Soneri Bank Announces Interim Dividend and Half-Year Financial Results

Karachi: Soneri Bank Limited’s Board of Directors approved its half-yearly financial statements in the 206th meeting held in Karachi on August 23, 2024. The financials cover the period ending June 30, 2024, where the board also declared an interim cash dividend of PKR1.25 per share.

According to information available from the Pakistan Stock Exchange (PSX), the bank reported a net markup/interest income of PKR 11.60 billion for the first half of 2024, an increase from the PKR 10.12 billion recorded in the same period last year. The total income for the half year rose to PKR 15.20 billion, up from PKR 13.01 billion in the first half of 2023.

Non-markup/interest income also showed growth, totaling PKR 3.61 billion for the half-year, boosted by fee and commission income, which more than doubled from the previous year to PKR 2.07 billion. The bank’s operational expenses totaled PKR 8.87 billion, compared to PKR 6.92 billion in the prior year.

Profit before taxation stood at PKR 6.49 billion, a significant increase from PKR 5.21 billion in the first half of 2023. After accounting for taxation, the profit after taxation reached PKR 3.20 billion, marking an improvement from PKR 2.53 billion in the previous year.

The bank’s earnings per share also rose to PKR 2.91, up from PKR 2.29 in the first half of 2023. No bonus or right shares were announced, and the Share Transfer Books of the bank will remain closed from September 4, 2024, to September 6, 2024, for entitlement processing.

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