Soneri Bank’s earnings trimmed down

MG News | August 27, 2025 at 03:15 PM GMT+05:00

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August 27, 2025 (MLN): Soneri Bank Limited (PSX: SNBL) has reported a profit after taxation of Rs2.49 billion for the half year ended June 30, 2025, reflecting a 22.36% decline compared to Rs3.21bn in the same period last year.

The bank’s earnings per share (EPS) stood at Rs2.26, lower than Rs2.92 recorded in the corresponding period of 2024.

Despite the decline in net profit, the bank’s total income grew by 14.64%, reaching Rs17.81bn compared to Rs15.54bn last year.

The improvement was largely supported by a 19.48% rise in net markup/return/interest income, which amounted to Rs14.26bn against Rs11.93bn a year earlier.

Non-markup income, however, remained almost flat, posting a marginal decline of 1.39% to Rs3.55bn from Rs3.6bn.

Within this segment, fee and commission income rose 14.28% to Rs2.36bn, dividend income increased 24.22% to Rs140.8m, and gains on securities advanced 29.65% to Rs374.2m.

On the other hand, foreign exchange income fell sharply by 43.93% to Rs608.8m.

Other income recorded growth of 38.12% to Rs67m.

On the expense side, operating expenses surged by 20.10% to Rs11.02bn, while total non-markup/interest expenses increased by 20.74% to Rs11.28bn.

Workers’ Welfare Fund remained stable at Rs133.7m, whereas other charges rose significantly by 279% to Rs125.3m.

Soneri Bank’s profit before taxation stood at Rs6.68bn, reflecting a modest increase of 2.54% over Rs6.52bn last year.

The bank recorded a reversal in credit loss allowances and write-offs, amounting to Rs150.7m compared to Rs322.4m in the corresponding period of 2024.

Statement of Profit and Loss for the Half Year Ended June 30, 2025 (Rs '000')
Particulars	Jun-25	Jun-24	%Change
Mark-up / return / interest earned	43,530,530	56,950,487	-23.56%
Mark-up / return / interest expensed	29,271,841	45,016,863	-34.98%
Net mark-up / interest income	14,258,689	11,933,624	19.48%
Non Mark-up / Interest Income
Fee and commission income	2,364,747	2,069,322	14.28%
Dividend income	140,847	113,386	24.22%
Foreign exchange income	608,786	1,085,845	-43.93%
Gain on securities - net	374,157	288,598	29.65%
Net gains / (loss) on derecognition of financial assets (amortised cost)	–	–
Other income	67,011	48,518	38.12%
Total non mark-up / interest income	3,555,548	3,605,670	-1.39%
Total Income	17,814,237	15,539,294	14.64%
Non Mark-up / Interest Expenses
Operating expenses	11,021,061	9,176,689	20.10%
Workers’ Welfare Fund	133,697	133,040	0.49%
Other charges	125,320	33,059	279.08%
Total non mark-up / interest expenses	11,280,078	9,342,788	20.74%
Profit before credit loss allowance	6,534,159	6,196,506	5.45%
Credit loss allowance / provisions and write offs - net	(150,680)	(322,445)	-53.27%
Extra ordinary / unusual items	–	–
Profit Before Taxation	6,684,839	6,518,951	2.54%
Taxation	4,187,940	3,302,978	26.79%
Profit After Taxation	2,496,899	3,215,973	-22.36%
Basic and diluted earnings per share	2.2648	2.9171	-22.36%

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