Soneri Bank Announces Rs. 595 Million Profit in Q1 2017

Soneri Bank Ltd has announced a net profit  before tax of Rs916.33 million and profit after tax of Rs595.62 million for the first quarter which ended March 31 2017.

It had booked profit of 822.30 million before tax and 539.20 million after tax in the same quarter last year. Earnings per share increased to 0.54 from Rs0.49 this year.

These are attributable to higher revenue along with managed expenses. Net advances grew by 5.82% to Rs132.60 billion (December 2016: Rs.125.31 billion).The bank’s net assets (including surplus) amounts to Rs17.21 billion as at March 31 2017.

Resultantly script lost Rs0.40 at the intraday on Monday and was closed at Rs16.31.

No right shares, Bonus shares and Cash Dividend have been announced by the company.