Soneri Bank’s profit surges to Rs975m

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Soneri Bank Limited on Wednesday approved the bank’s condensed interim financial statements for the half-year ended 30 June 2019.

The bank posted a profit before tax (PBT) of Rs1.63 billion and profit after tax of Rs975 million for the half-year ended 30 June 2019, as compared to Rs1.62 billion and Rs976 million respectively in the same period last year.

The earning per share for the period under review was reported at Rs0.8844 as against Rs0.8853 for the same period last year.

The bank’s net advances portfolio grew by 7.55pc to Rs200.5 million. Non-performing loans decreased by 5.51pc, from Rs11,357 million on 31 December 2018, to Rs10,731 million on 30 June 2019; thereby improving the infection ratio from 5.83pc to 5.16pc.

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