Peshawar: The Bank of Khyber held its 34th Annual General Meeting on March 28, 2025, at its Head Office in BOK Tower, Peshawar, where shareholders adopted several significant resolutions in accordance with the Pakistan Stock Exchange regulations.
During the meeting, which commenced at 10:00 a.m., shareholders confirmed the minutes from the Extra Ordinary General Meeting held on May 31, 2024. The resolution stated, “It is resolved that the minutes of Extra Ordinary General Meeting held on May 31, 2024, be and are hereby confirmed.”
The shareholders proceeded to receive, consider, and adopt the Audited Accounts of the bank for the financial year ending December 31, 2024. The resolution detailed, “It is resolved that the Audited Accounts of the Bank for the year ended December 31, 2024, together with the Directors’ and Auditors’ Report thereon be and are hereby approved.”
In another critical decision, M/s. PwC A.F Ferguson and Co., Chartered Accountants, was appointed as the external auditors for the fiscal year ending December 31, 2025, with an 8.4% increase in remuneration over the previous year’s fee. This move was encapsulated in the resolution, “It is resolved that M/s. PwC A.F Ferguson and Co., Chartered Accountants, be and are hereby appointed as External Auditors of the Bank for the year ending December 31, 2025, with an increase of 8.4% over the last year fee.”
According to information available from the Pakistan Stock Exchange (PSX), the meeting also approved a final cash dividend of Rs.1.70 per share, equating to a 17% payout for the year ended December 31, 2024. The resolution read, “It is resolved that a Final Cash Dividend @ Rs.1.70 per share i.e. 17% for the year ended December 31, 2024, be and is hereby approved.”
The Bank of Khyber operates within the designated market category of financial services, focusing on providing banking solutions and financial management offerings. The resolutions passed in this meeting reflect the shareholders’ commitment to maintaining transparency and ensuring the bank’s financial health.