March 27, 2007	Tuesday	Rabi-ul-Awwal 7, 1428

PESHAWAR, March 26: Bank of Khyber is offering its Rs200.20 million shares through right issue to increase the paidup capital up to Rs4 billion by end of this year to comply with the directives of the State Bank of Pakistan (SBP).

According to a statement issued here on Monday, the right issue will be offered at Rs12.75 per share (inclusive of a premium Rs2.75).

The proceeds from the right issue are planned to be utilised for the purpose of opening new branches including 10 Islamic banking outlets in the province besides revamping of consumer finance business segment with a view of making consumer loans at least 10 per cent of total loan portfolio in the next five years.

Moreover, enhancing agricultural franchise to maintain the bank’s market share in this important sector of the NWFP, upgrading its technology platform, especially banking services delivery including via ATMs and internet banking are some of the other steps to be taken in future.

The bank will further enhance its ongoing back office operations automation as well as its corporate MIS on a real time basis. The bank also plans to focus on SME Finance and Micro Credit and to enhance the Human Resource Development and training capabilities both at management as well as general staff level, the statement said.