Soneri Bank announces results for 9 months period ended Sept 30

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The Board of Directors of Soneri Bank Limited, in their 194th meeting held in Karachi on 27th October 2022, approved the Bank’s condensed interim financial statements for the nine months ended 30 September 2022.

The Bank posted profit before tax (PBT) of Rs. 3,348 million and profit after tax (PAT) of Rs. 1,295 million for the nine months ended September 2022, as compared to Rs. 4,198 million and Rs. 2,357 million respectively in the same period last year. The Bank’s EPS was recorded at Rs. 1.1747 per share for the current reporting period, as compared to Rs. 2.1388 for the comparative prior period.

The Bank’s Net Interest income for the nine months ended at Rs. 7,759 million, decreasing by 8.04 percent against Rs. 8,437 million reported for the same period last year.

The key factor behind this reduction was the timing difference on repricing of the overall balance sheet.

Non-interest income increased impressively to end at Rs. 4,066.717 million as against Rs. 3,093.038 million for the comparative prior period.

Despite inflationary pressures, growth in expenses was restricted at 19.73 percent as compared to the prior period with Non-markup expenses reported at Rs. 9,003 million for the nine months period ended 30 September 2022.

 

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