Observer Report Karachi
The Board of Directors of Soneri Bank Limited, in their 188th meeting held in Lahore on tuesday, approved the Bank’s condensed interim financial statements for the nine months ended 30 September 2021.
The Bank posted profit before tax (PBT) of Rs. 4,198 million and profit after tax (PAT) of Rs. 2,358 million for the nine months ended 30 September 2021, as compared to Rs. 3,093 million and Rs. 1,811 million respectively in the same period last year.
The Bank’s EPS was recorded at Rs. 2.14 per share for the current reporting period, as compared to Rs. 1.64 for the comparative prior period, indicating growth of 30.18 percent.
The Bank’s total revenue for the nine months was reported at Rs. 11,476 million, improving by 3.67 percent against Rs. 11,069 million reported for the same period last year.
Growth in expenses was restricted at 12.62 percent as compared to the prior period with Non-markup expenses reported at Rs. 7,519 million for the nine months ended 30 September 2021.
As at 30 September 2021, the Bank’s net advances portfolio stood at Rs. 179,208 million, 8.91 percent higher than the year end 2020 level.
Total Deposits registered a growth of 4.18 percent when compared to 31 December 2020, ending at Rs. 359,925 million on 30 September 2021, period end CASA mix improved to 73.61 percent as against 68.65 percent on 31 December 2020, total CASA improved to Rs. 264,935 million from Rs. 237,198 million on 31 December 2020. Gross ADR of the bank stood at 51.96% as at 30 September 2021.
The Bank continues to remain adequately capitalized, with CAR of 15.14 percent as at 30 September 2021.
As the Bank celebrates its 30th anniversary this year, the Board takes this opportunity to appreciate the commitment and hard work of its dedicated employees.
The Board remains confident that the Bank shall continue to protect and serve the interest of all stakeholders by fulfilling the growing banking needs of our society, and focusing on financial inclusion and customer satisfaction.
