Bank of Khyber doubles profit in first quarter of 2025

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.

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