Corporate Corner: Soneri Bank announces third quarterly results for 2018

Earnings per share of the bank stood at Rs1.1734, which is also 5.06% higher than period in 2017

KARACHI: Soneri Bank Limited posted a profit before tax of Rs2,167.3 million and profit after tax of Rs1,293.6 million for the nine-month period ended September 30, 2018. The same was 3.22% and 5.06% higher than the corresponding period last year. Earnings per share of the bank stood at Rs1.1734, which is also 5.06% higher than the corresponding period of 2017. The board in its 164th meeting held on October 26, 2018, approved the bank’s un-audited condensed interim financial statements for the nine-month period ended September 30, 2018. During the period, deposits grew by 6.11%, closing at Rs241.229 billion (December 2017: Rs227.348 billion). Net advances grew by 5.7% to Rs173.6066 billion (December 2017: Rs164.293 billion). The bank’s net assets (including surplus) amount to Rs18.172 billion as on September 30, 2018. The bank has successfully transformed its core banking system in the second quarter of 2018.  

Published in The Express Tribune, October 27^th, 2018.

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