SNBL 1HCY26 profit drops slightly to Rs2.4bn

August 19, 2026 (MLN): Soneri Bank Limited (PSX: SNBL) reported a mild 4% decline in its net profit for the half-year ended June 30, 2026 (1HCY26), recording Rs2.40bn compared to Rs2.50bn in the corresponding period last year.

Reflecting this slight bottom-line compression, the bank's basic and diluted earnings per share (EPS) stood at Rs2.17 for the half-year, compared to Rs2.26 in 1HCY25.

The primary factor weighing on performance was a compression in net mark-up income.

Mark-up/interest earned fell by 7% to Rs40.38bn, while mark-up expensed contracted by 1% to Rs28.95bn. As a result, net mark-up income contracted by 20% year-on-year to Rs11.44bn compared to Rs14.26bn in 1HCY25.

However, the bank’s non-markup revenue streams posted strong growth.

Total non-mark-up income surged by 51% to Rs5.37bn (up from Rs3.56bn), spearheaded by a 3.7x jump in securities gains to Rs1.39bn and a 2.9x rise in foreign exchange income to Rs1.33bn.

Fee and commission income also grew by 3% to Rs2.43bn. This non-interest boost limited the decline in total income to just 6%, settling at Rs16.80bn.

On the expense side, operating expenses rose by 19% to Rs13.09bn, pushing total non-mark-up expenses up 17% to Rs13.20bn. Consequently, profit before credit loss allowance fell 45% to Rs3.61bn.

Below the pre-provision line, SNBL benefited from higher credit loss provisions.

Net credit loss allowances and write-offs expanded to Rs1.19bn (up from Rs150.68m in 1HCY25). Despite this increase in provisions, profit before taxation stood at Rs4.79bn.

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