Business

PESHAWAR (Online) – The Bank of Khyber (BOK) earned Rs 1.021 billion Profit After Tax (PAT) during the first half of 2016, showing 44% growth over the PAT of the corresponding period of 2015 which was Rs 0.710 billion.

This was discussed at the Board of Directors meeting held at Islamabad and chaired by Chairman BOK Board of Directors Muhammad Azam Khan that was also attended by Managing Director BOK Shams-ul-Qayyum, Secretary Finance KPK Ali Raza Bhutta & and other officials.

The Board expressed satisfaction over the performance and growth across all operational areas of the Bank during the period under review and approved the Accounts for the period ended 30th June 2016.

The Board was also informed that during the period Bank’s operating profit was recorded at Rs 2.109 billion showing growth of 31% over Rs 1.610 billion of a corresponding period where assets grew to Rs 175 billion showing 23% rise over a corresponding period where asset were Rs 142 billion as on June 2015.

The BOK investment recorded Rs 106 billion registering a growth of 28% against Rs. 83 billion of corresponding periods of 2015. Chairman BOK Board Muhammad Azam Khan appreciated the Management for its continued positive performance.

The Chairman appreciated efforts of all branches towards the achievement of operational targets and advised the Management to guide & support field staff to work more dedicatedly. He said growth in profitability is due to teamwork.

The Chairman BOK said that Rs. 1.021 billion profit after tax in the half year shows the confidence of general public on BOK policies and its vital role for socio-economic uplift across the country.