Provincial Government Bank

Bank of Khyber (BOK) Overview

History, leadership, ownership, and key facts about Khyber Pakhtunkhwa's provincial bank.

Founded 1991
PSX: BOK
"A+" Rated

Written & reviewed by Dildar Hussain — 10+ years in Pakistani banking, BS Banking & Finance (NUML University)

Bank of Khyber is one of only a handful of provincial government-owned banks in Pakistan, and the only scheduled bank majority-owned by the Government of Khyber Pakhtunkhwa. Every fact on this page traces back to an official source — no marketing copy repeated as fact.

Bank of Khyber — commonly written as BOK or "the Bank of Khyber" — was set up in 1991 alongside the Bank of Punjab and First Women Bank as a state-owned, regional entity. It is in the middle of a bank-wide transition toward full Islamic banking under its "Raast" brand — for consumer lending specifically, BOK's own product pages confirm conventional-mode loans (home, auto, personal) have already been discontinued, while conventional deposit accounts and some business/agri lending remain active in parallel for now.

This page pulls together what's actually verifiable about BOK: who owns it, who runs it, how big its network really is, and what its credit rating says about its financial standing — all traced to BOK's own official disclosures, not aggregator guesswork.

BOK at a Glance

Founded: 1991
Scheduled Bank Since: September 1994
Headquarters: 24 - The Mall, Peshawar Cantt
Branch Network: 256 branches (212 Islamic)
Credit Rating: VIS 'AA-' / PACRA 'AA-'
Stock Listing: PSX: BOK
Majority Owner: Govt. of Khyber Pakhtunkhwa (70.20%)
IPO Listed: January 2006, at PKR 15/share

Because it is regulated by the State Bank of Pakistan like every other scheduled bank, BOK's capital adequacy and governance are subject to the same central-bank oversight described on SBP's own site.

Branch count confirmed from BOK's condensed interim financial statements for the six months ended June 30, 2026, filed with the Pakistan Stock Exchange. Ownership and rating figures confirmed from the same filing. Figures supersede older BOK "About Us" page figures, which are not kept current. Last verified: September 2026.

Ownership: Who Owns BOK?

BOK is a provincial government bank, majority-owned by the Government of Khyber Pakhtunkhwa, which holds 70.20% of the bank's shares as of the most recent quarterly filing. It is described by the bank itself as one of only a few government-owned banks operating in Pakistan, alongside institutions like the Bank of Punjab. The largest private shareholder is Ismail Industries Limited, holding 282,852,969 shares — 24.43% of the 1,157,935,989 shares outstanding — with the remainder held by other institutional and individual investors on the Pakistan Stock Exchange. Free float (the portion actually available for public trading) is notably small at around 5% of total shares, per PSX's own equity profile for the stock.

Because the provincial government is the controlling shareholder, BOK's board composition reflects that relationship: the Chairman of the Board is, by convention, held ex officio by a senior Khyber Pakhtunkhwa government official. Mr. Islam Zeb became Chairman of the Board effective January 23, 2026, by virtue of his posting as Additional Chief Secretary, Planning & Development Department, Government of Khyber Pakhtunkhwa, succeeding Mr. Ikramullah Khan in that ex officio role.

Ownership and free-float figures confirmed from BOK's Q1 2026 condensed interim financial statements and PSX's live equity profile for ticker BOK. Chairman appointment confirmed from BOK's official notification to the Pakistan Stock Exchange, January 2026, and PSX's current "Key People" listing. Last verified: August 2026.

Leadership

Hassan Raza

Managing Director & Chief Executive Officer since November 11, 2024. Previously served as Managing Director and Director at Pak China Investment Company Limited.

Islam Zeb

Chairman of the Board of Directors (ex officio, from January 2026), by virtue of his role as Additional Chief Secretary, Planning & Development Department, Government of Khyber Pakhtunkhwa.

Senior Management

Includes Irfan Saleem Awan (Senior EVP & Chief Financial Officer), Muhammad Atif Hanif (Senior EVP, Islamic Banking Group), Raza Mohsin Qizilbash (Company Secretary), and Gul Buhar Khan (SEVP & Group Head, Retail Banking, appointed February 2026), among other group heads spanning treasury, compliance, HR, and operations.

Leadership details confirmed from BOK's official notifications to the Pakistan Stock Exchange, its Q1 2026 Corporate Information page, and its Management/Key Executive pages. Last verified: August 2026.

Scale and Digital Reach

BOK operates a network of 256 branches across Pakistan, of which 212 are dedicated Islamic banking branches (per BOK's H1 2026 filing, as at June 30, 2026 — up from 254 branches/199 Islamic at end-2025, with 11 more conventional branches converted to Islamic during the half-year), as part of the bank's ongoing move toward full Shariah-compliant operations under its Raast Islamic Banking brand. On the digital side, the bank runs a 24/7 Contact Center, a mobile and internet banking platform branded BOK Digital (first launched January 2021), WhatsApp Banking, and an online IBAN Generator for customers who need their account details in international format.

In January 2026, BOK also incorporated a new wholly-owned subsidiary, BOK Currency Exchange Company (Private) Limited, injecting Rs 1 billion as paid-up capital. The State Bank of Pakistan issued in-principle approval for the exchange company's operations in February 2026, and the subsidiary is completing the remaining requirements before applying for full authorization to conduct foreign exchange business. As a result, BOK now reports both unconsolidated and consolidated financial statements each quarter — a structural change from prior years.

Corporate Role in Khyber Pakhtunkhwa

Provincial Development Bank

Positioned by the provincial government as a vehicle for financing development and economic activity within Khyber Pakhtunkhwa.

Government Scheme Delivery

Channel bank for schemes such as the Prime Minister's Kamyab Jawan Programme, Insaf Rozgar Scheme, and Ehsaas Naujawan Programme.

One of Few Government Banks

Bracketed by the bank itself among only a small handful of government-owned banks operating in Pakistan.

Scale and program details confirmed from BOK's official Introduction and Micro Finance pages. Last verified: August 2026.

Frequently Asked Questions

Who owns Bank of Khyber?

The Bank of Khyber is majority-owned by the Government of Khyber Pakhtunkhwa, which holds 70.20% of shares per the bank's most recent quarterly filing. Ismail Industries Limited is the largest private shareholder, holding 24.43% of shares outstanding.

Who is the CEO of Bank of Khyber?

Mr. Hassan Raza has served as Managing Director and Chief Executive Officer of the Bank of Khyber since November 11, 2024.

When was Bank of Khyber founded?

The Bank of Khyber was established in 1991 through an Act passed by the Provincial Legislative Assembly of the then-North-West Frontier Province, and was awarded scheduled bank status by the State Bank of Pakistan in September 1994.

Good For

Researching BOK's ownership, leadership, and credit rating before opening an account
Understanding how BOK compares in scale to Pakistan's other provincial and national banks
Confirming BOK's PSX listing and Government of Khyber Pakhtunkhwa ownership structure
Getting a fast, sourced answer instead of a marketing summary

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