MUZAFFARABAD: The total assets value of the state-run Bank of Azad Jammu and Kashmir (BoAJK) has reached the highest level of Rs27.4 billion in the first six months of the ongoing calendar year, setting a record in 15-year history of the financial institution, an official said.

While presiding over a review meeting at the bank’s head office here on Wednesday, President and Chief Executive Officer Khawar Saeed recalled that the total assets of the bank were worth just Rs13.566 billion at the close of 2019, which swelled to Rs16.819 billion in 2020.

In 2021, the worth of the assets recorded a manifold increase when it touched Rs23.693 billion mark, Mr Saeed said.

He said in the first half of 2022, the asset value had seen an increase of Rs3.71 billion.

A spokesperson for the BoAJK claimed that the state-run financial institution was moving towards progress under the patronage of the AJK government and the Board of Directors, particularly chairman and minister for finance and inland revenue Abdul Majid Khan, and support and trust of customers.

Published in Dawn, September 29th, 2022