Soneri Bank declares Rs916m profit before tax

KARACHI: The Board of Directors of Soneri Bank Limited in its 155th meeting held on April 17 2017, approved the bank’s first quarterly un-audited financial statements. Bank posted a profit before tax of Rs916.33 million and profit after tax of Rs595.62 million for the first quarter ended March 31 2017. These amounts are higher than the corresponding period last year by 11.43% and 10.46% respectively. These are attributable to higher revenue along with managed expenses. During the period deposits grew by 3.03% closing at Rs.216.28 billion (December 2016: Rs.209.93 billion). Net advances grew by 5.82% to Rs132.60 billion (December 2016: Rs.125.31 billion).The bank’s net assets (including surplus) amounts to Rs17.21 billion as at March 31 2017.   

Published in The Express Tribune, April 18^th, 2017.

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