Bank of Khyber to go into major expansion in 2025
The Bank of Khyber (BoK) has announced an ambitious expansion plan for 2025, unveiling its strategy to open 52 new branches across Khyber Pakhtunkhwa (KP) and fully transition to Islamic banking. This move underscores the bank's commitment to delivering ethical, inclusive, and modern financial services while bolstering its presence in underserved regions.
The announcement was made at the Annual Manager Conference (AMC) in Lahore, where senior management outlined the bank's roadmap for 2025-2027. The event also recognized 36 outstanding Branch and Area Managers for their exceptional contributions to the bank’s success.
A Strategic Vision for Growth
Speaking at the AMC, BoK Managing Director Hassan Raza shared the bank’s
comprehensive vision for growth:
“We aim to provide superior services to our customers while addressing staff
concerns and resolving customer complaints effectively. By strengthening our
presence in underserved areas and engaging with stakeholders through regular
meetings and conferences, we are positioning BoK as a leading financial
institution.”
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Officials emphasized BoK’s untapped growth potential in various provinces, highlighting its role in driving economic development across Pakistan.
Unlocking KP’s Financial Potential
Group Head Sher Muhammad Muhammad shared insights into BoK’s market presence in KP, where the bank currently holds 10% of regional deposits. “If we increase our market share to 40%, total deposits will rise to Rs 640 billion,” he stated.
Sher Muhammad also noted the bank’s focus on supporting farmers and growers with tailored financial solutions. With 600,000 government employees receiving Rs 65 billion annually in salaries and pensions through BoK, the bank remains a critical player in the region’s financial ecosystem.
Commitment to Islamic Banking
BoK is prioritizing its transition to Islamic banking, with 123 operational
Islamic banking branches already in place. Head of Islamic Banking Abdullah
Ghafar highlighted the bank’s achievements, stating:
“Our Islamic banking deposits have reached Rs 94 billion, and total assets now
stand at Rs 119 billion. This marks the beginning of a transformative journey
as we meet the growing demand for Shariah-compliant financial services.”
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Investing in Digital Transformation
As part of its modernization efforts, BoK is making substantial investments
in its online and digital banking infrastructure. Fauziah Mahmood, Head of
Digital Marketing, shared the bank’s plans to introduce customer-centric
digital solutions:
“We aim to offer seamless and convenient banking experiences tailored to the
demands of the modern era. Our investments in digital transformation will
ensure accessibility and innovation across all customer touchpoints.”
With its strategic focus on expansion, Islamic banking, and digital innovation, the Bank of Khyber is poised to strengthen its market position while driving financial inclusion and economic development across Pakistan.
Source: Profit Pakistan