Bank of Khyber: Islamic Banking Business net assets climb by 26.42pct
By Riffat Mughal KARACHI: Bank of Khyber (BoK) Islamic banking business net assets surged by 26.42 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 1,717.217 million during the period as against Rs 1,358.330 million in the corresponding period last year. Bank’s financing and receivables climbed up by 7.97 percent to Rs 3,144.305 million. In the total financing and receivables Murabaha portfolio contributed Rs 1,574.928 million, declined of 0.31 percent. Bank’s Ijarah portfolio reduced by 58.26 percent to Rs 111.524 million in the 9MCY11. However Ijarah under IFAS-2 surged during the period by 160.91 percent to Rs 707.327 million. Out of total financing and receivables, Murabaha portfolio contributed 50.09 percent, Ijarah under IFAS-2 portfolio constituted 22.50 percent and diminishing Musharaka added 25.16 percent. On liabilities side, total deposits and other accounts increased by 21.88 percent to Rs 9,381.153...