Soneri Bank Limited has declared its profits for the half-year ended June 30, 2018.
The growth of the bank increased by 20.2%, resulting in Rs 975 million in profits, as against Rs 811 million a year ago on June 30, 2017.
Its earnings per share (EPS) increased to Rs 0.8853 compared to an EPS of Rs 0.7364 declared in the same period last year.
Interest earned by the bank improved by 9% to Rs.9.47 billion as compared to Rs 8.69 in the previous year. The expenses incurred to generate that interest rose above the growth in interest earned by 12% to Rs 6.09 billion, as compared to Rs 5.44 billion last year.
The bank posted a net interest income growth of about 4% to Rs 3.38 billion during the period under review. After taking into account the reversal of provisions, that growth goes up to 6.7%. The bank posted 15.71% increase in net interest income.
The Bank’s income from fees, commissions and brokerage income grew by 12.12% to Rs 778 million. The income from dividends also increased to 8.44%. From its dealings in foreign currencies, the bank earned Rs 387 million, up by 170% from last year.
The bank’s gains from the sale of securities fell by a significant 65%, causing the bank’s non-interest income to fall from what it earned a year ago.
Non-interest income, on the other hand, fell for the bank as it decreased to Rs 1.56 billion, which was down 12.48% as compared to last year.
Non-interest expenses, on the other hand, grew by 5.35 per cent.
SNBL’S script at the bourse was closed at a price of Rs 13.04, up by Rs0.29 with a turnover of 20000 shares on Tuesday.
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