Out of 169 branches 55 branches of Khyber Bank suffer losses

Out of 169 branches 55 branches of Khyber Bank suffer losses

The minister says the government is aware of the financial issues being faced by the Khyber Bank

As many as 55 branches of Khyber Bank across the country are facing a deficit, said a report of the provincial finance department.

The report of the Khyber-Pakhtunkhwa (K-P) Finance Department read that the Khyber Bank has a total of 169 branches across the country out of which 55 branches are running in losses.

The 23 branches of the bank located in the province including the branches in Parachinar, Yar Hussain, Sher Ghar, Kohat, Sher Kot, Swabi, Tordher, Chitral Darush, Sheikh Yousaf branch in DI Khan, Sar Dheri branch in Charsadda, Lundkhwar branch in Mardan, Nasir Bagh branch in Peshawar, Haripur Judicial complex branch, IBB Ghalanai, Rashakai Nowshera, Manki Sharif, Miran Shah, Wana, Kalaya, Lakki Marwat, Kohat, Turkham, Dir, Rustam Mardan.

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The report further added that six branches of the Khyber bank in Sindh, 18 in Punjab and two in the federal capital are operating at losses.

While in Kashmir, two branches– Mirpur and Kotli– and four branches in Balochistan are also in losses.

Commenting on the issue, K-P Finance Minister Taimur Saleem Jhagra said that the provincial government cannot deposit all public money in Khyber Bank alone. The government has deposited money in the banks where it can earn more profits.

The minister said that the government is aware of the financial issues being faced by the Khyber Bank.

Published in The Express Tribune, August 15th, 2020.