Soneri Bank Limited posted a profit before tax of Rs 822.31 million and a profit after tax of Rs 539.21 million for the first quarter ended 31 March 2016. The Board in its 149th meeting held on Wednesday, approved the Bank's first quarterly un-audited financial statements. Deposits grew by 5.61 percent during the period closing at Rs 195.62 billion (December 2015: Rs 185.22 billion). Net Advances are almost at 2015 year end position standing at Rs 112.76 billion (December 2015: Rs 112.00 billion).
The Bank's Net assets (including surplus) amounts to Rs 17.60 billion as at 31 March 2016. The Bank continues to follow a prudent policy of making provisions against infected loan portfolio in line with regulatory requirements Soneri Bank has a unique market position in trade-finance and transactions banking services and boasts a loyal and satisfied client-base in all its 266 branches all over the country.
The Bank is committed to meet the increasing expectations of its customers and continue to provide them par-excellence services, for which the bank has been investing prudently in information technology, human resources, marketing and infrastructure.-PR