Soneri Bank Reports No Change in Shareholder Entitlements for Third Quarter

Karachi: Soneri Bank Limited has officially released its financial results for the third quarter and the first nine months of the year ended September 30, 2024. The results, declared during the 207th meeting of its Board of Directors, show a consistent financial trajectory but no new entitlements or dividends for shareholders.

The meeting, held on October 16, 2024, at the Soneri Bank headquarters in Karachi, covered the financial performance of the bank up to the end of September. According to information available from the Pakistan Stock Exchange (PSX), the Board has recommended no cash dividends, bonus shares, right shares, or any other corporate actions, keeping shareholder entitlements unchanged.

Financially, Soneri Bank has recorded a profit after taxation of 1.51 billion rupees for the third quarter, marking a slight improvement over the corresponding period in the previous year. For the nine months ended September 30, 2024, the profit after taxation stood at 4.72 billion rupees. This represents a modest increase from 4.14 billion rupees in the previous year.

The bank’s primary revenue, mark-up/return/interest earned, was reported at 31.00 billion rupees for the quarter, compared to 25.92 billion rupees in the same quarter the previous year. On the expenses side, mark-up/return/interest expensed amounted to 24.35 billion rupees, with operating expenses accounting for an additional 4.94 billion rupees.

The total income for the bank, after accounting for non-mark-up/interest income, was noted at 8.27 billion rupees for the quarter. This figure consolidates the bank’s revenue streams from fees, commissions, foreign exchange, and gains on securities, which collectively contributed to non-mark-up/interest income of 1.62 billion rupees.

Soneri Bank’s continued stability in its financial results and strategic decision not to adjust shareholder entitlements reflect its steady position in the current economic landscape. The full quarterly report will be available through the Pakistan Stock Exchange system within the specified timeframe, as mandated by regulations.

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