Bank of Khyber Reports Mid-Year Financial Results for 2024

Peshawar: The Bank of Khyber has announced its financial results for the six-month period ending June 30, 2024. The results reflect a stable performance with significant figures in both earnings and expenditures.

The financial summary shows a net mark-up/interest income of 4.06 billion rupees after accounting for mark-up/interest expensed, which totaled 12.76 billion rupees. The Bank’s total income reached 4.20 billion rupees, supported by non-mark-up/interest income of 346.38 million rupees, which includes fees, commission income, and foreign exchange gains.

Despite the steady income, the Bank reported total non-mark-up/interest expenses of 2.56 billion rupees, primarily due to operating expenses. Notably, the provision for credit losses and other write-offs amounted to 82.03 million rupees, reflecting a cautious approach to potential credit risks.

Profit before taxation stood at 1.93 billion rupees, while profit after taxation amounted to 760.13 million rupees, marking a period of robust financial health amidst challenging economic conditions. The basic and diluted earnings per share were reported at 0.66 rupees.

According to information available from the Pakistan Stock Exchange (PSX), the Bank’s performance aligns with industry norms, despite not declaring dividends, bonus shares, or rights shares for the period. This decision comes as part of the Bank’s strategic financial management practices aiming to reinvest earnings and strengthen its capital base.

The Bank of Khyber continues to uphold its commitment to providing stable and secure banking services to its customers, reflecting a prudent management approach during the first half of 2024.

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