Soneri Bank earns Rs 2.21b profit in 2015

The Pak Banker - - FRONT PAGE -

LA­HORE: The Soneri Bank Lim­ited has de­clared Rs 2.21 bil­lion af­ter tax profit for the year ended De­cem­ber 31, 2015.

The dec­la­ra­tion was made dur­ing the 24th An­nual General Meet­ing of the bank which was chaired by Chair­man of the Bank, Alaud­din Feerasta and at­tended by the share­hold­ers.

Dur­ing the meet­ing, the an­nual fi­nan­cial state­ments of Soneri Bank Lim­ited for the year ended De­cem­ber 31, 2015 were ap­proved by the share­hold­ers.

The share­hold­ers also ap­proved a cash div­i­dend of Rs 1.25 per share, which was rec­om­mended by the Board of Direc­tors in their meet­ing held on 11 Fe­bru­ary 2016. The Chair­man briefed the share­hold­ers that key rea­sons for bet­ter per­for­mance in 2015 were con­tin­ued fo­cus on core area of ac­tiv­ity, ad­vances, de­posits and trade and strate­gic po­si­tion­ing which al­lowed the Bank to en­hance its earn­ings from both in­vest­ments and non­markup sources. To­tal de­posits as re­ported in the an­nual au­dited ac­counts, re­flect­ing sound growth of 13.46 closed at Rs 185.22 bil­lion while net ad­vances at the end of the year 2015 amounted to Rs 112.00 bil­lion, be­ing up by 3.74 per­cent.

Re­sul­tantly, the net as­sets closed at Rs 18.19 bil­lion thus trans­lat­ing into a growth of 6.76 per­cent from the 2014 level. Dur­ing the year, the Bank is­sued Listed Term Finance Cer­tifi­cates (TFC 2) worth Rs 3.00 bil­lion. It was suc­cess­fully closed and was over­sub­scribed by Rs 810 mil­lion (1.3 times) as it was struc­tured as Pre-IPO sub­scrip­tion of Rs 2.25 bil­lion and IPO of Rs 0.75 bil­lion.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.