Bank of Khyber Profits Drop by 6% in 2017

Bank of Khyber (BoK) failed to sustain growth in its profitability similar to other commercial banks and witnessed a decline of 6.8 percent in its profits during the first nine months of 2017 compared to the corresponding period of the previous year.

According to the financial results, the bank posted Rs. 1.375 billion Profit after tax (PAT) for the period ending September 30, 2017.

The bank earnings from the interest income is stable at Rs. 3.46 billion with little growth on year-on-year basis but its revenue streams from non-interest income head reduced to Rs. 1.56 billion.

BoK lending was Rs. 70.611 billion, showing an increase of 96% over year end figure of Rs. 36.054 billion.

During the first nine months of 2017, the bank’s deposits increased to Rs. 161.546 billion. The bank’s total assets reached Rs. 242.022 billion registering an increase of 17% over the year 2016.

The bank was operating with 165 branches wherein 83 branches were functioning as dedicated Islamic Banking Branches. The bank is playing its supportive and aggressive role in achieving the set growth targets along with its participation in the socio- economic uplift of the province.

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