April 24, 2019 (MLN): Soneri Bank Limited (SNBL)’s net profit for the quarter ended March 31, 2019 has been reported at Rs.723 million (EPS: Rs.0.6561) which is a decent improvement of 9.6% compared to the results recorded in the corresponding quarter, last year.
The bank’s net mark-up/return/interest income (Rs.2 billion) grew by 22.5% while total non-mark-up/interest income (Rs.665.3 million) dropped by 28% on a year-on-year basis, on account of net losses on sale of securities and considerable decline of 31% in foreign exchange income which stands at Rs.150.9 million.
Despite this, the bank’s total income Rs.2.7 billion grew by 4.4% over the year, this quarter. On the other hand, total expenses Rs.2.1 billion grew by 16.4%.
Profit and Loss account for the quarter ended March 31, 2019 ('000 Rupees) |
|||
---|---|---|---|
|
Mar-19 |
Mar-18 |
% Change |
Mark-up/return/interest earned |
7,495,098 |
4,657,512 |
60.92% |
Mark-up/return/interest expensed |
5,434,872 |
2,975,537 |
82.65% |
Net mark-up/return/interest income |
2,060,226 |
1,681,975 |
22.49% |
Non mark-up/interest income |
|
|
|
Fee and commission income |
455,288 |
410,456 |
10.92% |
Dividend income |
55,493 |
47,197 |
17.58% |
Foreign exchange income |
150,933 |
218,951 |
-31.07% |
(Loss) / Gain on sale of securities – net |
(4,541) |
244,353 |
|
Other income |
8,095 |
8,682 |
-6.76% |
Total non-mark-up/interest income |
665,268 |
929,639 |
-28.44% |
Total income |
2,725,494 |
2,611,614 |
|
Non mark-up/interest expense |
|
|
|
Operating expenses |
2,072,602 |
1,783,687 |
16.20% |
Workers' welfare fund |
25,515 |
22,805 |
|
Other charges |
3,691 |
– |
#DIV/0! |
Total non-mark-up/interest expenses |
2,101,808 |
1,806,492 |
16.35% |
Profit before provisions |
623,686 |
805,122 |
|
(Reversals) / provisions and write-offs – net |
(577,354) |
(210,681) |
|
Extraordinary / unusual items |
– |
– |
|
Profit before taxation |
1,201,040 |
1,015,803 |
18.24% |
Taxation |
477,733 |
355,791 |
34.27% |
Profit after taxation |
723,307 |
660,012 |
9.59% |
Earnings per share – basic and diluted (rupees) |
0.6561 |
0.5987 |
9.59% |
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