Soneri Bank Ltd. profits rise 10.81 percent to Rs. 660 million

MG News | April 20, 2018 at 05:42 PM GMT+05:00

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Soneri Bank Limited (SNBL) today announced financial results for the quarter ending 31 March, 2018 reporting Net Spread earned worth Rs. 1.735 billion. Furthermore, the company’s net income after provisions during the outgoing three months rose by 36 percent to reach 1.946 billion.

Among other heads, Fee Commission and Brokerage Income went up by 20.84 percent during the period, Dividend Income went down by 19.05 percent and Income from foreign currencies jumping by 150 percent during the reported period.

On the expenses front, total non-mark-up expenses during the quarter rose by 6.45 percent to clock in at 1.806 billion.

Bank of Khyber reported profit after taxation at Rs. 660.012 million up by 10.81 percent from 595.623 million last year translating into an EPS of Rs. 0.5987 vs. an EPS of Rs 0.5403 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Net mark-up/return/interest earned	1,735,684	1,609,525	7.84%
Net mark-up/return/interest earned after provisions	1,946,365	1,433,371	35.79%
Fee, commission and brokerage income	410,456	339,673	20.84%
Dividend Income	47,197	39,646	19.05%
Income from Foreign Currencies	165,242	66,150	149.80%
Capital gain on sale of securities - net	243,591	731,963	-66.72%
Other income	8,682	7,810	11.17%
Total non-mark-up/interest income	875,930	1,179,978	-25.77%
Administrative Expenses	1,783,687	1,673,964	6.55%
Other provisions - net	-	-
Other charges/reversals	22,805	23,055	-1.08%
Total non-mark-up/interest expenses	1,806,492	1,697,019	6.45%
Profit before Taxation	1,015,803	916,330	10.86%
Taxation	355,791	320,707	10.94%
Profit after Taxation	660,012	595,623	10.81%
EPS - Basic and diluted	0.5987	0.5403	10.81%

Company release on Earnings Report can be accessed here.

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