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BoK assets swell to Rs 17bn

RECORDER REPORT

PESHAWAR: The assets of Bank of Khyber (BoK) have increased to Rs. 17 billion.

This was stated by BoK Managing Director, Sajid Ali Abbasi at the 23rd board of director's meeting at the bank's head office.

The meeting was chaired by NWFP Additional Chief Secretary, Ejaz Ahmad Qureshi, who is chairman of the BoK board of directors.

Sajid Ali Abbasi informed the board that the BoK is now a Rs. 17 billion assets bank and is playing its due role in balanced economic development of the province.

The BoK managing director also informed the board that the bank has more than Rs 10 billion deposits of 58,000 depositors, which reflects the confidence of the general public. The Bank transacted export business of more than Rs 2,412 million as compared with Rs 1,866 million last year.

The board appreciated the bank's activities and good performance in the year 1999 in spite of the economic situation prevailing in the country.

The meeting was also attended by Ghulam Dastagir Khan, secretary finance; Riaz Khan, secretary industry, Saeed-ur-Rehman, FCA and Amjad Ali Arbab, executive vice-president and in-charge of micro finance unit (MFU).