Thursday, 30 March 2023

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.

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.

A d v e r t i s e m e n t

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

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