The Board of Directors of Bank of Khyber (BoK) held their 188th meeting in Islamabad on the other day to review and approve the financial results for the year ended December 31, 2023. The meeting was chaired by Mr. Syed Imtiaz Hussain Shah, Additional Chief Secretary, Government of Khyber Pakhtunkhwa, and Chairman BOK Board of Directors.
The Bank posted historical profits during FY-2023 whereby profit before tax amounted to Rs.6,702 million as against Rs. 920 million last year, while profit after tax was Rs.3,481 million as compared to Rs. 455 million during FY-2022.
The major components of this substantial increase in profitability were the increase registered in both Mark-up / Interest income as well as non-mark-up/interest income during the year. The total assets of the Bank stood at Rs.383,186 million as of December 31, 2023 wherein investments (net) amounted to Rs. 223,348 million and advances (net) stood at Rs. 101,588 million. Deposits of the Bank registered a healthy growth of 16% during FY-2023 and stood at Rs.289,292 million as of December 31, 2023.
