Bank of Khyber doubles profit in first quarter of 2025

MG News | April 29, 2025 at 04:32 PM GMT+05:00

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April 29, 2025 (MLN): The Bank of Khyber (PSX: BOK) reported a profit after tax of Rs1.6 billion for the quarter ended March 31, 2025, reflecting a robust year-on-year (YoY) increase of 107.52% compared to Rs772.23 million recorded in the same period last year (SPLY).

Earnings per share (EPS) stood at Rs1.38 in 1QCY25, up from Rs0.67 in 1QCY24, showing a YoY rise of 105.97%.

The bank’s net mark-up/interest income (NII) rose significantly by 45.2% YoY to Rs5.11bn, as mark-up/return/interest earned fell by 20.38% YoY to Rs13.5bn, while the corresponding expenses dropped more sharply by 37.53% to Rs8.39bn.

Non-markup/interest income surged 64.05% YoY to Rs899.91m in 1QCY25, driven primarily by a gain of Rs520.72m on securities and Rs50.97m from derecognition of financial assets.

However, fee and commission income declined by 18.90% and foreign exchange income dropped by 68.16% YoY.

Operating expenses increased by 15.25% YoY to Rs2.72bn, mirroring a similar rise in total non-markup expenses.

The bank also recorded a reversal of credit loss allowances amounting to Rs117.99m in 1QCY25, compared to a provision of Rs190.08m in SPLY, further supporting profitability.

Consequently, profit before taxation soared by 124.72% YoY to Rs3.4bn, while taxation rose sharply by 142.62% to Rs1.8bn, resulting in a solid net profit growth for the quarter.

Financial Results for the Quarter Ended March 31, 2025 (Rupees in '000)
Category	Mar-25	Mar-24	%Change
Mark-up / Return / Interest Earned	13,500,282	16,955,222	-20.38%
Mark-up / Return / Interest Expensed	(8,394,671)	(13,438,855)	-37.53%
Net Mark-up / Interest Income	5,105,611	3,516,367	45.20%
Non Mark-up / Interest Income
Fee and Commission Income	228,101	281,244	-18.90%
Dividend Income	-	-
Foreign Exchange Income	72,367	227,268	-68.16%
Income / (Loss) from Derivatives	-	-
Gain on Securities	520,715	-
Net Gains on Derecognition of Financial Assets	50,971	-
Share of Profit of Associate	2,968	4,696	-36.80%
Other Income	24,783	35,332	-29.86%
Total Non-Mark-up / Interest Income	899,905	548,540	64.05%
Total Income	6,005,516	4,064,907	47.74%
Non Mark-up / Interest Expenses
Operating Expenses	(2,720,474)	(2,360,455)	15.25%
Workers Welfare Fund	-	-
Other Charges	(130)	(100)	30.00%
Total Non-Mark-up / Interest Expenses	(2,720,604)	(2,360,555)	15.25%
Profit Before Credit Loss Allowance	3,284,912	1,704,352	92.74%
(Reversal) / Credit Loss Allowance and Write Offs - Net	(117,989)	190,076
Extraordinary / Unusual Items	-	-
Profit Before Taxation	3,402,901	1,514,276	124.72%
Taxation	(1,800,369)	(742,044)	142.62%
Profit After Taxation	1,602,532	772,232	107.52%
Basic and Diluted Earnings Per Share (Rs.)	1.38	0.67	105.97%

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