Soneri Bank posts profit of Rs2.21b

KARACHI: Soneri Bank Limited has posted a profit after tax of Rs2.21 billion which is 39.87% higher than last year. This translates into earnings per share of Rs2.01 (31 December 2014: Rs1.44). Profit before tax stands at Rs3.59 billion being 47.25% higher than last year. The bank has outperformed the market in deposit growth and also shown reinforcement in all core areas of operations. Deposits grew by 13.46% over 2014 and net advances recorded a growth of 3.74% over 2014. The bank also adequately met the SBP Basel III requirements and is well positioned to meet its growth plans. Bank sources explain that the increase in gross revenue was registered mainly on account of growth in earning assets, which increased the bank’s net markup income.

Published in The Express Tribune, February 12^th, 2016.

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