BOK earned Rs 1.5 billion PAT for the 3rd quarter 2016
ISLAMABAD: The Bank of Khyber (BOK) earned Rs. 1.5 Billion Profit after Tax (PAT) for the nine months period ended September 30, 2016 showing an increase of 22% over the corresponding period of 2015.This was informed to the Board of Directors (BOD) during presentation of 3rd quarterly accounts of the Bank for the period ended September 30, 2016 in its 140th meeting held at Islamabad. The meeting was chaired by Mr. Ali Raza Bhutta, Finance Secretary Government of Khyber Pakhtunkhwa. Apart from other members of the board, the meeting was attended by Mr. Shams-ul-Qayyum, Managing Director, BOK. The Board was also informed that during the period under review, Bank’s operating profit was recorded at Rs. 2.8 Billion against Rs. 2.5 Billion of the corresponding period of 2015. Profit Before Tax increased by 19% to reach Rs. 2.4 Billion as compared to Rs. 2.0 Billion in the corresponding period. With an increase of 24%, the Bank's total assets stood at Rs. 192.0 Billion. Deposits witnessed an increase of 32% and reached Rs.154.8 Billion whereas Investments recorded a significant increase of 49% and stood at Rs. 141.8 Billion. The Board appreciated the Management for the continued positive performance in almost all areas of Bank's operations and advised to work with more dedication and devotion to further improve operational achievements in the time to come. It was observed that further branches should be opened against the SBP approved expansion plan so as to further improve operational growth across the country.