Muzaffarabad: The total value of assets of Bank of Azad Jammu and Kashmir has crossed the figure of Rs25-billion, whereas deposits reached at ever time high Rs19-billion.

This was stated in an event organized here in the capital of the State on Friday. Khan Abdul Majid Khan, Minister for Finance, Cooperative, Inland Revenue and Chairman Bank of AJK was the chief guest at the occasion.

While talking to the management of the bank, the minister said that the only financial institution of the state is making speedy progress. Significant business results have been achieved.

He said the government is taking all possible steps to continue the growth journey of the bank. Earlier, the President and Chief Executive Officer Khawar Saeed in a briefing said that the total value of the bank’s assets in the year 2019 was Rs13.566 billion.

In 2020, it increased to Rs16.819 billion and now it has reached to Rs25.03 billion, which is the highest ever in the history of the bank. He said the total deposits in 2019 were only Rs11 billion which had now increased to Rs19.200 billion.

He said historic business targets have been achieved in areas such as assets, deposits, profits and remittances. A cake was also cut on this occasion.