BOK 9MCY26 profit sinks 52%

MG News | October 28, 2026 at 03:56 PM GMT+05:00

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October 28, 2026 (MLN): The Bank of Khyber (PSX: BOK) reported a 52% decline in its consolidated net profit for the nine months ended September 30, 2026 (9MCY26), falling to Rs2.39bn compared to Rs4.97bn in the corresponding period last year.

Reflecting the reduced bottom line, basic and diluted earnings per share (EPS) for the nine-month period contracted 52% to Rs2.07 from Rs4.29 in 9MCY25.

For the third quarter (Q3CY26) alone, net profit dropped 43% to Rs918.18m (EPS of Rs0.79) compared to Rs1.61bn (EPS of Rs1.39) recorded in Q3CY25.

The decline in performance was driven by compression in both net interest income and non-mark-up streams.

Net mark-up/interest income fell 12% to Rs12.81bn compared to Rs14.52bn in 9MCY25.

Mark-up/interest earned fell 4% to Rs39.44bn from Rs41.19bn, while mark-up/interest expensed stood flat at Rs26.63bn (against Rs26.66bn).

Total non-mark-up/interest income fell 58% to Rs1.52bn from Rs3.65bn, heavily dragged down by a 96% plunge in gains on securities to Rs92.83m (compared to Rs2.22bn in 9MCY25) and lower foreign exchange income of Rs409.45m (down 16%), despite a 13% rise in fee and commission income to Rs902.27m.

Consequently, total income for the nine-month period retreated 21% to Rs14.33bn from Rs18.17bn.

On the operational side, non-mark-up expenses rose 13% to Rs9.67bn compared to Rs8.53bn in 9MCY25. Operating expenses expanded 12% to Rs9.55bn (up from Rs8.53bn), while other charges stood at Rs120.85m compared to Rs230 thousand. This pushed profit before credit loss allowance down 52% to Rs4.66bn against Rs9.65bn in the comparative period.

The bank recorded a reversal of credit loss allowance and write-offs (net) of Rs498.38m, down 48% compared to a net reversal of Rs958.69m booked in 9MCY25. Profit before taxation dropped 51% to Rs5.16bn from Rs10.60bn.

With total taxation expense declining 51% to Rs2.76bn (down from Rs5.63bn), The Bank of Khyber concluded the nine-month period with a consolidated net profit of Rs2.39bn.

STATEMENT OF PROFIT OR LOSS FOR NINE MONTHS ENDED SEPTEMBER 30, 2026 (Rs.000)
Description	2026	2025	change %
Mark-up / return / interest earned	39,443,659	41,186,051	-4.2%
Mark-up / return / interest expensed	(26,629,542)	(26,662,033)	-0.1%
Net mark-up / interest income	12,814,117	14,524,018	-11.8%
Fee and commission income	902,271	800,602	12.7%
Dividend income	-	-
Foreign exchange income	409,450	486,600	-15.9%
Income / (loss) from derivatives	-	-
Gain on securities	92,830	2,215,468	-95.8%
Net (loss) / gain on derecognition of financial assets measured at amortised cost	(2,043)	17,104
Share of profit of associate	9,145	15,388	-40.6%
Other income	106,567	113,004	-5.7%
Total non-mark-up / interest income	1,518,220	3,648,166	-58.4%
Total income	14,332,337	18,172,184	-21.1%
Operating expenses	(9,553,534)	(8,526,366)	12.0%
Workers Welfare Fund	-	-
Other charges	(120,848)	(230)	52442.6%
Total non-mark-up / interest expenses	(9,674,382)	(8,526,596)	13.5%
Profit before credit loss allowance	4,657,955	9,645,588	-51.7%
Reversal of credit loss allowance and write offs - net	498,375	958,685	-48.0%
Profit before taxation	5,156,330	10,604,273	-51.4%
Taxation	(2,762,534)	(5,631,697)	-50.9%
Profit after taxation	2,393,796	4,972,576	-51.9%
Basic and diluted earnings per share (Rupees)	2.07	4.29	-51.7%

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