Soneri Bank Limited posted a profit after tax of Rs. 419 million for the period of July-September as compared to Rs. 366 million last year, increasing by 14.48%.
Earning per share increased to Rs. 0.38 as compared to Rs. 0.33 during the same period last year.
No right shares, Bonus shares and Cash Dividend have been announced by the bank.
Net mark up increased to Rs. 1.6 billion from Rs. 1.4 billion last year. The administrative expenses increased to Rs. 1.7 billion. The bank earned almost Rs. 140 million this quarter by dealing in foreign currencies.
The operating environment defined by low interest rates/margins and aftermath of high yielding bond bonanza has impacted the banking industry’s profitability. Soneri Bank’s strategy to meet this challenge has borne fruit and the bank is well positioned to withstand these pressures.
It continues to follow a prudent policy of making provisions against infected loan portfolio in line with regulatory requirements.
Soneri Bank Limited posted a profit after tax of Rs. 1.2 billion for the nine months ending at 30 September 2017 as compared to Rs. 1.54 billion last year. This marks a depreciation of 20.13%.
Earning per share decreased to Rs. 1.11 as compared to Rs. 1.39 of the same period last year. Soneri Bank’s script at the bourse closed at Rs. 13.02 on Wednesday.
Soneri Bank is engaged in banking services as described in the Banking Companies Ordinance, 1962 and operates 288 branches including 16 Islamic banking branches (2015: 266 branches including 16 Islamic banking branches) in Pakistan.