The Board of Directors of Soneri Bank Limited, in their 183rd meeting held on 17th February 2021, approved the Bank’s financial statements for the year ended 31 December 2020. The Bank posted profit before tax (PBT) of Rs. 4,035 million (4.035 billion) and profit after tax (PAT) of Rs. 2,400 million in the year 2020, as compared to Rs. 3,247 million and Rs. 1,906 million respectively in 2019, reflecting a growth of 24.27 percent and 25.93 percent respectively. The Bank’s EPS has improved to Rs. 2.1772 per share in 2020 from Rs. 1.7289 per share in 2019. The Board of Directors has also recommended cash dividend for the year ended 31 December 2020 @ 12.50 percent i.e. Rs. 1.25 per share. The Bank’s Net Interest Income (NII) was reported at Rs. 10,655 million, improving by 34.43 percent year on year, driven by volumetric increase and maintained spreads. Non fund based income (NFI) was reported at Rs. 3,807 million, indicating a year on year growth of 33.08 percent. Profit before provisions and taxation for the year ended 31 December 2020, was reported at Rs. 5,436 million, reflecting an impressive growth of 104.54 percent against the corresponding year. Growth in expenses was restricted at 11.03 percent, as compared to the prior year, with Non-markup expenses reported at Rs. 9,026 million for the year ended 31 December 2020. The Bank’s net advances portfolio stood at Rs. 164,545 million as at 31 December 2020, 19.70 percent lower than the year end 2019 level. However, net investments witnessed a significant volumetric increase of Rs. 72,900 million or 41.17 percent as against the prior year ending at Rs. 249,956 million as at 31 December 2020.The Bank’s Non-Performing Advances to total Advances ratio stands at 6.25 percent at 31 December 2020 (December 2019: 5.13 percent), while specific coverage has improved to 75.16 percent (December 2019: 69.46 percent). Deposits registered a healthy growth of Rs. 43,416 million or 14.37 percent year on year, and were reported at Rs. 345,499 million as at 31 December 2020. The Bank remains adequately capitalized, with CAR of 16.97 percent at 31 December 2020. The Board of Directors recognized and appreciated the efforts of the management in delivering improved performance amidst challenging times. The Board remains confident that the Bank shall continue to protect and serve the interest of all stakeholders by fulfilling the growing banking needs of our society, and focusing on financial inclusion and customer satisfaction.