KARACHI: Soneri Bank Limited has reported a profit-before-tax of Rs949.73 million and profit-after-tax of Rs613.28 million for the first quarter of calendar year (CY) 2015 ended March 31.
The Board in its 143rdmeeting held has approved the Bank’s first quarterly un-audited financial statements. During the corresponding period, Bank’s net revenue rose by 28.31 per cent to Rs2.61 billion, from last year’s figure of Rs2.03 billion. Bank’s Net assets amounted to Rs17.26 billion as at 31 March 2015, being 1.33 percent higher than 2014 base of Rs17.04 billion. Deposits are almost at 2014 year end position standing at Rs162.73 billion and Net advances are down by 6.48% toRs.99.20 billion due to seasonal factors.
The Bank continues to follow a prudent policy for making provisions for the infected loan portfolio in line with regulatory requirements.
Soneri Bank has a unique market position in trade-finance and transactions banking services and boasts a loyal and satisfied client-base in all its 246 branches all over the country. The Bank is committed to meet the increasing expectations of its customers and continue to provide them par-excellence services, for which the bank has been investing prudently in information technology, human resources, marketing and infrastructure.
Chairman Alauddin Feerasta appreciated the Bank’s continued positive performance during the quarter and expressed satisfaction on the record profit posted.
