1qcy15: Soneri Bank posts profit of Rs613.28m

KARACHI: Soneri Bank Limited has posted a profit before tax of Rs949.73 million and profit after tax of Rs613.28 million for the first quarter ended March 31, 2015. The board, in its 143rd meeting, also approved the bank’s first quarterly un-audited financial statements. The bank’s net revenue rose by 28.31% to Rs2.61 billion, compared to last year’s figure of Rs2.03 billion. Bank’s net assets amounted to Rs17.26 billion as of March 31, 2015, 1.33% higher than 2014 base of Rs17.04 billion. Deposits stood at Rs162.73 billion, while net advances are down by 6.48% to Rs99.20 billion due to seasonal factors.

Published in The Express Tribune, April 19^th, 2015.

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