Bank Of Azad Jammu Kashmir (BAJK) Raises Assets From Rs. 13b To Rs. 28b; CEO

Mohammad Ali (@ChaudhryMAli88) Published February 23, 2023 | 06:51 PM

The government-run Bank of Azad Jammu Kashmir (BAJK) has recorded a tremendous increase of profit of 110 percent during last year besides the profit raised from Rs 139 million to Rs 961 million in the last three years raising the assets from Rs 13 billion to Rs 28 billion

MIRPUR (AJK): (UrduPoint / Pakistan Point News - 23rd Feb, 2023 ):The government-run Bank of Azad Jammu Kashmir (BAJK) has recorded a tremendous increase of profit of 110 percent during last year besides the profit raised from Rs 139 million to Rs 961 million in the last three years raising the assets from Rs 13 billion to Rs 28 billion.

This was told by the management of the Bank of AJK at a meeting hosted by the bank here Thursday to apprise the leading businessmen of the State including the Azad Jammu Kashmir Chamber of Commerce and Industry. The meeting was largely attended by the business community from various parts of AJK.

President and CEO of the Bank Khawar Saeed while briefing about the so far progress of the Bank, asserted that the bank was securing the best business results by making progress towards scheduling. "In this regard, the Governor and Deputy Governor of the State Bank of Pakistan, while in a recent meeting with the Bank's Chairman / AJK Finance Minister Khan Abdul Majid Khan and CEO Khawar Saeed lauded the performance of BAJK acknowledging it AJK's most profitable institution delivering professional banking services", the Bank's President told the meeting.

The AJK's business community was further informed that the remittances from abroad had increased from Rs 860 million to Rs 4.6 billion and deposits have increased from Rs 11 billion to Rs. 21 billion. The Bank will join the most successful banks by promoting the business, its reputation and playing a positive role in scheduling.

MCCI President Sabir Hussain, former presidents of the Chamber and other business community presented their respective proposals assuring of their due cooperation to promote the Bank and its business across the State.

AHR.