The management of the Soneri Bank has planned to raise funds to the tune of Rs. 4 billion through a financial instrument Term Finance Certificate (TFC) in order to expand its operations across the country.
The bank will not only invest capital in its branches but it also remains tilted toward the digitalization of processes to deliver the best services to the consumers.
It has been a year of refreshed strategy for the Bank as the management looked forward to building on core strengths. The Tier 2 capital will be subject to regulatory approvals.
The bank posted profit before tax (PBT) of Rs. 917.312 million and profit after tax (PAT) of Rs. 542.529 million for the quarter ended 31 March 2022, as compared to Rs. 1,276.229 million and Rs. 781.910 million respectively for the comparative period last year.
Earnings per share (EPS) was recorded at Rs. 0.4921 per share for the current reporting period, as compared to Rs. 0.7092 per share for the comparative prior period. The bank is operating 367 branches including 35 Islamic banking branches, and 15 Islamic banking windows. and 01 sub-branch.
Soneri Bank’s management’s focus is to improve the bank’s sustained market share while remaining compliant with minimum capital requirements. Focus remains on building a stable deposit base, improving customer experience, optimizing returns through growth strategies, and enforcing a strong cost discipline across the bank.