PESHAWAR - The Bank of Khyber (BoK) has successfully concluded its second Right Issue (R-2) amounting Rs.3.224 billion and has attained the milestone of becoming State Bank of Pakistan (SBP) Minimum Capital Requirement (MCR) compliant bank for the year 2011.
The Banks paid-up capital, after the right issue, stands at Rs8.228 billion. The right shares were traded on the KSE during trading period whereas IP Government being the major shareholder has subscribed its right entitlement as well as taken up the unsubscribed portion of the right issue. Apart from the above, the Bank has shown remarkable results for the half year ended June 30, 2011. The bank has managed to register a pre-tax profit of Rs.705 million whereas after tax profit stood at Rs.460 million. The deposits grew considerably with an increase of 23pc from 36,981 million as of year end 2010 to Rs.45,384 million as of June 30, 2011.
Advances also maintained growth of 16pc over the year ended December 31, 2010. Investments have shown a significant rise from Rs.19,853 million to Rs.29,341 million indicating an increase of 48pc. At present, the bank is operating with 50 branches, 4 sub-branches and 3 booths throughout the country out of which 21 branches are functioning as dedicated Islamic Banking Branches.