By Staff Reporter
MUZAFFARABAD: Bank of Azad Jammu and Kashmir’s profit in the first six months of the year 2022 has increased to the highest level of Rs. 409 million. In this regard, a function was held at the head office on Thursday, in which the chief guest was Mr. Khan Abdul Majid Khan, the Minister of Finance, Cooperatives, Inland Revenue and Chairman Bank of the Independent Government of Jammu and Kashmir. On this occasion, Divisional Heads, Regional Controller, Zonal Chief, Branch Managers and other officers were also present.
In his presidential address, the Mr. Chairman said that the state-run bank is on the path of development. The bank has achieved significant business results in all sectors including profits, deposits, remittances and assets due to the dedication and hard work of the staff. He said that the government is taking all possible steps for the development and improvement of the bank. Protection of the interests of the institution, staff and provision of a professional environment has been ensured. Earlier, President and Chief Executive Officer Mr. Khawar Saeed said in a briefing that the profit of the bank was 139 million rupees in 2019, which increased to 301 million in 2020 and reached the level of 458 million rupees in 2021 with a historical increase of 229 percent.
In the first half of the year 2022, the profit doubled to 409 million rupees, while the profit in the first half of last year was 205 million rupees. He said that the total assets of the bank reached to 27 billion rupees. The President said that the Government of Azad Kashmir under the patronage of the Board of Directors, especially Khan Abdul Majid Khan, sincere efforts and teamwork of all bank staff made it possible to achieve historic financial results in the first half of the year as well. A cake was also cut on this occasion.
