BoK earns Rs439m profit for 1st quarter ending March 31, 2021

PESHAWAR: Bank of Khyber has posted Rs439 million profit after tax (PAT) for the 1st quarter ending March 31, 2021.

This was informed during 166th meeting of the Board of Directors of the Bank held on Monday in Peshawar, says a press release. The meeting was presided over by Additional Chief Secretary and Chairman Board of the Board Shakeel Qadir Khan.

Due to the prevailing pandemic, most members attended the meeting via video link, including Atif Rehman, Finance Secretary, government of Khyber Pakhtunkhwa, Maqsood Ismail Ahmad, Javed Akhtar, Asad Muhammad Iqbal, Rashid Ali Khan, Saleha Asif and Managing Director (A) BOK Ihsan Ullah Ihsan.

Despite a nonconducive business environment due to the Covid, the Bank of Khyber has demonstrated good financial performance. An upward trajectory has been witnessed in all the major financial indicators which is the result of a proactive and prudent approach in handling the fallout of the pandemic.

For the quarter ending March 31, the Bank posted Rs653 million profit before tax whereas profit after tax with the decrease of 20% stood at Rs439 million as compared to Rs548 million for the same period of 2020.

With a slight increase from the year ending 2020, deposits and advances stood at Rs214,984 million and Rs142,888 million, respectively. Investments with a minor increase stood at Rs.117,164 million.