Bank of Khyber registered a stellar financial performance as its profit crossed Rs. 1 billion, up by a staggering 142% in the first half of 2020 year-on-year.
According to financial disclosure, the public sector bank’s profit grew to Rs. 1.206 billion from January to June 2020 as compared to a profit of Rs. 498 million recorded in the same period of the last financial year.
The bank earned handsome incomes from its interest-based margins and non-markup based revenues which stood at Rs. 3.23 billion and Rs, 2.32 billion respectively.
It has played an active role in the second quarter of 2020, providing support to businesses including relief and incentivized schemes which were introduced to combat the economic slowdown after COVID-19 on the businesses and the industries. Despite the pandemic, the bank maintained its operations throughout the country with prescribed SOPs facilitating its customers with the needed borrowing support and other banking services.
Bank of Khyber is focusing on increasing its customer base and mobilizing a cost-effective deposit mix with an emphasis on prudent lending to maintain a trend of stable profitability. The bank is operating with 169 branches and 3 sub-branches throughout the country out of which 84 branches were functioning as dedicated Islamic Banking Branches.