The strong profitability augmented by the non-markup income stream comfortably absorbed the pressures from NPL provisioning and increased expense base and resulted in recording an encouraging growth in the post-tax profits for the third quarter performance of the Bank.

The above results were announced along with a declaration of 12.5% bonus shares by the Board. Incorporating the above declaration with the discounted right issue completed earlier this year, the Bank will sufficiently comply with State Bank’s Minimum Capital Requirement for the year 2011.

Soneri Bank is amongst the fastest growing trade oriented bank operating with a branch network of 186 branches in all provinces of Pakistan. The Bank has planned to increase its total branch network to over 200 branches in year 2011 and is determined to provide innovative and value-added services to its expanding client base.