Q1FY25: BoK PAT surges 108pc YoY
PESHAWAR: The Bank of Khyber (BoK) reported an impressive performance for the first quarter of financial Year 2025 (Q1FY25), with its Profit After Tax (PAT) rising sharply by 108 percent year-on-year (YoY) to reach Rs 1.6 billion.
The Bank's Net Markup/Interest Income (NII) surged by 45 percent YoY to Rs 5.1 billion, reflecting robust balance sheet management and successful reduction in funding cost achieved during the period. Non-markup/interest income also recorded significant growth, rising by 64 percent YoY to Rs 900 million, mainly driven by gain on securities amounting to Rs 521 million.
Operating expenses rose by 15 percent YoY to Rs 2.7 billion, reflecting increase in employee and other administrative costs reflecting the impact of inflation and overall increase in activities of the Bank. As a result of the strenuous recovery efforts and prudent lending strategy followed by Management, the Bank achieved net reversal of provision for Rs 118 million, compared to the net provision of Rs.190 million in the same period last year.
Going forward the Bank will continue its emphasis on sustainable profitability, asset quality improvement and diversification of portfolio through proactive management strategies.
Copyright Business Recorder, 2025
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