Tuesday, 28 May 2024
Trending
Soneri Bank Profit Declared 2020
MARKETS

Soneri Bank declares Rs2,400m profit after tax

Annual Audited Financial Statements of Soneri Bank Limited for the year ended 31st December, 2020, were approved by the Bank’s shareholders on Friday, 26th March, 2021, at its 29th AGM in Lahore and Karachi by Zoom.

The meeting chaired by Board Chairman Allauddin Ferista. Along with the President and Chief Executive Officer and other members of the Board of Directors were also present.

In 2020, the bank posted a pre-tax profit of Rs 4,035 million. A post-tax (Profit after tax) profit of Rs 2,420 million. When compared with 2019 it comes to Rs 3,247 million and Rs 1,906 million respectively. Representing an increase of 24.27 per cent and 25.93 per cent respectively. The earnings per share (EPS) for the year reported at Rs 2.1772 per share.

During the meeting, the shareholders approved the final cash dividend for the year ended December 31, 2020; 12.50% or Rs. 1.25 per share, which earlier proposed by the Board of Directors.

See also  State Bank releases Annual Payment Systems Review for Financial Year 20-21

Briefing shareholders on the financial results, the President and CEO said that the bank’s net interest income (NII) has improved by 34.43% per annum, mainly due to better volume and sustained expansion. He also said that the value of non-fund based income (NFI) reported at Rs 3,807 million, which indicates an increase of 33.08 per cent in one year.

Online-Tax-Courses
A d v e r t i s e m e n t

Soneri Bank Limited | Banks | Profits | Financial Statements | Audited | Profit after Tax |

Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: