PESHAWAR: The Bank of Khyber (BoK) has shown remarkable performance during the first half of the current year.

The bank managed to post a pre-tax profit of Rs969 million against Rs823 million of the corresponding period of 2013 showing an increase of 18 per cent, according to a press release issued here on Sunday.

According to the release, profit after tax (PAT) stood at Rs634 million, showing over 15 per cent increase over the corresponding period.

The bank’s deposits grew by nine per cent from Rs77 million as of December 31, 2013 to Rs84 million on June 30, 2014. Likewise, investments showed a healthy rise of 13 per cent from Rs53 million to Rs60 million in the same period.

In the same period, the bank’s paid-up capital stood at Rs10 billion, while it met the minimum capital requirement of the State Bank by December 31, 2013.

The BoK is operating with 101 branches, two sub-branches and two booths throughout the country, out of which 44 branches are functioning as dedicated Islamic banking branches. The bank is in the process to open 16 new branches by 2014 end for which the central bank has already gave its consent.

Published in Dawn, September 15th , 2014