BoK internal capital generation further augmented: report

PESHAWAR: Internal capital generation of the Bank of Khyber has further augmented capitalization levels and capital adequacy ratio at current level provides considerable cushion for growth, said a report of Credit Rating Company Limited (JCR-VIS) Karachi.The company maintained that the bulk of fresh deposits mobilized was 3 channeled towards liquid investments. Liquidity profile of the institution is considered sound, it added.The assigned ratings take into account the implicit financial support from the primary sponsor, Government of Khyber Pakhtunkhwa (KPK), which has a stake of 70 percent in the bank. Support from KPK is evident in the form of equity injection, when needed, and placement of sizeable deposits with the bank. Furthermore, since 2012, KPK is exclusively availing financing for commodity operations from BoK.The position of Managing Director of BoK is vacant for some time and with the induction of new MD, strategic plan, course of action for network expansion and business growth will be evident over time.Ability of a professional management team to design and implement a well articulated business strategy under the guidance of the Board of Directors is considered an important element in the overall governance framework instituted at the bank, the report maintained.The bank has enhanced its...

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