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Financial Results

The Bank of Khyber Limited’s financial results for the half year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Bank in their 108th meeting held on August 27, 2011 at 10:00 a.m. at Finance Department, Civil Secretariat, Peshawar, recommended the following:

 

(1) Cash Dividend Nil
(2) Bonus Shares Nil
(3) Right Shares Nil
(4) Any Other Entitlement / Corporate Action Nil
(5) Any Other Price – Sensitive Information Nil

 

The financial results of the Bank are attached as Annexure – I.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on NIL.

The Share Transfer Books of the company will be closed from NIL to NIL (both days inclusive). Transfers received at the THK Associates (Pvt.) Limited, State Life Building No. 3, Dr. Ziauddin Ahmed Road, Karachi at the close of the business on NIL will be treated in time for the purpose of the above entitlement to the transferees.

Annexure- 1

Condensed Interim Profit And Loss Account (Un-Audited) for the Six Months Ended June 30, 2011

 

Three months

Six months

Three months

Six months

ended

ended

ended

ended

June 30,

June 30,

June 30,

June 30,

Note

2011

2011

2010

2010

Rupees in ‘000’

Mark-up / return / interest earned 1,568,284  3,041,890 912,233        1,787,559
Mark-up / return / interest expensed 968,838 1,933,619 641,571        1,281,926
———  ———  ——-  ———
Net mark-up / interest income 599,446 1,108,271 270,662          505,633
Reversal of provision against non-performing loans and advances – net 7.2 (15,411)  (53,613) (27,971) (151,695)
Provision for diminution in the value of investments – net 6.1 27,610 27,610 172,262 153,312
Bad debts written off directly   –  –  –
 ——— ——— ——- ———
12,199 (26,003) 144,291 1,817
Net mark-up / interest income after provisions  587,247 1,134,274 126,371 503,816
Non Mark-Up / Interest Income
Fee, commission and brokerage income 63,857 106,884  43,914 75,003
Dividend income 46,947 83,276 12,411 41,167
Income from dealing in foreign currencies 11,061 22,688 8,632 10,838
Gain on sale of securities – net 8,548 19,968 8,988 201,124
Unrealised loss on revaluation of
investments classified as held-for-trading (15,666)  (17,625)  (4,002) (2,907)
Other income 21,845 33,488 23,725 37,389
 ——— ——— ——- ———
Total non mark-up / interest income 136,592 248,679 93,668 362,614
——— ——— ——- ———
723,839 1,382,953 220,039 866,430
Non Mark-Up / Interest Expenses
Administrative expenses 353,181  643,996 233,342 445,796
Other provisions / write offs 19,409  –  –
Other charges 8,884 14,108 11,120 13,080
———  ———   ——- ———
Total non mark-up / interest expenses  362,065 677,513 244,462 458,876
——— ——— ——- ———
361,774 705,440 (24,423) 407,554
Extra ordinary / unusual item  –  –  –
 ——— ———  ——- ———
Profit / (Loss) Before Taxation 361,774 705,440 (24,423) 407,554
Taxation
Current (81,818) (146,682)  (123,935) (63,218)
Prior  –
Deferred  (100,266)  (98,908)  (71,554) (92,552)
——— ——— ——-  ———
(182,084) (245,590) (195,489) (155,770)
——— ——— ——- ———
Profit / (Loss) After Taxation 179,690 459,850  (219,912) 251,784
——— ———  ——- ———
Earnings per share – Basic and Diluted (in Rupees)  0.36 9.92 (0.44) 0.50

 

The annexed notes 1 to 16 form an integral part of these condensed interim financial information.

 

For more information, contact:
The Bank of Khyber Limited
24-The Mall, Peshawar Cantt 25000,
Khyber Pakhtunkhwa,
Islamic Republic of Pakistan
UAN: +92-91-111 95 95 95
Fax: +92-91-5278146,
Website: www.bok.com.pk
E-mail: ceo@bok.com.pk

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