Soneri Bank Limited has released its impressive financial
results for the nine months, as approved by the Board of Directors during their
200th meeting in Karachi on Monday.
The bank demonstrated remarkable earnings growth, with a Profit before Tax (PBT) of Rs. 8,437 million for the nine-month period ending on September 30, 2023, compared to Rs. 3,348 million for the same period in the previous year. This represents a substantial year-on-year growth of 152.01 percent.
Profit after Tax (PAT) also experienced a significant upswing during the current period, reaching Rs. 4,145 million, as opposed to Rs. 1,295 million in the comparative period last year, reflecting a remarkable growth of 220.04 percent year-on-year. The bank reported an Earnings Per Share (EPS) of Rs. 3.7595 per share for the current period, a substantial increase from Rs. 1.1747 earned for the same period in the previous year.
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Fund-based income continued to improve, supported by enhanced spreads and prudent asset and liability management. The bank's Net Interest Income (NII) surged by 107.52 percent to reach Rs. 16,101 million for the current period, compared to Rs. 7,759 million reported for the corresponding period last year.
Non-markup income (NMI) for the period also displayed growth, with NMI reaching Rs. 4,660 million, in comparison to Rs. 4,067 million for the preceding period, signifying a growth of 14.58 percent.
Source: Pakistan Observer