{"id":4623,"date":"2025-04-17T10:23:03","date_gmt":"2025-04-17T05:23:03","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=4623"},"modified":"2025-04-17T10:23:03","modified_gmt":"2025-04-17T05:23:03","slug":"soneri-bank-posts-rs-1-15-billion-profit-after-tax-in-q1-2025","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=4623","title":{"rendered":"Soneri Bank Posts Rs 1.15 Billion Profit After Tax in Q1-2025"},"content":{"rendered":"

KARACHI \u2013 April 17, 2025<\/em> \u2014 Soneri Bank Limited<\/a> announced its financial results for the quarter ended March 31, 2025, following the approval of its condensed interim financial statements by the Board of Directors at its 210th meeting held in Karachi.<\/p>\n

The Bank reported a Profit Before Tax (PBT)<\/strong> of Rs 3.34 billion<\/strong> and Profit After Tax (PAT)<\/strong> of Rs 1.15 billion<\/strong> for Q1 2025, reflecting a decline from Rs 3.55 billion<\/strong> and Rs 1.76 billion<\/strong> respectively in the same period last year. The decline in PAT is largely attributed to the increased tax burden following the implementation of the Income Tax (Amendment Ordinance), 2024<\/strong>, which raised the effective tax rate for banking companies to 65.62%<\/strong>, compared to 50.48%<\/strong> in Q1 2024.<\/p>\n

Earnings per share (EPS)<\/strong> stood at Rs 1.0406<\/strong> for the quarter, down from Rs 1.5965<\/strong> in the corresponding period of 2024.<\/p>\n

Despite narrowing spreads, the Bank posted net interest income<\/strong> of Rs 7.29 billion<\/strong>, a growth of 24.62%<\/strong> compared to Rs 5.85 billion<\/strong> in Q1 2024, driven by improved volumes. Non-interest income<\/strong> slightly dipped to Rs 1.56 billion<\/strong>, compared to Rs 1.60 billion<\/strong> in the prior period, due to lower foreign exchange-related income. However, this was partially offset by an increase in fee and commission income.<\/p>\n

Operating expenses<\/strong> rose to Rs 5.22 billion<\/strong>, an 18.93%<\/strong> increase from Rs 4.39 billion<\/strong> last year. This increase was contained despite high inflation and continued branch network expansion, thanks to the Bank\u2019s strict cost rationalization and control measures.<\/p>\n

As of March 31, 2025, Soneri Bank operates a network of 551 branches<\/strong>, up from 544<\/strong> at year-end 2024, reflecting its strategic focus on footprint expansion.<\/p>\n

The Bank\u2019s total deposits<\/strong> grew by 5.17%<\/strong> over the previous quarter, closing at Rs 571.23 billion<\/strong>, with the CASA (Current Account Savings Account) mix<\/strong> improving to 83.13%<\/strong>, compared to 81.94%<\/strong> as of December 31, 2024.<\/p>\n

The net advances portfolio<\/strong> stood at Rs 197.86 billion<\/strong>, down 18.70%<\/strong> from year-end 2024 levels. Meanwhile, net investments<\/strong> rose by 21.01%<\/strong>, increasing by Rs 80.73 billion<\/strong> to Rs 465.03 billion<\/strong>.<\/p>\n

The Bank\u2019s Non-Performing Loans (NPL) to total advances ratio<\/strong> rose to 3.95%<\/strong>, from 3.13%<\/strong> at year-end, while specific coverage<\/strong> was maintained at 89.63%<\/strong>. Overall coverage, including Expected Credit Losses under IFRS 9, improved to 103.93%<\/strong>.<\/p>\n

Soneri Bank remains well-capitalized, reporting a Capital Adequacy Ratio (CAR)<\/strong> of 15.25%<\/strong> as of March 31, 2025.<\/p>\n

The Bank reiterated its commitment to enhancing shareholder<\/a> value through a customer-centric strategy aimed at meeting the evolving needs of clients across all segments.<\/p>\n","protected":false},"excerpt":{"rendered":"

KARACHI – April 17, 2025 — Soneri Bank Limited announced its financial results for the quarter ended March 31, 2025, following the approval of its condensed interim financial statements by the Board of Directors at its 210th meeting held in Karachi. The Bank reported a Profit Before Tax (PBT) of Rs 3.34 billion and Profit […]<\/p>\n","protected":false},"author":1,"featured_media":4624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1299],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t