Soneri Bank announces Rs1.88b profit

KARACHI: The annual financial statements of Soneri Bank Limited for the year ended December 31, 2016 were approved by the shareholders in its 25th AGM on March 28. The meeting was chaired by Chairman Alauddin Feerasta. The bank declared Rs1.88 billion after-tax profit for the year ended December 31, 2016. The shareholders also approved a cash dividend of Rs1.25 per share, which was recommended by the board of directors in its meeting held on February 15, 2017. Speaking on the occasion, the chairman highlighted that 2016 was the year when the bank completed its 25 years of operations and was standing tall and on course to meet strategic objectives. Deposits grew 13.83% over 2015 and net advances recorded a growth of 11.88%. The bank’s net assets (including surplus) amounted to Rs18.29 billion as of December 31, 2016.

Published in The Express Tribune, March 30^th, 2017.

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