with 169 branches and 3 sub-branches wherein 84 branches were functioning as dedicated Islamic Banking branches.

The Board expressed its satisfaction over the 1st quarter results and advised the management to work more diligently to achieve the targets and play its proactive role in the socioeconomic uplift of the province and the country as a whole.-PR