The Board of Directors of Soneri Bank Limited, in their 211th meeting held in Karachi on 27 August 2025, approved the Bank’s condensed interim financial statements for the half year ended 30 June 2025.
The results reflect consistent and sustained performance despite declining spreads. The Bank posted a profit before tax (PBT) of Rs. 6,685 million and profit after tax (PAT) of Rs. 2,497 million for the half year ended 30 June 2025, compared to Rs. 6,519 million and Rs. 3,216 million respectively in the corresponding period last year. Earnings per share (EPS) stood at Rs. 2.2648 per share for the current reporting period, compared to Rs. 2.9171 for the prior period. The decline was primarily due to additional taxation on banking companies introduced through the Income Tax (Amendment) Ordinance, 2024, which resulted in an effective tax rate of 62.65 percent (30 June 2024: 50.67 percent).
The Bank’s net interest income improved to Rs. 14,259 million from Rs. 11,934 million in the corresponding period last year, reflecting strong growth of 19.5 percent, driven by improved business volumes. Non-interest income was recorded at Rs. 3,556 million compared to Rs. 3,606 million in the prior period, showing a marginal decline of 1.4 percent, mainly due to reduced FX related income. However, this was offset by higher digital banking income and trade related commissions, supported by improved trade business volumes. Consequently, the overall revenue of the Bank increased by Rs. 2,275 million, or 14.6 percent compared to the same period last year.
Non-markup expenses were reported at Rs. 11,280 million for the current half year, against Rs. 9,343 million for the comparative prior period. Despite high inflationary pressures and ongoing branch expansion drive, expenses growth was contained at 20.73 percent owing to strict cost rationalization measures and prudent cost control policies. Continuing its strategic footprint expansion, the Bank is now operating with a network of 572 branches (31 December 2024: 544 branches).