Soneri Bank profit shrinks to Rs3bn in 9M

October 26, 2026 (MLN): Profit after taxation of Soneri Bank Limited (PSX: SNBL) fell 10.97% year-on-year to Rs2.94bn for the nine months ended September 30, 2026, compared with Rs3.30bn in the same period last year.

Basic and diluted earnings per share (EPS) declined 10.97% to Rs2.67 from Rs3.00 in the corresponding period last year.

The decline came from a 16% drop in net interest income and a 15.67% rise in non-markup expenses. A credit loss reversal against a charge last year, a 16.53% rise in non-markup income and a 51.03% lower tax charge partly cushioned the impact.

Mark-up/return/interest earned fell 3.02% to Rs62.44bn from Rs64.38bn, while interest expensed rose 3.49% to Rs44.91bn from Rs43.39bn. Net mark-up/interest income declined 16.46% to Rs17.53bn from Rs20.99bn.

Foreign exchange income grew 71.61% to Rs1.95bn from Rs1.13bn, fee and commission income rose 3.96% to Rs3.75bn from Rs3.60bn, and gain on securities increased 4.50% to Rs1.62bn from Rs1.55bn.

Dividend income climbed 14.26% to Rs160.93m from Rs140.85m, and other income rose 37.69% to Rs118.01m from Rs85.71m.

As a result, total non-markup income grew 16.53% to Rs7.60bn from Rs6.52bn. Even so, total income declined 8.64% to Rs25.13bn from Rs27.51bn.

Operating expenses increased 18.53% to Rs20.49bn from Rs17.28bn, while Workers’ Welfare Fund fell 37.26% to Rs120.54m from Rs192.12m and other charges plunged 96.88% to Rs10.90m from Rs349.78m. Total non-markup expenses rose 15.67% to Rs20.62bn from Rs17.82bn.

Profit before credit loss allowance fell 53.39% to Rs4.51bn from Rs9.68bn.

A net reversal of credit loss allowance and write-offs of Rs1.51bn, against a net charge of Rs77.97m last year, took profit before taxation to Rs6.03bn, down 37.25% from Rs9.60bn.

Taxation fell 51.03% to Rs3.09bn from Rs6.30bn, which limited the bottom-line decline and left profit after taxation at Rs2.94bn.

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