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Annual Report 2018

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Annual Report 2018 1 iconic BOK Tower 2 Alhamdulillah, our Bank’s Head Office Building - The BOK Tower is near completion. It will be an ICONIC building all set to add new landmark to adorn the historic city of Peshawar. 3 Contents Vision & Mission .......................................................................... 06 Financial Highlights 2018 .......................................................... 13 Corporate Information ............................................................... 14 Products & Services ................................................................... 16 Board of Directors ....................................................................... 18 Managing Director Message .................................................... 20 Management Team ...................................................................... 26 Notice of Twenty Eighth Annual General Meeting............. 30 Chairman’s Review Report ........................................................ 34 Directors’ Report to the Shareholders .................................... 35 Statement of Compliance .......................................................... 44 Review Report on the Statement of Compliance ................ 47 Statement of Internal Controls ................................................. 48 Report of the Shariah Board ..................................................... 49 Independent Auditor’s Report .................................................. 55 Statement of Financial Position ............................................... 62 Profit and Loss Account ............................................................. 63 Statement of Changes in Equity .............................................. 65 Cash Flow Statement ................................................................. 66 Notes to the Financial Statements .......................................... 67 Pattern of Shareholding .......................................................... 144 Category of Shareholders ...................................................... 145 Branch Network Details ......................................................... 146 Foreign Correspondent Banks ............................................... 150 Form of Proxy ........................................................................... 153 Vision To become a Leading Bank providing eff icient and dynamic services in both Islamic and Conventional banking through expanded nationwide network. Mission To increase shareholders’ value and provide excellent service and innovative products to customers through effective corporate governance, friendly work environment and contributing towards an equitable socioeconomic growth. 6 Core Values • Highest quality of service • Professionalism • Integrity • Team Work • Innovation and utilization of latest technology • Risk Mitigation • Corporate Social Responsibility 7 8 BOK Taking Services to Another Level 9 Art of Moving Ahead Without change there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable. William Pollard 10 11 Entity Ratings A Long term A1 Short term by JCR-VIS/PACRA 12 Financial Highlights 2018 (Rs. in Million) Deposits Capital and Reserves 171,168 13,809 Advances (net) Profit before Tax 95,012 707 Investments Profit after Taxation 94,233 466 Total Assets Return on Equity 223,095 4% 13 Corporate Information Board of Directors Contacts Dr. Shahzad Khan Bangash PABX: (92-91) 111 95 95 95 Chairman / Non-Executive Director 24/7 Call Centre: (92-21) 111 265 265 Shakeel Qadir Khan Email: [email protected] Non-Executive Director Maqsood Ismail Ahmad Website: www.bok.com.pk Non-Executive Director Asad Muhammad Iqbal Board Audit Committee Independent Director Asad Muhammad Iqbal Javed Akhtar Chairman Independent Director Shakeel Qadir Khan Shaharyar Ahmad Independent Director Member Javed Akhtar Managing Director / CEO Member Saif-ul-Islam Shaharyar Ahmad Member Shariah Board Mufti Muhammad Zahid Chairman Shariah Board Board Human Resource & Remuneration Mufti Muhammad Ibrahim Essa Committee Member Shariah Board Shaharyar Ahmad Qazi Abdul Samad Chairman Resident Shariah Board Member Maqsood Ismail Ahmad Auditors Member Grant Thornton Anjum Rahman Asad Muhammad Iqbal Chartered Accountants Member The Managing Director Chief Financial Officer Member Mahmood Ahmed Qureshi Company Secretary Board Risk Management Committee Zahid Sahibzada Maqsood Ismail Ahmad Chairman Registered Office / Head Office Javed Akhtar 24 – The Mall, Peshawar Cantt., Pakistan Member Shakeel Qadir Khan 1st Floor, State Life Building, 34 – The Mall, Member Peshawar Cantt., Pakistan The Managing Director Registrar and Share Registration Office Member THK Associates (Pvt) Ltd. 1st Floor, 40-C, Block 6 Board I.T Steering Committee P.E.C.H.S, Karachi – 75400 Pakistan. Shakeel Qadir Khan Ph: (92-21) 111-000-322, Fax: (92-21) 34168271 Chairman Email: [email protected] Website: www.thk.com.pk Shaharyar Ahmad Member Legal Advisors Mr. Asad Muhammad Iqbal Mr. Nisar Ahmed Khan, Advocate, Peshawar Member The Managing Director M/s. Mohsin Tayebaly & Co., Karachi Member 14 15 Products & Services Personal Banking Consumer Finance BOK Foree Car BOK Suhana Ghar BOK Salary Sahara BOK Roshan Ghar Deposit Products Kamal Current Account BOK Pensioner Account BOK Asaan Account Bemisal Term Deposit BOK PLS Account Be-Baha Mahana Amdan BOK Special Deposit Account Khyber Friendly scheme BOK FCY Premium Saving Account Microfinance Government Initiative Schemes BOK Services Saturday Nonstop Banking Online Branch Transaction PRISM Transactions Safe Deposit Lockers JCB Debit Card Home Remittances Business Banking SME Banking SE & ME Enterprises Term Financing Trade Investment Banking Corporate & Syndicate AGRI Finance Tractor Loan Scheme Dairy Storage Scheme Sada Bahar Zarai Loan Dairy Marketing Scheme Livestock Scheme Tube well Loan Scheme 16 Raast Islamic Banking Products & Services Personal Banking Consumer Finance Raast Car Ijarah Raast Home Musharakah Raast Consumer Murabaha Raast Roshan Ghar Deposit Products Raast Current Account Raast Saving Account Raast Asaan Account Riba free Certificates Raast Islamic Banking Services PRISM Transactions Safe Deposit Lockers JCB Debit Card Home Remittances Online Branch Transaction Saturday Nonstop Banking Business Banking SME Banking Shariah Compliant f inancing facilities for Corporate and SME Sectors along with Trade services Diminishing Musharakah Istisna Ijarah Commercial Salam Murabaha Running Musharakah AGRI Finance Zarai Murabaha Scheme Zarai Ijara Scheme Istisnah 17 Board of Directors Dr. Shahzad Khan Bangash Shakeel Qadir Chairman/Non Executive Director Non Executive Director Dr. Shahzad Khan Bangash is a senior civil servant Mr. Shakeel Qadir Khan is a civil servant and presently, with extensive national and international experience. is heading the Finance Department, Government of Dr. Bangash has served on various positions abroad in Khyber Pakhtunkhwa. Prior to appointment as Secretary United Nations Mission in Kosovo. Before appointment Finance, Mr. Shakeel Qadir Khan held position of as Additional Chief Secretary, Government of Khyber Secretary, Home Department. He joined Civil Services Paktunkhwa, Dr. Bangash was Secretary Elementary & in 1998 and has served on various important positions. Secondary education. Mr. Shakeel Qadir Khan holds Bachelor’s of Engineering in Electronics from University of Engineering & Technology besides Post Graduate Diploma in Management from University of Surrey, UK and has also attended various national courses. Maqsood Ismail Asad Muhammad Iqbal Non Executive Director Independent Director Mr. Maqsood Ismail is a professional businessman Mr. Asad holds a Bachelor Degree in Computer of the Country having diversified experience from Science from Carnegie Mellon University, USA. He has manufacturing to power generation and commodities diversified experience in equities, asset management business. He is on the boards of different companies and software development. He served as Vice President, and remained Chairman/Presidents of different Equities Division at Goldman Sacks & Company, N.Y., business forums viz. Federation of Pakistan Chambers USA. He has also remained a Director of the Karachi of Commerce & Industry, Export Processing Zones Stock Exchange. Presently, he is executing his duties Authority, Pakistan Yarn Merchants Association. He as Chief Executive of Streetware Systems, a software also represented Pakistan as a businessman in official development company engaged in developing solutions delegations to different countries. Mr. Ismail is a for the financial institutions. Bachelor of Science in Economics and Political Science from University of Delaware, United States of America. 18 Javed Akhtar Shaharyar Ahmad Independent Director Independent Director Mr. Javed Akhtar is associated with the textile industry. Mr. Shaharyar Ahmad has been a professional banker Apart from managing his own group of companies, for almost four decades with extensive national / he is also the Chairman, Fashion Apparel Designing international experience in Europe, the Middle East and Training Institute (FADIN), Member Managing and Pakistan. Mr. Ahmad has remained President Committee and currently member General Body of and Chief Executive of Askari Bank Limited and Pak- the Federation of Pakistan Chamber of Commerce & Kuwait Investment Company Ltd. besides holding Inductry (FPCCI). He also remained Director of Karachi senior
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