KARACHI: Soneri Bank Limited posted a profit before tax of Rs822.31 million and profit after tax of Rs539.21 million for the first quarter ended 31 March 2016. The Board in its 149th meeting held on 20 April 2016, approved the Bank’s first quarterly un-audited financial statements. Deposits grew by 5.61% during the period closing at Rs195.62 billion (December 2015: Rs.185.22 billion). Net Advances are almost at 2015 year end position standing at Rs.112.76 billion (December 2015: Rs.112.00 billion).The Bank’s Net assets (including surplus) amount to Rs.17.60 billion as at March 31, 2016. The Bank continues to follow a prudent policy of making provisions against infected loan portfolio in line with regulatory requirements.
Published in The Express Tribune, April 21st, 2016.
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