Soneri Bank announces Half Yearly Results for 2018

Soneri Bank Limited posted a profit before tax of Rs. 1,624.265 million and profit after tax of Rs. 975.982 million for the half year ended 30 June 2018. These amounts are higher than the corresponding period last year by 12.02 percent and 20.22 percent respectively. Earnings per share of the Bank stood at Rs. 0.8853 which is also 20.22 percent higher than corresponding period of 2017. The Board in its 163rd meeting held on 28 August 2018, approved the Bank’s un-audited condensed interim financial statements for the half year ended 30 June 2018.

During the period deposits grew by 7.07 percent closing at Rs. 243.417 billion (December 2017: Rs. 227.348 billion). Net advances grew by 2.39 percent to Rs. 168.219 billion (December 2017: Rs. 164.293 billion). The Bank’s net assets (including surplus) amount to Rs. 18.203 billion as at 30 June 2018.

Soneri Bank continues to operate with adequate liquidity and capital adequacy levels and maintains reputable standing with international financial institutions. The Bank is committed to meet the increasing expectations of its loyal and satisfied client-base through its 290 branches all over the country. The Bank has successfully transformed its Core banking system in the second quarter of 2018 which is enabling the Bank to derive further efficiencies and modernization.