Profit of AJK Bank surges to Rs1.4 billion in first nine months
The state-owned Bank of Azad Jammu and Kashmir (BoAJK) has achieved a historic operating profit of Rs1.414 billion in the first nine months of 2024, marking significant growth across its deposits, assets, and remittances.
In a press release, BoAJK
spokesperson Ghulamullah Kayani shared that the bank’s total assets soared to
an all-time high of Rs51.279 billion, the highest in its 18-year history.
Deposits also saw a remarkable surge, reaching Rs39.118 billion, while
remittances climbed to Rs3.308 billion — both figures representing record
growth since the bank’s inception through an Act of the Assembly in 2006.
Read More Khawar
Saeed of AJK Bank recognized as the Best Performing CEO
During this period, BoAJK disbursed
loans worth Rs4.646 billion, with improved lending quality. The bank introduced
special financial schemes aimed at promoting tourism, enhancing healthcare, and
empowering women through targeted financial support.
“Our bank is actively involved in
supporting various events and initiatives that nurture and promote local talent
across multiple fields,” Kayani noted.
Read More SBP
agrees to issue license to Bank of Azad Jammu and Kashmir
He expressed optimism for BoAJK’s
future, stating that the bank is on track to become one of the most successful
financial institutions in Pakistan. Additionally, he mentioned that Governor of
the State Bank of Pakistan (SBP), Jameel Ahmed, had praised BoAJK's performance
and voiced support for its efforts to achieve scheduled bank status.
Source: Dawn