PESHAWAR: The Bank of Khyber earned Rs1.5 billion profit after tax (PAT) for nine months ending Sept 30, 2016 showing an increase of 22 per cent over the corresponding period of 2015.

This was stated by the board of directors during presentation of the third quarterly accounts of the bank for the period ended Sept 30, 2016 in its 140th meeting held at Islamabad.

The meeting was chaired by Ali Raza Bhutta, finance secretary Government of Khyber Pakhtunkhwa. Apart from other members of the board, it was also attended by BoK MD Shamsul Qayyum.

The board was informed that during the period under review, the bank’s operating profit was recorded at Rs2.8 billion against Rs2.5 billion of the corresponding period of 2015. Profit before tax increased by19 per cent to Rs2.4 billion compared to Rs2 billion in the corresponding period of 2015. With an increase of 24 per cent, the bank’s total assets stood at Rs192 billion.

Deposits witnessed an increase of 32 per cent and reached Rs154.8 billion whereas investments recorded a significant increase of 49 per cent and stood at Rs141.8 billion.

The board appreciated the management for the positive performance in almost all areas of the bank’s operations and called for working with more dedication to improve upon the operational achievements. It was observed that more branches should be opened so as to improve the bank’s operational growth across the country.

Published in Dawn October 26th, 2016