Bank of Khyber Reports 28% Profit Growth Before Tax

PESHAWAR - The Bank of Khyber has recently announced impressive financial results, showcasing a remarkable growth in profit before tax. This announcement comes after the bank's Board of Directors convened for their 195th meeting at the bank’s head office in Peshawar. The meeting was chaired by Ikramullah Khan, who serves as the Additional Chief Secretary of the Government of Khyber Pakhtunkhwa and is also the chairman of the Board of Directors.

For the nine-month period ending September 30, 2024, the Bank of Khyber reported a profit before tax of Rs6.016 billion. This figure represents a significant increase compared to Rs4.682 billion recorded during the same period last year. Additionally, the profit after tax for the same period was reported at Rs2.599 billion, up from Rs2.473 billion in the previous year. These figures indicate a strong financial performance and a positive trajectory for the bank.

The bank's total income for the nine-month period also saw a substantial rise, reaching Rs13.347 billion compared to Rs11.146 billion during the same period in 2023. This growth in income is a clear indicator of the bank's effective strategies and operational efficiency.

The Board of Directors expressed their satisfaction with the bank's performance and approved the financial statements for the nine-month period. They emphasized the importance of maintaining the same level of dedication and commitment from the management and staff in achieving the bank's goals and objectives.

The Chief Financial Officer and Acting Managing Director highlighted that these positive results are a reflection of the robust oversight provided by the Board of Directors, as well as the sincere efforts and teamwork exhibited by the bank's employees and management. He also extended his gratitude to all stakeholders for their continued support and patronage.

The Bank of Khyber's impressive financial results not only demonstrate its strong market position but also reflect the hard work and dedication of its team. As the bank continues to grow and adapt to the changing financial landscape, it remains committed to serving its customers and stakeholders with excellence. This growth story serves as an encouraging example for other financial institutions in the region, highlighting the importance of strategic planning and teamwork in achieving success.