BoK earns Rs705mn profit before tax

RECORDER REPORT

PESHAWAR: The Bank of Khyber (BoK) earned Rs. 705 million profit before tax for the period ended June 30, 2012, stated by Bilal Mustafa, Managing Director BoK in his key note address at BoK Raast Islamic Banking Branches operational Performance Review Manager’s Conference held on Saturday in Saidu Sharif Swat.

The conference attended by Mir Javed Hashmat, Executive Director BoK, Imran Samad Group Head Credits, Kamran Masood Khan, Group Head Islamic Banking, Muhammad Tariq Nasim, Group Head HRD apart from Divisional Heads from Head Office and Chief Managers and Manager of Raast Islamic Banking Branches through the country. Bilal Mustafa lauded the growth in all operational areas of the BoK during first half of 2012 and expressed his confidence over the field staff and Head Office supporting team, adding that we have to work with more devotion and diligently to achieve the various operational targets for 2012. He said that due to increase in branches network, we could attract more clientage which would alternatively help us to grow our deposit and advance base.

The BOK total deposits as on June 30, 2012 are Rs. 54 billion shows 20 percent growth as compared with December 2011 and BoK total assets of Rs.70 billion, which shows the confidence of the general public and institutions over the services of BoK, he maintained.

The Managing Director said that BoK Raast Islamic Banking Group progressing quite efficiently as in 2008 we were having only 16 Islamic Banking branches across the country and as of today we are having 31 branches and by the end of this year we will be having 36 Islamic Banking branch in out of total network of 78 branches and this number will further grow with passage of time.

Mir Javed Hashmat, Executive Director in his address said that professionalism is a key to success and presently in financial sector the competition required that we should be services oriented financial institution in order to achieve the desired goals.

He also advised the branch managers that they should pass on Head Office instruction to their respective staff as it is always a team effort to achieve.