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

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 30th 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.

Posted on: 2018-04-20T17:42:00+05:00