The Board of Directors of Soneri Bank Limited, in their 186th meeting held in Lahore on 24th August 2021, approved the Bank’s condensed interim financial statements for the half year ended 30 June 2021.

The Bank posted profit before tax (PBT) of Rs. 3,027 million and profit after tax (PAT) of Rs. 1,822 million for the half year ended June 2021, as compared to Rs. 1,931 million and Rs. 1,129 million respectively in the same period last year. The Bank’s EPS was recorded at Rs. 1.65 per share for the current reporting half year, as compared to Rs. 1.02 for the comparative prior period, indicating an impressive growth of 61.36 percent. The Bank’s Net Interest income for the half year was reported at Rs. 5,705 million, improving by 6.54 percent against Rs. 5,355 million reported for the same period last year. Growth in expenses was restricted at 12.19 percent as compared to the prior period with Non-markup expenses reported at Rs. 5,000 million for the half year ended 30 June 2021.

As at 30 June 2021, the Bank’s net advances portfolio stood at Rs. 175,127 million, 6.43 percent higher than the year end 2020 level. Net investments also ended higher by 16.63 percent and closed at Rs. 291,520 million as compared to year end 2020.

Total Deposits registered a slight decline of 2.51 percent when compared to 31 December 2020, ending at Rs. 336,819 million at 30 June 2021, as certain high cost deposits were strategically shed with a focus on CASA mix improvement. As a result, period end CASA mix improved to 74.73 percent as against 68.65 percent at December 2020, while total CASA improved to Rs. 251,721 million from Rs. 237,198 million at December 2020. More importantly, the Bank’s CA mix improved to 31.48 percent as against 26.56 percent at December 2020, with period end Current Accounts at Rs. 106,038 million as against Rs. 91,770 million at December 2020.

The Bank continues to remain adequately capitalized, with CAR of 16.23 percent as at 30 June 2021.

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.

The Board of Directors of Soneri Bank Limited, in their 184th meeting held in Lahore on 28th April 2021, approved the Bank’s condensed interim financial statements for the quarter ended 31 March 2021.

The Bank posted profit before tax (PBT) of Rs. 1,276 million and profit after tax (PAT) of Rs. 782 million for the quarter ended March 2021, as compared to Rs. 684 million and Rs. 407 million respectively in the same period last year. The Bank’s EPS was recorded at Re. 0.7092 per share for the current reporting quarter, as compared to Re. 0.3696 for the comparative prior period, indicating an impressive growth of 92 percent. The Bank’s Net Interest income for the quarter was reported at Rs. 2,720 million, improving by 28.98 percent against Rs. 2,109 million reported for the same period last year. Non-interest income for the period was reported at Rs. 961 million as against Rs. 1,168 million for the comparative prior period. Overall income of the Bank indicated an improvement of Rs. 404 million, or 12.32 percent, year on year.

Growth in expenses was restricted at 11.88 percent as compared to the prior period with Non-markup expenses reported at Rs. 2,528 million for the current quarter.

As at 31 March 2021, the Bank’s net advances portfolio stood at Rs. 199,787 million, 21.42 percent higher than the year end 2020 level. Net investments also ended higher by 10.33 percent and closed at Rs. 275,773 million at the quarter end.
Deposits registered a slight decline of 2.30 percent when compared to 31 December 2020, ending at Rs. 337,569 million as at 31 March 2021, mainly due to fall in high cost deposits.

The Bank continues to remain adequately capitalized, with CAR of 15.37 percent as at 31 March 2021.
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.

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 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.

The Pakistan Credit Rating Agency Limited, “PACRA” has maintained the rating of Soneri Bank Limited’s Unsecured, Sub-ordinated and Listed Term Finance Certificates (2nd issue) of PKR 3,000 million at A+ (single A Plus). This rating has been accredited by PACRA, on 18 December 2020.

The rating is a function of bank’s ability to maintain its market position in the banking industry while strengthening its overall risk profile. Soneri Bank continues to serve its customers through a network of over 300 branches and ATMs across the country.

Soneri Bank Limited has signed the Credit Guarantee Agreement with Pakistan Mortgage Refinance Company (PMRC) for providing and promoting affordable housing finance to those from the low income segment in the country. With this, Soneri Bank Limited is actively pursuing the construction and housing initiatives as promoted by Government of Pakistan.
PMRC is a public company, established by Government of Pakistan with the primary objective of promoting and developing house finance initiatives in Pakistan. and providing refinance facilities to banks and financial institutions. Soneri Bank Limited took this remarkable initiative to support the people of Pakistan.

The signing ceremony was chaired by Governor SBP, Mr Reza Baqir and attended by senior executives from PMRC and top executives from Soneri Bank Limited and banks across Pakistan.Mr Muhtashim Ahmad Ashai, CEO & President Soneri Bank Limited and Mr Abdul Aleem Qureshi, Head of Commercial and Retail Banking Group also participated in the ceremony.

Soneri Bank with its network of over 300 Branches and ATMs nationwide is equipped with the latest market intelligence and dedicated workforce is geared to work towards providing quality financial solutions to its customers. The Bank looks forward to provide the customers with products and services to best fit their financial needs. Soneri Bank’s house finance facility aims to assist people in buying and constructing homes for the collective growth of the economy.

Soneri Bank with its mission to provide innovative and efficient financial solutions is all set to adapt to changing marketing trends in the economy and make a difference in customer experience so they stay Roshan Har Qadam!

The Board of Directors of Soneri Bank Limited, in their 179th meeting held in Karachi on 26th August 2020, approved the Bank’s condensed interim financial statements for the half year ended 30 June 2020.

The Bank posted profit before tax (PBT) of Rs. 1,931 million and profit after tax (PAT) of Rs. 1,129 million for the half year ended June 2020, as compared to Rs. 1,633 million and Rs. 975 million respectively in the same period last year. The Bank’s EPS was recorded at Rs. 1.0243 per share for the current reporting period, as compared to Re. 0.8844 for the comparative prior period.

Profit before provisions and taxation was reported at Rs. 2,960 million for 1H2020, indicating an impressive growth of 207 percent from the level of Rs. 964 million for the corresponding prior period.

The Bank’s net advances portfolio stood at Rs. 198,542 million as at 30 June 2020, 3 percent lower than the year end 2019 level. Non-performing loans decreased from Rs. 10,903 million on 31 December 2019 to Rs. 10,682 million on 30 June 2020.

Net investments witnessed a volumetric increase of Rs. 47,761 million or 27 percent from the year-end balance of Rs. 177,056 million, ending at Rs. 224,817 million as at 30 June 2020.

The Deposit portfolio registered a healthy growth of Rs. 21,371 million or 7.07 percent when compared to 31 December 2019, ending at Rs. 323,454 million as at 30 June 2020.

The Board of Directors recognized and appreciated the efforts of the management in delivering steady performance amidst a challenging environment. In particular, the Board appreciated the services of the Bank’s front line staff, who have helped ensure continuity of services for our customers during the uncertain times following the COVID-19 outbreak. 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.

From Left to right – first row:
Mr. Abdul Aleem Qureshi – Head CRBG Soneri Bank, Mr. Amin A. Feerasta – Deputy CEO Soneri Bank,
Mr. Muhtashim Ahmad Ashai – President & CEO Soneri Bank, Mr. Mir Adil Rashid – CEO HBL Asset Management Limited

From Left to right – second row:
Mr. Agha Abbas – Soneri Bank, Mr. Muhammad Haris Naeem – Senior Manager, Wealth Management Soneri Bank, Mr. Raheel Shakil – Head Wealth Management Soneri Bank, Mr. Noman Qurban – CFO & Company Secretary, HBL Asset Management Limited

HBL Asset Management Limited (HBL AMC) is a wholly owned subsidiary of HBL. The company launched its first fund in 2007 and has developed a track record of strong and consistent growth over the past decade. With a nationwide foot print of retail and corporate clients, HBL AMC is one of the largest private fund management company in the country. Product suite includes both Conventional and Shariah compliant products. Managing 19 Funds comprising of 17 Mutual Funds and 2 Pension Funds. HBL Asset Management is rated AM2+(JCR-VIS).

Soneri Bank with its mission to provide innovative and efficient financial solutions is onboard to adapt to changing marketing trends in the world economy and make a difference in customer experience.

Mr. Amin A Feerasta, Deputy CEO, Mr. Muhtashim Ahmad Ashai, President & CEO, Mr. Abdul Aleem Qureshi, Head – CRBG, and (Back Row): Mr. Asif Moeed, Manager Ops & Coordination, Mr. Raheel Shakil, Head of Wealth Management, Ms. Aisha Arif Lodhi, Business Manager.

EFU Life is a leading life insurance company in Pakistan and a key player in driving the inclusive insurance market for financial inclusion in Pakistan. As part of the largest insurance group in Pakistan, EFU Life protects millions of Pakistani’s through various insurance products.

Speaking at the occasion, Mr. Muhtashim Ashai, President & CEO of Soneri bank said: “This partnership with EFU Life is important to the bank as it will bring an opportunity for Soneri Bank to provide one window banking solutions to our customers as well as build proposition for long-term relationships with them. The bank is on its track to progress and such strategic alliances will result in innovative products and services for our customers.”

Speaking at the occasion, Mr. Taher G. Sachak, Managing Director & Chief Executive Officer EFU Life, said “It gives an immense pleasure to have Soneri Bank on board as our strategic partner to launch a range of life insurance products. This partnership will provide both of us an opportunity to contribute towards the goal of financial inclusion through focused insurance solutions for various customer segments available at the entire Soneri Bank network. The penetration of life insurance is still too low i.e. 0.56% of total GDP and by launching such inclusive products, both organizations can work towards bringing large population of Pakistan in the financial safety net.”

With this strategic alliance, Soneri Bank looks forward to serving its customers with top-of-the-line insurance products and cater to the needs and provide best financial solutions.

The Board of Directors of Soneri Bank Limited, in their 176th meeting held in Lahore on 23rd April 2020, approved the Bank’s condensed interim financial statements for the quarter ended 31 March 2020.

The Bank posted profit before tax (PBT) of Rs. 684 million and profit after tax (PAT) of Rs. 407 million for the quarter ended March 2020, as compared to Rs. 1,149 million and Rs. 691 million respectively in the same period last year. The Bank’s EPS was recorded at Re. 0.3696 per share for the current reporting quarter, as compared to Re. 0.6271 for the comparative prior period.

Profit before provisions and taxation was reported at Rs. 1,017 million for Q12020, indicating an impressive growth of 78 percent from the level of Rs. 571 million for the corresponding prior period.

Net Interest Income (NII) was reported at Rs. 2,109 million for Q12020, improving by 6 percent from the level of Rs. 1,996 million for the corresponding prior period. The growth was primarily due to improved volumes as well as spreads.

Non-Interest Income was reported at Rs. 1,168 million for Q12020, improving impressively by 76 percent from the level of Rs. 665 million for the corresponding prior period. The growth was due to increase in foreign exchange earnings and gains earned on securities which improved by Rs. 251 million and 247 million respectively.

Growth in expenses was recorded at 8 percent, as compared to the prior year, with Non-markup expenses reported at Rs. 2,260 million for the quarter ended 31 March 2020.

Net provisions and write offs were reported at Rs. 333 million for Q12020 as against a net reversal of Rs. 577 million in the corresponding prior period, mainly due to reversal in excess of Rs. 700 million in Q12019, and additional impairment charge of Rs. 178 million in Q12020 on the Bank’s equity portfolio, resulting from a constant decline in major stock prices.

The Bank’s net advances portfolio stood at Rs. 196,785 million as at 31 March 2020, 4 percent lower than the year end 2019 level. Non-performing loans decreased from Rs. 10,903 million on 31 December 2019 to Rs. 10,779 million on 31 March 2020.

Net investments witnessed a volumetric increase of Rs. 7,676 million or 4 percent from the year-end balance of Rs. 177,056 million, ending at Rs. 184,732 million as at 31 March 2020.

Deposits registered a marginal decline of Rs. 440 million or 0.15 percent when compared to 31 December 2019, ending at Rs. 301,643 million as at 31 March 2020.

The Board of Directors recognized and appreciated the efforts of the management in delivering steady performance amidst a challenging environment. In particular, the Board appreciated the services of the Bank’s front line staff, who have helped ensure continuity of services for our customers during the uncertain times following the COVID-19 outbreak. 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.

The Board of Directors of Soneri Bank Limited, in their 175th meeting held in Lahore on 13th February 2020, approved the Bank’s financial statements for the year ended 31 December 2019.

The Bank posted profit before tax (PBT) of Rs. 3,247 million and profit after tax (PAT) of Rs. 1,906 million in the year 2019, as compared to Rs. 2,905 million and Rs. 1,784 million respectively in 2018, increasing by 11.78 percent and 6.86 percent respectively. These results have consequently improved the Bank’s EPS to Rs. 1.7289 per share in 2019 from Rs. 1.6179 per share in 2018. The Board of Directors has also announced cash dividend for the year ended 31 December 2019 @ 10 percent i.e. Rs. 1.00 per share.

Net Interest Income (NII) for the year was reported at Rs. 7,926 million, improving by 14 percent year on year. The growth in net interest income was primarily due to improved volumes as well as spreads.

Non-Interest Income ended lower than the prior period, mainly due to the impact of losses incurred on the Capital markets portfolio, while fee and commission earnings, dividend income and foreign exchange income all improved substantially by 9.89 percent, 28.30 percent and 15.46 percent respectively.

Growth in expenses was kept restricted at 10.16 percent, as compared to the prior year, with Non-markup expenses reported at Rs. 8,129 million for the year ended 31 December 2019.

The Bank’s net advances portfolio grew by 9.88 percent to Rs. 204,901 million over the year. Non-performing loans decreased by 4 percent from Rs. 11,357 million on 31 December 2018 to Rs. 10,903 million on 31 December 2019. As a result, the Bank’s infection ratio has improved from 5.83 percent on 31 December 2018 to 5.13 percent on 31 December 2019, moreover, the specific provision coverage ended at 69.46 percent on 31 December 2019.

Net investments witnessed a significant volumetric increase of Rs. 30,411 million or 20.74 percent from the year-end balance of Rs. 146,645 million, ended at Rs. 177,056 million as at 31 December 2019.

Deposits also registered a healthy growth of Rs. 39,704 million or 15.13 percent over the year, and were reported at Rs. 302,083 million as at 31 December 2019.

The Bank remains adequately capitalized, with CAR of 15.79 percent at year end.

Soneri Bank has maintained its market position in the industry while strengthening its overall risk profile with stable outlook. Pakistan Credit Rating Agency Limited “PACRA” has accredited Soneri Bank with “AA-” (double A minus) for its long-term rating and “A1+” (single A one plus) for Bank’s short-term rating.

Soneri Bank has also maintained the rating of Unsecured, Sub-ordinated and Listed Term Finance Certificates (2nd issue) of PKR 3,000 million at A+ (single A Plus) along with the rating of its Unsecured, Sub-ordinated, Listed, Perpetual and Non-cumulative Term Finance Certificates as Additional Tier 1 (‘ADT1’) Capital of PKR 4,000 million at A (Single A), all accredited by PACRA.

Soneri Bank with its network of over 300 plus Branches and ATMs continues to work towards the financial betterment and will continue to value the patronage given by its customers.

The annual financial statements of Soneri Bank Limited for the year ended 31 December 2019 were approved by the shareholders of the Bank in its 28th AGM held simultaneously via Videocon in Lahore and Karachi, on Thursday, 26 March 2020. The meeting of the shareholders was chaired by Mr. Alauddin Feerasta, Chairman of the Board, with Mr. Mohammad Aftab Manzoor, President and Chief Executive Officer and other members of the Board of Directors also in attendance.

The Bank posted profit before tax (PBT) of Rs. 3,247 million and profit after tax (PAT) of Rs. 1,906 million in the year 2019, as compared to Rs. 2,905 million and Rs. 1,784 million respectively in 2018, increasing by 11.78 percent and 6.86 percent respectively. The Bank’s EPS for the year was reported at Rs. 1.7289 per share. During the meeting, the shareholders approved the final cash dividend for the year ended 31 December 2019 @ 10 percent i.e. Rs. 1.00 per share, as recommended earlier by the Board of Directors.

Briefing the shareholders on the financial results, the President and CEO mentioned that the Bank’s Net Interest Income (NII) improved by 14 percent year on year, primarily due to improved volumes as well as spreads. He mentioned that core fee and commission earnings, dividend income and foreign exchange income all indicated positive growth, improving by 9.89 percent, 28.30 percent and 15.46 percent respectively, while the negative impact on overall Non-Interest Income was mainly due to the impact of losses incurred on the Capital markets portfolio due to adverse market conditions that prevailed over a substantial part of the year.

He further mentioned that the Bank’s Net Advances portfolio grew by 9.88 percent year on year, while Net Investments indicated a growth of 20.74 percent over 2018. Deposits crossed the level of Rs. 300 billion, increasing by 15.13 percent over 2018. As at 31 December 2019, the gross Advances to Deposits ratio (ADR) of the Bank stood at 70.35 percent, the Bank’s infection ratio improved to 5.13 percent, while the specific provision coverage stood at 69.46 percent.

While discussing the Bank’s outlook and strategy, the Chairman of the Board said that the country was indeed going through a tough phase, but he assured the Shareholders that the Board and the management of the Bank are working together in order to deliver on the Bank’s Strategic targets. During the meeting, the Shareholders of the Bank elected the Bank’s Directors for a term of three years, namely Mr. Alauddin J. Feerasta, Mr. Nooruddin Feerasta, Mr. Ahmed A. Feerasta, Mr. Muhammad Rashid Zahir, Mr. Jamil Hassan Hamdani, Ms. Navin Salim Merchant and Mr. Manzoor Ahmed – NIT nominee, , subject to their FPT clearance from the State Bank of Pakistan.

The Board of Directors of Soneri Bank Limited, in their 172nd meeting held in Karachi on 24th October 2019, approved the Bank’s condensed interim financial statements for the nine months period ended 30 September 2019.

The Bank posted profit before tax (PBT) of Rs. 2,066 million and profit after tax (PAT) of Rs. 1,211 million for the nine months period ended 30 September 2019, as compared to Rs. 2,167 million and Rs. 1,294 million respectively, posted in the same period last year. EPS for the period was reported at Rs. 1.0985 as against Rs. 1.1734 for the same period last year.

Net Interest Income (NII) for the period was reported at Rs. 5,967 million, improving by 19.32 percent year on year. The growth in net interest income was primarily due to improved volumes as well as spreads.

Non-Interest Income ended lower than the prior period, mainly due to the impact of losses incurred on the Capital markets portfolio, while fee and commission earnings, as well as foreign exchange income both improved by 17.05 percent and 5.99 percent respectively.

Growth in expenses was kept restricted at 11.60 percent, as compared to the prior period, with Non-markup expenses reported at Rs. 6,118 million for the nine months ended 30 September 2019.

The Bank’s net advances portfolio grew by 6.86 percent to Rs. 199,275 million over the nine-months period. Non-performing loans decreased by 6.11 percent from Rs. 11,357 million on 31 December 2018 to Rs. 10,663 million on 30 September 2019. As a result, the Bank’s infection ratio has improved from 5.83 percent at 31 December 2018 to 5.15 percent at 30 September 2019, whereas the specific provision coverage at 30 September 2019 stands at 71.90 percent.

Net investments witnessed a significant volumetric increase of Rs. 64,312 million or 43.86 percent from the year-end balance of Rs. 146,645 million, ended at Rs. 210,957 million as at 30 September 2019.

Deposits registered a healthy growth of Rs. 18,184 million or 6.93 percent over the nine-month period, and were reported at Rs. 280,563 million as at 30 September 2019.

The Bank remains adequately capitalized, with CAR for September 2019, reported at 15.17 percent.

Soneri Bank Limited posted profit before tax (PBT) of Rs. 1,633 million and profit after tax (PAT) of Rs. 975 million for the half year ended 30 June 2019, as compared to Rs. 1,624 million and Rs. 976 million respectively in the same period last year. EPS for the period was reported at Rs. 0.8844 as against Rs. 0.8853 for the same period last year. The Board in its 171st meeting held on 28th August 2019, approved the Bank’s condensed interim financial statements for the half year ended 30 June 2019.

The Bank’s net advances portfolio grew by 7.55 percent, to Rs. 200,557 million. Non-performing loans decreased by 5.51 percent from Rs. 11,357 million on 31 December 2018 to Rs. 10,731 million on 30 June 2019; thereby improving the infection ratio from 5.83 percent on 31 December 2018 to 5.16 percent on 30 June 2019.

The Deposit portfolio registered a healthy growth of Rs. 25,391 million or 9.68 percent when compared to 31 December 2018 and ended at Rs. 287,771 million as at 30 June 2019. Current accounts increased by Rs. 13,547 million during this period, and the Bank’s CASA percentage improved to 64.97 percent. (December 2018: 60.76 percent).

The Board of Directors is confident that the Bank would continue to perform well, amidst a challenging economic environment and meet the expectations of our stakeholders.

Soneri Bank has maintained its market position in the industry while strengthening its overall risk profile with stable outlook. Pakistan Credit Rating Agency Limited “PACRA” has accredited Soneri Bank with “AA-” (double A minus) for its long-term rating and “A1+” (single A one plus) for Bank’s short-term rating.

Soneri Bank has also maintained the rating of Unsecured, Sub-ordinated and Listed Term Finance Certificates (2nd issue) of PKR 3,000 million at A+ (single A Plus) along with the rating of recently issued Unsecured, Sub-ordinated, Listed, Perpetual and Non-cumulative Term Finance Certificates as Additional Tier 1 (‘ADT1’) Capital of PKR 4,000 million at A (Single A), all accredited by PACRA.

Soneri Bank with its network of over 290 branches and 300 plus ATMs continues to work towards the financial betterment of its customers and will continue to value the patronage given by them.

Soneri Bank Limited posted profit before tax (PBT) of Rs. 1,201 million and profit after tax (PAT) of Rs. 723 million for the quarter ended March 2019, as compared to Rs. 1,016 million and Rs. 660 million respectively in the same period last year. This indicates a year on year PBT growth of 18.24 percent and a PAT growth of 9.59 percent. The Bank’s EPS improved to Rs. 0.6561 per share in March 2019 from Rs. 0.5987 per share in the same period last year. The Board in its 169th meeting held on 24th April 2019, approved the Bank’s condensed interim financial statements for the quarter ended 31 March 2019.

The Bank’s net advances portfolio grew by 2.09 percent to Rs. 190,371 million. Nonperforming loans decreased by 3.83 percent from Rs. 11,357 million on 31 December 2018 to Rs. 10,923 million on 31 March 2019; thereby improving the infection ratio from 5.83 percent on 31 December 2018 to 5.51 percent on 31 March 2019.

The Deposit portfolio registered a decline of Rs. 3,588 million or 1.37 percent when compared to 31 December 2018, ending at Rs. 258,791 million as at 31 March 2019. However, the Bank’s CASA percentage improved to 64.14 percent. (December 2018: 60.76 percent).

The Board of Directors are confident that the Bank would continue to perform well, amidst a challenging economic environment and shall be able to achieve its KPIs and meet the expectations of our stakeholders

Karachi, February 4, 2019 – Keeping up with its flare for Cricket, Soneri Bank yet again partners with the most promising team of PSL 2019 – Quetta Gladiators as their Official Banking Partners.

Soneri Bank, with its promise of Roshan Har Qadam, has been promoting sports in Pakistan for many years and is one of the most prominent supporters of upcoming talent in the country. The brand believes in the strength of sports in uplifting a country’s overall image in international market and as a result boosting our economy and well-being.

The Gladiator brand stands for resilience, commitment and never say die attitude. With roots in the culturally rich city of Quetta, Quetta Gladiators are impassioned by indomitable qualities of strength, commitment and fighting prowess which personifies the brand. QG, the brand itself identifies with the distinguished qualities of integrity and valor which are synonymous with the culture and people of Quetta.

Mr. Mohammad Aftab Manzoor, President & CEO of Soneri Bank expressed his confidence in the team and said: “The team has been a consistent performer throughout all PSL seasons and we are hopeful that this season will be wining for us. Soneri Bank believes in the vision of QG as it resonates with our ideology of Roshan Har Qadam and enlightenment at very customer experience. Sports has been one of the areas where we feel our Country is no less than international standards and through us, we aspire to showcase our Country’s talent on international screens. It’s time to re-live the spirit of passion, entertainment and victory.”

Mr. Nadeem Omer, Owner of Quetta Gladiators highlighted the strength of brand’s relationship with QG and said: “Soneri Bank has been associated with QG for the past years and we are grateful for their confidence and unflinching support. PSL-2019 is a premium product and one of the best cricketing leagues around the world. The league is an ideal opportunity which gives massive exposure to brands and partners. This year will be even bigger than the earlier editions with five venues including eight matches in Pakistan.”

February 22nd, 2019

Soneri Bank Limited posted profit before tax (PBT) of Rs. 2.905 billion and profit after tax (PAT) of Rs. 1.784 billion for the year 2018, as compared to Rs. 2.848 billion and Rs. 1.660 billion respectively in 2017. These results have consequently improved the Bank’s EPS from Rs. 1.5056 per share in 2017 to Rs. 1.6179 per share in 2018. The Board in its 167th meeting held on 22nd February 2019, approved the Bank’s audited financial statements for the year ended 31 December 2018. The Board has also announced cash dividend for the year ended 31 December 2018 @ 10 percent i.e. Rs. 1.00/- per share.

During the year, Gross Advances portfolio grew by 12.77 percent or Rs. 22.059 billion as compared to the previous year, closing at Rs. 194.831 billion. Investments showed a substantial growth of 26.85 percent or Rs. 31.509 billion, with gross investments reported at Rs. 148.835 billion. Deposits registered an increase of 15.43 percent from Rs. 227.304 billion in 2017 to Rs. 262.379 billion in 2018. As at 31 December 2018, gross Advances to Deposits ratio (ADR) of the Bank stood at 74.26 percent as against 76.01 percent in 2017. The Bank’s net assets (including surplus) amount to Rs. 17.989 billion as at 31 December 2018.

During the year, the Bank successfully issued additional Tier-1 Capital in the form of listed, perpetual, unsecured, subordinated, non-cumulative and contingent convertible debt instruments with an issue size of Rs. 4 billion. The issue aims at supplementing the Bank’s tier 1 CAR and contributes towards enhancing the lending capacity of the bank.

December 28th, 2018

Soneri Bank has maintained its market position in the industry while strengthening its overall risk profile with stable outlook. Pakistan Credit Rating Agency Limited “PACRA” has accredited Soneri Bank with “AA-” (double A minus) for its long-term rating and “A1+” (single A one plus) for Bank’s short-term rating.

Soneri Bank has also maintained the rating of Unsecured, Sub-ordinated and Listed Term Finance Certificates (2nd issue) of PKR 3,000 million at A+ (single A Plus) along with the rating of recently issued Unsecured, Sub-ordinated, Listed, Perpetual and Non-cumulative Term Finance Certificates as Additional Tier 1 (‘ADT1’) Capital of PKR 4,000 million at A (Single A), all accredited by PACRA.

Soneri Bank with its network of over 290 branches and 300 plus ATMs continues to work towards the financial betterment and will continue to value the patronage given by its customers.

November 8th, 2018

In light of the recent news with regard to cyber-attacks, Soneri Bank reassures all its customers that the customer’s data is secure and safeguarded at the utmost level. All our systems are operating business as usual and there has been no incident to date related to compromise on customer information.

Soneri Bank is diligently working with regulators to maintain and safeguard the digital payment solutions and continue to perform as per our customer’s confidence in us. We have been proactively investing in our systems to ensure safety and security for our customers. We have also undertaken initiatives to keep our customers informed regarding the fraudulent activities through our social media.

At Soneri Bank, our customer’s financial security is our primary focus and the management of SBL reassures all its customers that all necessary safety measures have been taken to ensure that the customer’s data is safeguarded. We have further added precautionary measures to ensure safety and privacy of financial data for future as well.

From Left to right: Mr. Muhammad Haris Naeem, Senior Product Manager, Wealth Management Soneri Bank Limited, Mr. Junaid Qamar, Head of Sales MCB Arif Habib Savings & Investments Limited, Mr. Muhammad Saqib Saleem, Chief Executive Officer, MCB Arif Habib Savings & Investments Limited, Mr. Mohammad Aftab Manzoor, President & CEO Soneri Bank, Mr. Amin A. Feerasta, Executive Director Soneri Bank, Mr. Raheel Shakil, Head – Wealth Management Soneri Bank, Mr. Muhammad Asif Moeed, & Ms. Aisha Arif Lodhi

MCB-Arif Habib Savings and Investments Limited (MCB-AH) is a strategic merger between two leading Asset Management companies of the country, created in June 2011. Carrying the trust of more than 72,000 retail investors, MCB-AH is an Asset Management, Investment Advisory and Pension Fund Management Company, managing Open-end Schemes, Voluntary Pension Schemes and Discretionary Portfolios.

Soneri Bank with its mission to provide innovative and efficient financial solutions is onboard to adapt to changing marketing trends in the world economy and make a difference in customer experience –
Roshan Har Qadam!

Soneri Bank Limited posted a profit before tax of Rs. 1,624.265 million and profit after tax of Rs. 975.982 million for the half year ended 30 June 2018. These amounts are higher than the corresponding period last year by 12.02 percent and 20.22 percent respectively. Earnings per share of the Bank stood at Rs. 0.8853 which is also 20.22 percent higher than corresponding period of 2017. The Board in its 163rd meeting held on 28 August 2018, approved the Bank’s un-audited condensed interim financial statements for the half year ended 30 June 2018.

During the period deposits grew by 7.07 percent closing at Rs. 243.417 billion (December 2017: Rs. 227.348 billion). Net advances grew by 2.39 percent to Rs. 168.219 billion (December 2017: Rs. 164.293 billion). The Bank’s net assets (including surplus) amount to Rs. 18.203 billion as at 30 June 2018.

Soneri Bank continues to operate with adequate liquidity and capital adequacy levels and maintains reputable standing with international financial institutions. The Bank is committed to meet the increasing expectations of its loyal and satisfied client-base through its 290 branches all over the country. The Bank has successfully transformed its Core banking system in the second quarter of 2018 which is enabling the Bank to derive further efficiencies and modernization.

February 20, 2018

The Board of Directors of Soneri Bank Limited met in Karachi under the Chairmanship of Mr. Alauddin Feerasta, on 20 February 2018 to review the performance of the Bank and approved the financial statements for the year ended 31 December 2017. Bank has posted profit before tax of Rs. 2,830.97 million and profit after tax of Rs. 1,643.33 million for the year ended 31 December 2017. This translates into earnings per share of Rs. 1.4906 (31 December 2016: Rs. 1.7042). The variance in earnings mainly caused by the low interest rate environment was partially offset by volumetric growth in the Balance Sheet and an increase in Trade volumes drove our non-markup income up compared to 2016. The Board of Directors has also announced final cash dividend for the year ended 31 December 2017 @ 7.50% i.e. Re. 0.75 per share.

The Bank has shown re-enforcement in all core areas of the Bank’s operations. Deposits increased by 8.30%, while current deposits grew by 22.47% over 2016. Net advances recorded a growth of 31.11% over 2016. Bank’s net assets (including surplus) amounted to Rs.18.50 billion as at 31 December 2017.

Bank adequately meets the SBP Basel III requirements and continues to maintain a low NPL ratio while building efforts on securing further recoveries.

Soneri Bank has a notable market position in trade-finance and transaction banking services and boasts a loyal and satisfied client-base in all of its 290 branches across the nation. The Bank is committed to meeting the increasing expectations of its customers and continues to build its franchise by timely investing in information technology, human resources, marketing and infrastructure.

Sitting Left to Right: Ahmed Saqib Asad (CIO, Soneri Bank), Mehdi Hassan Haryani (Founder & CEO, Peekaboo Guru), Mohammad Aftab Manzoor (President & CEO, Soneri Bank), Farooq Sikander (Executive Consultant, FetchSky)

Standing Left to Right: Ahmed Anwaar (Head E-banking and IT Operations, Soneri Bank), Fariya Zaeem (Head of Marketing, Soneri Bank), Adeel Ahmed Qureshi (Head of Data Operations, Peekaboo Guru) Muhammad Ali Khoja (Founder & COO, Peekaboo Guru).

In addition, Peekaboo Connect will also act as a bridge between the bank and the third party services such as ride hailing companies, online retailers and others to open up their experience on the banking platforms.

Soneri Bank with its mission to provide innovative and efficient financial solutions is onboard to adapt to changing marketing trends in the digitalized world and make a difference in Customer experience-Roshan Har Qadam!

Soneri Bank Limited posted profit before tax of Rs. 2,099.71 million and profit after tax of Rs. 1,231.35 million for the nine months ended 30 September 2017. This translates into earning per share of Rs. 1.12 versus Rs. 1.40 in the corresponding period last year. This is due to the phenomena of maturity of high yielding Bonds, a systemic theme across the industry impacting banking results. Bank’s strategy to meet this challenge has borne fruit and bank total revenue is at the same level as last year which shows the gap has been made up. Expenses have increased due to branch expansion as well as inflationary impact. The Board in its 158th meeting held on 18th October 2017, approved the Bank’s third quarterly financial statements.

During the period deposits grew by 2.34 percent closing at Rs. 214.85 billion (December 2016: Rs.209.93 billion). Net advances grew by 24.38 percent to Rs.155.85 billion (December 2016: Rs.125.31 billion).The Bank’s net assets (including surplus) amounts to Rs.17.12 billion as at 30 September 2017.

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 286 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.

Bottom Row Right to Left: Ahmed Saqib Asad (Chief Information Officer, Soneri Bank), Amin A. Feerasta (Executive Director, Soneri Bank), Irfan Fazli (CEO, BenchMatrix), and Kamran Shehzad (Chairman, BenchMatrix)

Top Row Right to Left: Amir Sultan (Head Information System and Health Desk, Soneri Bank), Abdul Aziz Kalyan (Head Consumer Finance Division, Soneri Bank), Mubarik Ali (Country Credit Head, Soneri Bank), Taimur Kaleem (Executive Manager, BenchMatrix), and Farhan Seth (Senior Manager, BenchMatrix)

Soneri Bank with its recent strategic alliances with BenchMatrix’s RiskNucleus® brings together the combined expertise of the companies on one common platform, with mutual goals for successful digital transformation.

BenchMatrix is a leading advisory services and automated GRC solutions provider with a focus on developing practical and customized approaches to risk management for organizations. Our team has several full cycle implementation experiences in multinational organizations with success stories in Bahrain, Qatar, Saudi Arabia, UAE, Kuwait, France, Canada and Pakistan.

Soneri Bank with its mission to provide innovative and efficient financial solutions is onboard to adapt to changing marketing trends in the digitalized world and make a difference in Customer experience-Roshan Har Qadam!

From left to right: Mr. Ahmed Anwaar (Head of E-Banking and Operations, Soneri Bank), Ms. Fariya Zaeem (Head of Marketing, Soneri Bank), Mr. Faisal Rahim (Chief Executive, Total Communications), Mr. Ahmed Saqib Asad (Chief Information Officer, Soneri Bank), Mr. Faisal Qamar (Head of ADC, Soneri Bank), Mr. Abid Saleem (Digital Marketing Officer, Soneri Bank).

Karachi: 17th April 2017

The Board of Directors of Soneri Bank Limited in its 155th meeting held on 17 April 2017, approved the Bank’s first quaterly un-audited financial statements. Bank posted a profit before tax of Rs. 916.33 million and profit after tax of Rs. 595.62 million for the first quarter ended 31 March 2017. These amounts are higher than the corresponding period last year by 11.43 percent and 10.46 percent respectively. These are attributable to higher revenue along with managed expenses.

During the period deposits grew by 3.03 percent closing at Rs.216.28 billion (December 2016: Rs.209.93 billion). Net advances grew by 5.82% to Rs.132.60 billion (December 2016: Rs.125.31 billion).The Bank’s net assets (including surplus) amounts to Rs.17.21 billion as at 31 March 2017.

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 282 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.

From left to right: Sabina Bhagat (Marketing Manager, Soneri Bank), Fariya Zaeem (Head of Marketing, Soneri Bank), Awais Dhakan (Executive Creative Director, Adcom Leo Burnett), Muzaffar Manghi (General Manager, Adcom Leo Burnett)

Soneri Bank’s SEVP and Group Head, Shahid Abdullah, said, “We believe that partnering with Small World Financial Services will play a pivotal role in boosting remittance inflows to Pakistan globally. It will also help to build up foreign reserves. We believe this collaboration has benefits for both institutions and is aligned with Soneri Bank’s vision, ‘to better serve customers, to help them and the society grow’ and our mission ‘to provide innovative and efficient financial solutions to our customers’.”

Mr. Nick Day, CEO SWFS, said, “Pakistani workers sent remittances abroad over $19.9 billion in 2015-16 to support their families and friends, and to invest back into their home country. This partnership between Small World FS and Soneri Bank will help the community get their funds to their countries faster and at much lower cost than with existing services.

Front Row (Left to Right): Mr. Abdul Aleem Qureshi, Head of CRBG Soneri Bank, Mr. Amin A. Feerasta, Chief Operating Officer Soneri Bank, Mr. Yuichiro Kadowaki, Head of Sales and Marketing, CIS, MEA & South America JCB, Ms. Mutsumi Kaneko, CIS, MEA & South America.

Back Row (Left to Right): Mr. Faisal Qamar, Head of ADC Soneri Bank, Mr. Syed Faizan Rizvi, Country Representative JCB Pakistan, Mr. Obaid Bawany, General Manager, Head of MEASA Region, JCB.

On this occasion Mr. Amin A. Feerasta – COO Soneri Bank, stated, “Partnering with JCB as an ATM acquirer, Soneri Bank endorsed its commitment once again to provide the best means of banking at the technology forefront to the local as well as international cardholders. We see this strategic alliance as a doorway to more avenues in future”.

Mr. Yuichiro Kadowaki, Head of Sales and Marketing, CIS, MEA & South America of JCB International stated, “The acceptance of JCB Cards on Soneri Bank ATMs will be a great opportunity for servicing JCB card members coming to Pakistan. In JCB’s global expansion strategy, we view Pakistan to be a market with much potential because of its growing economy and the growth of the card payment market.”

The ceremony was attended by the senior management officials from both sides.

Left to Right: Mr. Muhammad Altaf Butt- Company Secretary, Ms. Anjum Hai-Chief Financial Officer, Mr. Amar Zafar Khan-Director, Mr. Alauddin Feerasta-Chairman, Mr. Mohammad Aftab Manzoor-President & CEO, Mr. Nooruddin Feerasta-Director, Mr. Noman Abbas Seikh-Engagement Partner, A.F Ferguson & Co.

The Chairman further briefed the shareholders that the Bank has shown growth & reinforcement in all core areas of the Bank’s operations. Deposits grew by 13.83% over 2015 and net advances recorded a growth of 11.88% over 2015. Bank’s net assets (including surplus) amounted to Rs. 18.29 billion as of 31 December 2016.

Presenting the results he said that key reasons for successful performance in 2016 were the increased focus on core area of activity, advances, deposits and trade which allowed the Bank to overcome challenges due to thinning margins / spreads in the industry.

With our brand promise of ‘Roshan Har Qadam’, Soneri Bank has collaborated with Hot Water Bottle Films for the most anticipated upcoming feature film “Chalay Thay Saath” which will release on April 21, 2017. The film is directed by Mr. Umer Adil and produced by Beenish Umer. The star cast includes Syra Shehroz, Kent S. Leung, Behroze Sabzwari, Mansha Pasha along with other actors.

On the occasion of press conference, Ms. Fariya Zaeem, Head of Marketing of Soneri Bank said: “With our vision to help the society grow, we hope to leverage this fusion positively and not only portray the enchanting northern side of Pakistan but also build good relationships on China Pakistan Economic Corridor (CPEC).”

“Chalay Thay Saath is a leap for our film industry as we have international actor Kent S. Leung acting alongside the brightest talents of our country. We hope that this film reaches and touches hearts of people and lends support to our Pakistani film industry.” Said Mr. Umer Adil

Roshan Har Qadam.

Karachi: 20 February 2017

The Board of Directors of Soneri Bank Limited met in Lahore under the Chairmanship of Mr. Alauddin Feerasta, on 15 February 2017 to review the performance of the Bank and approved the financial statements for the year ended 31 December 2016. Chairman while addressing the meeting highlighted that 2016 was the year where bank completed its 25 years of operation and is standing tall and on course to meet its strategic objectives. For 2016, Bank has posted profit before tax of Rs. 3,077.34 million and profit after tax of Rs. 1,878.84 million for the year ended 31 December 2016. This translates into earnings per share of Rs.1.7042 (31 December 2015: Rs.2.0071). The reduction in earnings is mainly a factor of industry predicament due to lower interest rates versus 2015. This pressure was offset by lower provision due to higher recovery of non-performing loans. The Board of Directors has also announced cash dividend for the year ended 31 December 2016 @ 12.5% i.e. Rs. 1.25 per share.

The Bank has shown re-enforcement in all core areas of the Bank’s operations. Deposits grew by 13.83% over 2015 and net advances recorded a growth of 11.88% over 2015. Bank’s net assets (including surplus) amounted to Rs.18.29 billion as at 31 December 2016.

Bank adequately meets the SBP Basel III requirements and is well positioned to meet its growth plans. The Bank continues to follow a prudent policy for making provisions for the infected loan portfolio in line with regulatory requirements and is confident that actions taken in 2016 would further help in controlling future infections and securing upcoming recoveries.

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 288 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.

Sitting (Left to Right): Mr. Ovais Habib Khan (COO TPS), Mr. Ahmed Saqib Asad (CIO Soneri Bank), Mr. Amin A. Feerasta (COO Soneri Bank), Mr. Imran Qureshi (CEO Covalent & President Access Group), Mr. Shahzad Shahid (CEO TPS & Director Covalent)

Standing (Left to Right): Mr. Amyn Ghazali (Product Manager Covalent), Mr. Haris Waheed (Business Development Manager Covalent), Mr. Abbas Ali (CTO Access Group), Mr. Ahmad Anwaar (Head EBanking Soneri Bank), Mr. Faisal Qamar (Head ADC Business), Mr. Rashid Ahmed (Group Head, Services TPS)

Soneri Bank with its recent strategic alliances with Covalent, Access Group and TPS Joint venture brings together the combined expertise of all the companies on one common platform, with mutual goals for successful digital transformation.

With this collaboration with Covalent, Soneri Bank will experience enhance customer experience, efficient launching of new products and services, easier integration with other systems, easy access to data and information, and an expansive yet flexible platform. In our mission to provide innovative and efficient financial solutions to our customers and in regulation with the State Bank of Pakistan’s payment cards upgrades, Soneri Bank has embraced digital transformation.

As part of the agreement, Covalent will setup an EMV Compliant Card Management System to power Soneri Bank EMV Debit MasterCard program. This will provide Soneri Bank to a world of possibilities and with IRIS at the core, newer initiatives like EMV acquiring, cardless withdrawal and Prepaid Card Issuing will be future initiatives.

“We conducted an extensive review of several alternatives and determined that Covalent is suitable for us,” states Amin A. Feerasta Chief Operating Officer at Soneri Bank. Covalent wants us to innovate with their state-of-the-art IRIS platform and services. With common goals we will successfully optimize our service delivery.

“Having a progressive technology business partner is crucial for banks in this technological era because it ultimately influences our customer service experience,” said Ahmed Saqib Asad, CIO, Soneri Bank. “We believe Covalent will empower us with innovative technology to drive a more rewarding customer relationship and greater service efficiency.”

“Being able to identify with Soneri Bank’s technology requirements and innovate accordingly is a way forward to a sustainable and mutually beneficial business relationship. Our technology will provide Soneri Bank with the ability to launch different products of their choice with ease that will enhance their value to their end customers well into the future.” says Covalent CEO Imran Qureshi.

“Quick response to market, efficient services and innovative technology are key enablers of success for progressive banks like Soneri Bank. Covalent is committed to delivering best-in-class results for Soneri and enabling them to better serve their customers.” said Shahzad Shahid, Director, Covalent.

Incorporated in 2016, Covalent is the 1st Local Collaboration on the Cloud, formed with the objective of leading the way towards digital transformation of banks in the most cost effective and efficient way. We offer a digital payments platform that can address both the short and long term objectives of any financial institution.

Bottom Row: From Left to Right: Faisal Qamar, Head of ADC Soneri Bank, Hasnain Sheikh, Co-CEO and Chairman Inov8, Mr. Amin Feerasta, Chief Operating Officer Soneri Bank, Mr. Khalid Elgibali, Division President Mastercard, Mr. Aurangzaib Khan, Area Head Pakistan and Afghanistan Mastercard.

Top Row: From Left to Right: Mr. Anwaar Ahmed, Head of eBanking and IT Ops. Soneri Bank, Mr. Aqib Zulfiqar, CFO, Bashir Sheikh, Co-CEO and Co-Founder Inov8, Mr. Ahmed Saqib Asad, CIO Soneri Bank, Mr. Mohammad Aftab Manzoor, President & CEO Soneri Bank, Mr. Yaseen Anwar, Member Advisory Board, Inov8, Mr. Farooq Sikander, Executive Consultant Inov8, Mr. Moiz Mujtaba, Team Lead Financial Solutions Inov8.

Karachi: 24 October 2016

Soneri Bank Limited posted profit before tax of Rs. 2,619.75 million and profit after tax of Rs. 1,541.71 million for the nine months ended 30 September 2016. The Board in its 151st meeting held on 21st October 2016, approved the Bank’s third quarter financial statements.

During the period deposits grew by 9.04 percent closing at Rs.201.97 billion (December 2015: Rs.185.22 billion). Net advances were down by 11.96% to Rs.98.61 billion (December 2015: Rs.112.00 billion) due to seasonal factors. Bank’s net assets (including surplus) amounted to Rs.18.26 billion as at 30 September 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 281 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.

Karachi: 28 September 2016

IGI Life under its Window Takaful Operations and Soneri Bank signed a Bancatakaful Distribution agreement under which IGI Life’s takaful products will be distributed using Soneri Bank’s branch network. The signing ceremony was held at Soneri Bank’s head office in Karachi on Wednesday, September 21, 2016. Soneri Bank was represented by its Chief Operating Officer Mr. Amin A. Feerasta and Head of Bancassurance Mr. Afzal Shah. While IGI Life was represented by its Dy. Chief Executive Officer Mr. Nadeem R. Malik, Head of Window Takaful Operations Dr. Bakht Jamal, Head of Bancassurance Sales Mr. Saqib Burney and Manager Special Projects and New initiatives Mr. Khalid Qureshi. 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 277 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.

Karachi: 30th August 2016
Soneri Bank one of the fastest growing banks in Pakistan with the mission to provide innovative and efficient financial solutions to their customers, has recently signed a contract for EMV Debit Card issuance system with InfoTel Pakistan; one of the leading card service providers in the market and a partner of Thales-e-Security Solutions. With the introduction of EMV technology which allows Soneri Bank to offer multi- application services to their customers and ensures top level security along with the flexibility to use Chip based Card for numerous functions.

To launch this new partnership, an agreement was signed by Mr. Amin A. Feerasta – COO Soneri Bank and Mr. Riaz Siddiqui – Managing Director InfoTel Pakistan at Central office of the bank in Karachi. The signing ceremony was attended by members of the management team of both organizations along with Mr. James Cook – Regional Sales Director of Thales e-Security.

Under the new agreement, Soneri Bank will enable its system to offer its customer EMV Compliant Cards in Debit category thereby providing them with the cutting edge Global Standards of high end security and increase functionality.

Speaking at the signing ceremony Mr. Amin A. Feerasta – COO Soneri Bank stated “by complying to EMV, Soneri Bank will have a competitive advantage of issuing Chip based Debit cards thereby enabling them to be better equipped to offer more features and services in the days ahead. This agreement ensures that we partnered with a leading innovative player to provide our customers with high level of convenience, functionality and most importantly of security. Our objective is to provide our customers the best card products compatible locally and globally.

On this occasion Mr. Riaz Siddiqui – Managing Director – InfoTel Pakistan stated that “we will deliver the world’s best EMV technology i.e. Thales P3 which will provide customers with the highest possible security and the ability to add new applications during the cards lifetime and also prevent the bank from malicious activities”

Karachi: 18 August 2016

Soneri Bank Limited posted profit before tax of Rs. 2,048.66 million and profit after tax of Rs. 1,175.51 million for the half year ended 30 June 2016. These amounts are higher than the corresponding period last year by 7.07 percent and 6.13 percent respectively. The Board in its 150th meeting held on 16th August 2016, approved the Bank’s half yearly financial statements.

During the period deposits grew by 9.18 percent closing at Rs.202.22 billion (December 2015: Rs.185.22 billion). Net advances grew by 3.47% to Rs.115.88 billion (December 2015: Rs.112.00 billion).The Bank’s net assets (including surplus) amounts to Rs.18.07 billion as at 30 June 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 277 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.

Karachi: 21 April 2016

Soneri Bank Limited posted a profit before tax of Rs. 822.31 million and profit after tax of Rs. 539.21 million for the first quarter ended 31 March 2016. The Board in its 149th meeting held on 20 April 2016, approved the Bank’s first quaterly 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.

Karachi: 25 March 2016

The annual financial statements of Soneri Bank Limited for the year ended 31 December 2015 were approved by the shareholders of the Bank in its 24th AGM held on Friday, 25 March 2016. The meeting was chaired by Mr. Alauddin Feerasta, Chairman of the Bank.

Bank declared Rs.2.21 billion after tax profit for the year ended 31 December 2015.The Shareholders also approved a cash dividend of Rs. 1.25 per share, which was recommended by the Board of Directors in their meeting held on 11 February 2016.

The Chairman briefed the shareholders that key reasons for better performance in 2015 were continued focus on core area of activity, advances, deposits and trade and strategic positioning which allowed the Bank to enhance its earnings from both investments and non-markup sources. Total deposits as reported in the annual audited accounts, reflecting sound growth of 13.46 closed at Rs.185.22 billion while net advances at the end of the year 2015 amounted to Rs.112.00 billion, being up by 3.74 percent. Resultantly, the net assets closed at Rs.18.19 billion thus translating into a growth of 6.76 percent from the 2014 level.

During the year, the Bank issued Listed Term Finance Certificates (TFC – 2) worth Rs. 3.00 billion. The issue was successfully closed and was oversubscribed by Rs.810 million (1.3 times). Issue was structured as Pre-IPO subscription of Rs.2.25 billion and IPO of Rs.0.75 billion

From Right to left: Mr. Nabeel Ahmad VP Business Development Pakistan & Afghanistan MasterCard Middle East & North Africa; Mr. Aurangzaib Khan VP and Country Manager Pakistan & Afghanistan MasterCard Middle East & North Africa; Mr. Amin Feerasta Chief Operating Officer Soneri Bank Ltd; Mr. Ahmed Saqib Asad Chief Information Officer Soneri Bank Ltd and Mr. Faisal Qamar ADC Head Soneri Bank Ltd.Karachi: 03 March 2016

Soneri Bank Limited, one of Pakistan’s leading private commercial banks, and MasterCard announced the launch of MasterCard Debit Cards for the bank’s customers.

The deal, covering the entire Pakistan market, allows Soneri Bank customers to exclusively leverage the power of MasterCard’s global presence to enjoy anytime, anywhere access to cash as well as numerous local and international merchant locations

MasterCard debit cards exclusively issued by Soneri Bank will come equipped with the latest technology to ensure safe and secure transactions and will offer cardholders a host of features and benefits including worldwide acceptance, emergency services, enhanced fraud protection and more.

Mr. Amin Feerasta, Chief Operating Officer (COO) Soneri Bank speaking at the occasion said, “Soneri Bank always adopts customer-centric approach, we are the pioneers in providing the ATM services to the Northern Areas of the country with our branches and ATM network growing incrementally. We believe that partnering with MasterCard for Soneri Debit Card would open more avenues to provide innovative services to our customers”.

Mr. Aurangzaib Khan, Country Manager, Pakistan and Afghanistan, MasterCard, said, “The agreement will make everyday transactions easier and more secure for customers of Soneri Bank – regardless of how or where they shop or make payments. As a technology company in the payments industry, MasterCard serves as a critical link that connects millions of consumers to businesses and banks all over the world, and we’re committed to leveraging the power of our industry-leading solutions to drive the use of electronic payments in Pakistan and transition the country towards a world beyond cash.”

From Left to right first row: Amin A. Feerasta Chief Operating Officer Soneri Bank Ltd, Mohammad Aftab Manzoor President and CEO Soneri Bank Ltd, Jean-Paul Mergeai Managing Director Temenos Middle East and Africa, Juan Cejudo Regional Sales Manager Temenos GCC, Middle EastFrom Left to right second row: Navaid Kareem EVP Business Development NDC, Mir Tehmeed Head, Service Management & Projects Soneri Bank Ltd, Anjum Hai Chief Financial Officer Soneri Bank Ltd, Ammara Masood CEO NDC, Ahmed Saqib Asad Chief Information Officer Soneri Bank Ltd, Gary Rhodes Senior Client Engagement Manager Temenos.

Karachi: 17 March 2016

Soneri bank has taken another leap to enhance the technology platform in line with its focus to improve customer experience and wide range of product offering by signing agreement with Temenos for T24 core banking system.

Mr. Mohammad Aftab Manzoor, President & CEO Soneri Bank Ltd said, “With this technological transformation and our mission to provide innovative and efficient financial solutions, we aim to uplift our customer experience to international standards”.

Mr. Jean-Paul Mergeai Managing Director, Temenos Middle East & Africa Temenos said, “Temenos is extremely honoured to have been selected by Soneri Bank as their technology & business partners for the transformation of their core banking system. As our 10th signing in Pakistan, Soneri Bank is an important milestone in the continuous development of our business and the delivery of value to the Pakistani banking industry”.

11th February, 2016

The Board of Directors of Soneri Bank Limited met in Lahore under the Chairmanship of Mr. Alauddin Feerasta, on 11 February 2016 to review the performance of the Bank and approved the financial statements for the year ended 31 December 2015. The Bank has posted a profit after tax of Rs. 2.21 billion which is 39.87 percent higher than last year. This translates into earnings per share of Rs. 2.01 (31 December 2014: Rs.1.44). Profit before tax stands at Rs. 3.59 billion being 47.25 percent higher than last year. The Board of Directors has also announced cash dividend for the year ended 31 December 2015 @ 12.5% i.e. Rs. 1.25 per share.

The Bank has outperformed the market in deposit growth and also shown reinforcement in all core areas of the Bank’s operations. Deposits grew by 13.46% over 2014 and net advances recorded a growth of 3.74% over 2014. Bank also adequately meets the SBP Basel III requirements and is well positioned to meet its growth plans. Analyzing the reasons for successful performance in 2015, Bank sources explain that the increase in gross revenue was registered mainly on account of growth in earning assets, which increased bank net markup income. Furthermore, bank delivered well on its strategy to mobilize low cost deposits and invest in high yielding bonds. This provided the offset against pressure on spreads due to low rates. The Bank continues to follow a prudent policy for making provisions for the infected loan portfolio in line with regulatory requirements and is confident that actions taken in 2015 would further help in controlling future infections and securing upcoming recoveries.

During the year, the Bank issued Listed Term Finance Certificates (TFC – 2) worth Rs.3.00 billion. The issue was successfully closed and was oversubscribed by Rs.810 million (1.3 times). Issue was structured as Pre-IPO subscription of Rs.2.25 billion and IPO of Rs.0.75 billion

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.

09th December, 2015

First row from right to left Mr. Amin Feerasta Chief Operating Officer (SBL), Mr. Niaz A Malik, Deputy CEO (Zong). Second row right to left Mr. Mohammad Arif Usman Head of Administration (SBL), Mr. Ahmed Saqib Asad Chief Information Officer (SBL), Mr. Rizwan Siddiqui acting GM South (Zong), Mr. Naeem Ahmed Regional Manager South (Zong), Ms. Ashi Ishtiaq KAM South (Zong).

Islamabad – December 09, 2015: Zong, Pakistan’s most advanced and the only 3G and 4G network has signed a contract with Soneri Bank for the provisioning of Zong BizXcess & Enterprise Solution Services.

BizXcess is Zong’s unique service that allows the postpaid subscribers to choose a plan and get it customized with 3G / 4G, SMS and Group Call Add-Ons. The BizXcess offers different packages including EconoXcess 149, ProXcess, SmartXcess, SMS Add-Ons and Group Call Add-Ons. These packages offer call, SMS, internet and other facilities to Zong’s postpaid subscribers at very convenient rates.

Speaking at the signing ceremony, Niaz A Malik, Deputy CEO Zong said “This contract is another feather in Zong’s cap of cellular excellence. It is recognition in banking sector that Pakistan’s business community prefers Zong due to its highest standards of professionalism, technological advancement and affordability. Soon, Zong would be able to equip Pakistan’s entire banking sector with advanced technological tools practiced worldwide for e-banking.”

Mr Amin Feerasta, Chief Operating Officer (COO) Soneri Bank speaking at the occasion said, “Soneri Bank in its mission to continuously innovate and enhance customer service has invested in the world’s leading technology. This platform will allow Soneri Bank to provide consistent customer experience along all touch points.”

The Deputy CEO Zong hoped that the contract would go a long way in technologically better equipping Soneri Bank’s style of banking in a secure and foolproof manner. “With the help of Pakistan’s most advanced telecom techniques, Soneri Bank would stand equipped to offer banking services to its customers in a much more convenient, digitized, faster and durable way without any hassles.”

20th October, 2015

Soneri Bank Limited posted profit before tax of Rs. 2,622.22 million and profit after tax of Rs. 1,589.87 million for the nine months period ended 30 September 2015. In terms of growth PBT is up 49.86 percent and PAT by 41.92 percent over corresponding period last year.

The Board in its 146 th meeting held on 20 October 2015, approved the Bank’s third quarter financial statements. On this occasion the Chairman, Mr. Alauddin Feerasta appreciated the Bank’s continued strong performance during the third quarter and expressed satisfaction with results.

The key drivers of higher net earnings were primarily revenue growth and managed expenses. Bank’s revenue increased by 22.86 percent to Rs.8.06 billion, from last year’s figure of Rs.6.56 billion whereas expenses increased just by 6.48 percent. Bank’s net assets amounted to

Rs.18.07 billion as at 30 September 2015, being 6.04 percent higher than December 2014 base of Rs.17.04 billion. Deposits grew by 7.88 percent during the nine months closing at Rs.176.11 billion (December 2014: Rs.163.25 billion) and net advances down by 5.27 percent to Rs. 100.49

billion (December 2014: Rs.106.08 billion) due to seasonal factors. The Bank continues to follow a prudent policy for making provisions for the 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 249 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.

21st August, 2015

Soneri Bank Limited posted profit before tax of Rs. 1,913.31 million and profit after tax of Rs. 1,107.61 million for the half year ended 30 June 2015. In terms of growth PBT is up 79.11 percent and PAT by 66.85 percent over corresponding period last year. The Board in its 144th meeting held on 13 August 2015, approved the Bank’s half yearly financial statements. On this occasion the Chairman, Mr. Alauddin Feerasta appreciated the Bank’s continued strong performance during the second quarter and expressed satisfaction with results.

The Key drivers of higher net earnings were primarily revenue growth and managed expenses. Bank’s revenue increased by 24.98 percent to Rs.5.42 billion, from last year’s figure of Rs.4.33 billion whereas expenses increased just by 3.88 percent. Bank’s Net assets amounted to Rs.17.82 billion as at 30 June 2015, being 4.60 percent higher than December 2014 base of Rs.17.04 billion. Deposits grew by 9.86 percent during the half year closing at Rs.179.34 billion (December 2014: Rs.163.25 billion) and Net advances down by 2.68 percent to Rs.103.24 billion (December 2014: Rs.106.08 billion) due to seasonal factors. The Bank continues to follow a prudent policy for making provisions for the infected loan portfolio in line with regulatory requirements.

Soneri Bank successfully closed 2nd Issue of Rated, Listed, Unsecured and Subordinated Term Finance Certificates worth Rs.3,000 million. Issue was oversubscribed 1.3 times reflecting investors’ confidence in the bank. Going forward, this will enhance bank’s capital buffer and support future growth plan.

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 247 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.

28th April, 2015

Soneri Bank Limited, under the umbrella of Soneri Mehnat Wasool Remittance, has partnered with Ria Money Transfer (“Ria”), a global leader in international money transfer and payment services, to provide money transfer services throughout Pakistan.

This new collaboration allows Pakistani expatriates from all over the world to send money to their families and friends through Ria locations worldwide. Soneri Bank customers can either receive money directly to their bank accounts, or beneficiaries can pick-up cash at a Soneri Bank branch. Beneficiaries selecting cash pick-up can receive their funds in as little as 10 minutes through Soneri Mehnat Wasool Remittance. The amount remitted from abroad is paid in Pakistani Rupee (PKR) and can be collected at more than 240 Soneri Bank branches in 106 cities across Pakistan.

Soneri Bank’s SEVP and Group Head, Shahid Abdullah, said, “We believe that partnering with Ria will play a pivotal role in boosting remittance inflows to Pakistan not only globally, but from the United States, where there is huge potential. It will also help to build up foreign reserves. We believe this collaboration has benefits for both institutions and is aligned with Soneri Bank’s vision, ‘to better serve customers, to help them and the society grow’ and our mission ‘to provide innovative and efficient financial solutions to our customers’.”

Ria’s President and CEO, Juan Bianchi also commented, “Our partnership with Soneri Bank provides more choices for Pakistanis living abroad who wish to send money home, as well as additional points for collecting remittances. Ria’s substantial network, combined with Soneri Bank’s own strategic locations, will also contribute to foreign reserves and economic growth in Pakistan, which is one of the top 10 remittance receiving countries in the world.”

About Soneri Bank:

Soneri Bank is a Pakistani commercial bank that was incorporated on September 28, 1991. The first branch commenced operations in Lahore on April 16, 1992, followed by the launch of Karachi’s first branch on May 09, 1992. With over 240 branches and 260 ATMs across the country, Soneri Bank is a growing bank well-positioned to provide competitive services in all spheres of banking.

The bank offers a diverse range of products and services to cater to the growing banking needs of today’s customers. The brand promise “Roshan Har Qadam” manifests their commitment to constantly innovate their product suite for the best match of personal & business needs of its customers, including Commercial, Retail and Corporate segments. For further details about Soneri bank you may visit www.soneribank.com

About Ria:

Ria is a global leader in money remittances and is a recognized benchmark in both quality and service. Ria initiates transfers through a network of sending agents and company-owned stores located throughout North America, Latin America, Europe and Australia as well as online from the United States at www.riamoneytransfer.com

Ria’s current global network spans 134 countries with services in over 243,000 locations. Ria is steadfast in its commitment to customers and remains ingrained within the communities in which they live. For more information visit www.riafinancial.com and www.riamoneytransfer.com

Ria is a subsidiary of Euronet Worldwide, Inc. (Nasdaq:EEFT), a worldwide leader in processing secure electronic financial transactions. Through three business segments – Electronic Financial Transactions (EFT), epay Prepaid Products and Money Transfer – Euronet offers a diverse portfolio of electronic payment alternatives to customers in approximately 160 countries. In addition to global money transfer services, Euronet’s product portfolio includes comprehensive ATM services, point-of-sale processing, card outsourcing services, prepaid mobile airtime, other prepaid content and mobile operator solutions.

For further information regarding this release, please contact:

Syed Muhammad Muzammil
Product Manager, Home Remittance, Soneri Bank Limited
[email protected]
T: +92-311-7773034 or 111-567-890 Ext: 2155

Sian Bennett
PR & Communication, Ria Money Transfer
[email protected]

Soneri Bank Limited posted a profit before tax of Rs. 949.73 million and profit after tax of Rs. 613.28 million for the first quarter ended 31 March 2015. The Board in its 143rd meeting held on 17 April 2015, approved the Bank’s first quaterly un-audited financial statements. On this occasion the Chairman, Mr. Alauddin Feerasta appreciated the Bank’s continued positive performance during the quarter and expressed satisfaction on the record profit posted.

During the period Bank’s net revenue rose by 28.31 percent to Rs.2.61 billion, from last year’s figure of Rs.2.03 billion. Bank’s Net assets amounted to Rs.17.26 billion as at 31 March 2015, being 1.33 percent higher than 2014 base of Rs.17.04 billion. Deposits are almost at 2014 year end position standing at Rs.162.73 billion and Net advances are down by 6.48% to Rs.99.20 billion due to seasonal factors.

The Bank continues to follow a prudent policy for making provisions for the 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 246 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.

The annual financial statements of Soneri Bank Limited for the year ended 31 December 2014 were approved by the shareholders of the Bank in its 23rd AGM held on Friday, 27 March 2015. The meeting was chaired by Mr. Alauddin Feerasta, Chairman of the Bank.

Bank declared Rs.1.58 billion after tax profit for the year ended 31 December 2014. The Shareholders also approved a cash dividend of Rs.1.00 per share, which was recommended by the Board of Director in their meeting held on February 14, 2015.

The Chairman briefed the shareholders that 2014 was a year of challenges yet the annual results reflect sound growth in all areas of Bank’s operations. Total deposits as reported in the annual audited accounts, reflected a sound growth of 16.13 percent to close at Rs.163.25 billion whereas the net advances at the end of the year 2014 amounted to Rs.106.08 billion, which is up by 9.16 percent. Resultantly, the net assets closed at Rs.17.04 billion thus translating into a growth of 28.28 percent from the 2013 level.

Presenting the results, he said that key reasons for successful performance in 2014 were the increased focus on the core areas of activity, advances, deposits and trade which allowed the Bank to enhance its earnings from both investments and foreign exchange sources.

Soneri Bank Ltd has recently taken an initiative for the rehabilitation of flood affectees by presenting a Cheque of Rs. 10 Million to CM Punjab Mr. shahbaz Sharif as “Flood Relief Fund”. The cheque has been presented by GM (Central-I) Mr. Zia Amjad Hussain on behalf of SONERI BANK on Nov 26, 2014. On this occasion Chief Minister Punjab also commended the humanitarian spirit of those who have contributed their shares for national progress and prosperity.

Soneri Bank believes in shining the light of transformation on all walk of lives enabling the society towards step of prosperity – “Roshan Har Qadam”

First row from Left to Right Mr. Ahmed Saqib Asad Chief Information Officer (SBL), Mr. Kamal Ahmed Chief Digital Services Officer (PTCL), President & CEO Mr. Mohammad Aftab Manzoor (SBL) & Mr. Amin A Feerasta Chief Risk Officer (SBL).

Second row from left to right Mr. Abbas A. Bhatti Manager Corporate Services (PTCL), Mr. Mirza Sajid Baig GM Corporate Services (PTCL), Mr. Noman Muzaffar Head Infrastructure Services (SBL) & Mr. Khalid Aziz Senior Manager Corporate Services (PTCL) at Signing Ceremony of Soneri Bank Ltd and PTCL on 9th Dec 2014.

Soneri Bank Limited is embarking upon hosting the I.T. Data Centre Infrastructure at the PTCL’s Tier-III Data Center Site in Karachi. The PTCL Data Centre is equipped with state of the art facility which includes electrical power (UPS & Genset), precision cooling and rack space with committed sustenance and veracity thus augmenting uptime and minimizing risks. The bank will only avail the mentioned facilities, the ownership and governance of the I.T. Infrastructure/equipment will remain with the bank.

This is a commendable initiative taken by Soneri Bank’s Technology team for the mutual benefits of both Bank and customers, as this will provide a good response time, sustainability and a more secured platform which will enhance the sense of security and reliability in our valued customers.

Zia Amjad Hussain of Soneri Bank presented Rs 10 million for CM flood relief fund

November 27, 2014

Former President Rafique Tarar, Minister of State for Religious Affairs Pir Ameen-ul-Hasnat and prominent personalities from different walks of life met Punjab Chief Minister Muhammad Shahbaz Sharif, here on Wednesday and presented cheques for Rs 25 million for Chief Minister’s Flood Relief Fund. Former President Rafique Tarar gave Rs 0.4 million, Minister of State for Religious Affairs Pir Ameen-ul-Hasnat Rs 0.5 million, Zia Amjad Hussain of Soneri Bank Rs 10 million, Chief Executive Officer Lotte Chemical Lee and Chief Executive Officer Lotte Kolson Abdul Latif Rs 0.5mn million.

Member National Assembly Iffat Liaqat Ali and former MPA Chaudhry Liaqat Ali gave cheques for Rs 2.4 million. Tariq Ullah Sufi, Khalid Hadayat Sufi and Tanveer Ahmed Sufi Rs 2.0 million, former MPA Rana Iqbal Rs 0.4 million, Chairman Punjab Textbook Board Lahore Nawazish Ali Rs 6.0 million and Sheraz Waheed of Shahnawaz Limited Rs 2.5 million.

Speaking on the occasion, the Chief Minister commended the humanitarian spirit of the well known persons for the help and assistance of flood affectees. He said that Punjab government has set an example by completing the rehabilitation work of flood affectees within days. He said that historic package of 16 billion rupees has been given for compensating the losses of the flood-hit people. He said that, except the elements staging sit-ins, the whole nation stood by the distressed people and while the people were inundated, celebrations were being held on container in Islamabad. He said that the nation faced the worst flood of the history with courage and sincerity. He said that Punjab government and concerned institutions faced this challenge with courage.

He further said that federal and Punjab government of PML-N spared no effort for the help and assistance of the distressed people. He said that Prime Minister Muhammad Nawaz Sharif and I also visited flood-hit areas for several times. A special prayer was also offered on this occasion for national progress and prosperity.

Source: Business Recorder

Soneri Bank announces third quarter 2014 results

Oct 24, 2014

Soneri Bank Limited posted a pre-tax profit of Rs.1.75 billion for the nine months ended 30 September 2014. The Board in its 139 th meeting held on 23 October 2014, approved the Bank’s third quarterly financial statements. On this occasion, the Chairman, Mr. Alauddin Feerasta appreciated the Bank’s continued positive performance during the third quarter and expressed satisfaction on the overall scale of growth.

During the period, Bank’s total revenue amounted to Rs.6.56 billion, which is up by 22.13% from the last year’s comparative figure of Rs.5.37 billion. The deposits momentum continued, registering growth of 7.00% over 2013, to close at Rs.150.43 billion (December 2013: Rs.140.58 billion).

The Board was briefed that the Bank’s strategy of strong focus on the overall loan book and proactive management of non-performing loans is proving fruitful, and provisions are also down during the nine months period 2014 as compared to last year’s comparative figure.

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 238 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.

Soneri Bank announces second quarter 2014 results

Aug 14, 2014

Soneri Bank Limited posted a pre-tax profit of Rs.1,068.26 million for the first half year ended 30 June 2014. The Board in its 138 th meeting held on 13 August 2014, approved the Bank’s half yearly financial statements. On this occasion the Chairman, Mr. Alauddin Feerasta appreciated the Bank’s continued positive performance during the second quarter and expressed satisfaction on overall scale of growth.

During the first half year Bank’s total revenue amounted to Rs.4,324.58 million, which is up by 24.06 percent from the last year’s comparative figure of Rs.3,485.75 million. The deposits momentum continued, registering growth of 10.76 percent over 2013, to close at Rs.155.71billion (31 December 2013: Rs.140.58 billion). Advances (net) were down due to seasonal factor.

The Board was briefed that the Bank’s strategy of strong focus on the overall loan book and proactive management of non-performing loans is proving fruitful, and provisions are also down in first half year 2014 as compared to last year’s comparative figure.

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 236 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.

Chairman Mr. Alauddin Feerasta along with President & CEO Mr. Mohammad Aftab Manzoor & Chief Risk Officer Mr. Amin Feerasta at Inauguration Ceremony of Soneri Bank’s Corporate Branch Bahria Complex-III Karachi.

Soneri Bank is pleased to announce the commencement of Corporate Branch Bahria Complex-III on September 22, 2014. The Branch opening was inaugurated by the Chairman of Soneri Bank Limited, Mr. Alauddin Feerasta along with President & CEO of Soneri Bank Limited, Mr. Mohammad Aftab Manzoor accompanied by Chief Risk Officer Amin Feerasta.

The launch of Soneri Bank’s Corporate Branch is a step towards the success of our valued customers who maintain their trust with us, and to ensure that they receive all the financial facilities and hassle free services under the ambit of Soneri Bank Ltd. On this occasion, Chairman of the Bank, Mr. Alauddin Feerasta shared his thoughts about the 22 years history of customer centric approach where customers get facilities exceeding their expectations.

The President & CEO Mr. Mohammad Aftab Manzoor ascertained that the steady progress and growth of Soneri Bank is due to the continuous support and trust of our customers, and we as a management of Soneri Bank Ltd will continue with our commitment towards working for mutual benefits of both Customers and the Bank. With this understanding we increase our branch network to reach our valued customers with the best service quality.

Soneri Bank Announces 2013 Results

February 19, 2014

Soneri Bank Limited on Wednesday February 19, 2014 announced its results for the year ended 31 December 2013. The Chairman of the Bank, Mr. Alauddin Feerasta, presided over the Board that met in Lahore. The Bank posted profit after tax of Rs 1.037 billion. The Board noted with satisfaction that bank has met SBP’s Minimum Capital Requirement of the Rs. 10 billion, and has outperformed the market in both advances and deposit growth and achieved strong growth in all areas of the Bank’s operations. Deposits grew by 16.58% over 2012 and gross advances recorded a growth of 25.30% over 2012. It’s a great milestone that bank gross advances have crossed Rs. 100 billion.

Analyzing the reasons for successful performance in 2013, Bank sources explain that the increase in gross revenue was registered mainly on account of growth in main areas of activity; i.e. advances, deposits and trade, which allowed the bank to enhance its earnings from both investments and foreign exchange. Furthermore, bank delivered well on its strategy to mobilize low cost deposits which had a positive impact on its spread. The Bank continues to follow a prudent policy for making provisions for the infected loan portfolio in line with regulatory requirements and is confident that actions taken in 2013 would further help in controlling future infections and securing upcoming recoveries.

Soneri Bank at year end has a branch network of 239 and intends to continue with its growth strategy. The branding and service quality programs which were successfully launched in 2013 will continue to be focused upon in 2014.

Soneri Bank Limited recently undertook an initiative to assist the people affected by the drought devastation in Thar. Soneri Bank donated approximately 11.25 tonnes of food to be distributed in the form of 525 food hampers to the people of Thar. The food hampers were handed over to the Pakistan Army for distribution as part of a ceremony on 10th April 2014 at the Central Ordinance Depot. Present at the occasion were Mr. Amin Feerasta, Chief Risk Officer, Soneri Bank Ltd.; Ms. Fariya Zaeem, Head of Marketing, Soneri Bank Ltd.; and Mr. Anwar Hussain, Marketing Manager, Soneri Bank Ltd. Faced with frequent food shortages, the affected people found Soneri Bank’s efforts a welcome relief and hoped for similar gestures from the Bank in the future.

Soneri Bank has recently signed Home Remittance Disbursement Arrangement with Wall Street Finance Canada Ltd under PRI

November 7, 2013

Soneri Bank has recently signed Home Remittance Disbursement Arrangement with Wall Street Finance Canada Ltd under PRI (Pakistan Remittance Initiative) and will now facilitate delivery / disburse payments of Wall street Finance Canada, to beneficiary through its satisfied client-base in all its 235 branches in 105 cities spread all over the country, which covers most of the high home remittance volume receiving areas in Pakistan.

Soneri Bank Limited was incorporated on Sept 28, 1991.The first branch commenced operations in Lahore on April 16, 1992, followed by Karachi’s first branch on May 09, 1992. The Bank has a unique market position in trade-finance and transactional banking services& boasts a loyal & satisfied client –based served across an expanding network in both urban and rural landscape. The Bank’s loyal customer base also speaks volume of our convenient banking experience & understanding of our customer’s needs.

With our vision to better serve customers to help them and the society to grow and our mission to provide innovative & efficient financial solutions, we are committed to enhance customer experience. Soneri Bank-RoshanHarQadam.

(Left to right): Syed Babar Ali of Packages Group, Mr. Alauddin Feerasta Chairman Soneri Bank Ltd, Mr. JafferaliFeerasta Chairman RupaliGroup, Mr. Amin Feerasta Country Credit Head Soneri Bank, (Second row, right to left): Mr. Bilal Asghar Corporate Banking Head Soneri Bank, Mr. Aftab Manzoor President & CEO Soneri Bank, with other valued customers.

On May 16, 2013, Soneri Bank Limited opened its First Corporate Branch at 307, Upper Mall Lahore. The Branch opening was performed by the Chairman of Soneri Bank Limited Mr. AlauddinFeerasta along with Syed Babar Ali of Packages Group in the presence of distinguished Corporate customers and the bank’s management. This dedicated Corporate Branch will serve the bank’s Corporate customers under one-window operation and will provide best value services in a timely manner.

On this occasion, Chairman of the bank, AlauddinFeerasta said that Soneri Bank Limited has a 20 year history of customer service and excellence and the bank is making steady progress through its growth plans. As a result, the bank now has 233 branches and 258 ATMs across Pakistan covering both urban and rural areas of Pakistan.

The President & CEO, Mr. Aftab Manzoor remarked that Soneri Bank Limited is driving its customer focused strategy and ensuring that our distribution points are best utilized in meeting our customer’s requirement in a satisfactory manner. In this regard, this Corporate branch will serve as the door opener and we are looking to expand these purpose built branches in other geographies, going forward.

Soneri Bank Announces Results For 2012

26 February 2013

Soneri Bank Limited posted a pre-tax profit of Rs. 1,635.33 million for the nine-month period which ended on 30 September, 2012.

The Board in its 126th meeting approved the Bank’s third quarterly financial statements. On this occasion the Chairman, Mr. AlauddinFeerasta, appreciated the Bank’s continued positive performance in almost all areas of its operations and expressed satisfaction on the overall scale of growth.

The Bank’s total revenue as at September 30, 2012 amounted to Rs. 4,851.51 million, which reflects an impressive growth of 36.61% from the previous year’s comparatives. The pre-tax profit of the Bank, after registering a growth of 54.70%, amounted to Rs. 1,635.33 million. Whereas the post-tax profit of the Bank for the third quarter closed at Rs. 1,082.37 million.

President Mr. Mohammad AftabManzoor said that stepping into its 20th year of operation, the Bank has achieved various milestones and is aggressively working on a progressive strategy aimed towards increasing profitability, reinforcing brand image, improving service quality and generating value for customers and shareholders.

The Board was briefed that going forward, the Bank plans to retain its focus on increasing the operating base with a special focus on increasing its liability book and following its policy of proactive loan restructurings and recoveries.

Soneri Bank enjoys an excellent standing in trade-finance and transactions’ banking services and is serving an increasing number of satisfied customers through a wide-spread branch network of 219 branches spread all across the country.

Soneri Bank Announces Results For 2012

31 December, 2012

Soneri Bank Limited has announced its results for the year ended 31 December 2012 posting highest profit after tax in last six years. The Chairman of the Bank, Mr. Alauddin J Feerasta, presided over the Board that met in Lahore on 23 February 2013. The Board noted with satisfaction that bank has outperformed the market in both advances and deposit growth and achieved strong growth in all areas of the Bank’s operations. Deposits grew by 21.15% over 2011 and advances (gross) recorded a growth of 17.14% over 2011. The bank’s after tax profit increased to Rs 1,104 million, up from Rs 784 million, primarily due to a solid growth in Net Interest Income of 23.82%, (up from Rs 3,912 million to Rs 4,844 million) and effective monitoring of non-performing loan portfolio. The Bank’s EPS went up to Rs 1.10 from Re 0.78 as a result. As of 31 December 2012, the Bank is in compliance with Minimum Capital Requirement of the State Bank of Pakistan.

Analyzing the reasons for successful performance in 2012, Bank sources explain that the increase in core revenue was registered mainly on account of growth and restructuring in its main areas of activity; advances, deposits and trade, which allowed the bank to enhance its earnings from both investments and foreign exchange. Furthermore, the Bank continued to follow a prudent policy for making provisions for the infected loan portfolio in line with regulatory requirements and is confident that actions taken in 2012 would further help in controlling future infections and securing upcoming recoveries.

Soneri Bank at year end has a branch network of 233 and intends to continue with its growth strategy. The Bank will maintain its focus on technology, branch upgrades and human resources to meet customer expectations in an increasingly competitive environment.

Soneri Bank Declared After Tax Profit Of Rs.1,104.19 Million

31 December, 2012

The annual financial statements of Soneri Bank Limited for the year ended 31 December 2012 were approved by the shareholders of the Bank in its 21st AGM held on Thursday, 28 March 2013. The meeting was chaired by Mr. Alauddin Feerasta, Chairman of the Bank.

Bank declared Rs.1,104.19 million after tax profit for the year ended 31 December 2012 which is up from Rs.783.53 million for the year 2011. This was mainly driven by growth in net mark-up / interest income which registered a growth of 23.81 percent.

During the year bank declared 11 percent bonus shares amounting to Rs.993.21 million increasing the paid up capital to Rs.9,021.03 million, thus complying with the Minimum Capital Requirement of State Bank of Pakistan.

The Chairman briefed the shareholders that the annual results reflect sound growth in all areas of Bank’s operations. Total deposits as reported in the annual audited accounts adopted by the shareholders reflected a sound growth of 21.1 percent to close at Rs.120,830.57 million whereas the net advances as at the end of the year 2012 amounted to Rs.76,825.01 million, which is up by 17.58 percent. Resultantly, the net assets closed at Rs.12,352.90 million thus translating into a strong growth of 12.53 percent from the 2011 level.

The Chairman informed the shareholders that the Bank continued its focus on the core business area and managed to record remarkable growth in overall trade volumes handled during the year 2012.

Presenting the results he said that key reasons for successful performance in 2012 were the increased focus on core area of activity, advances, deposits and trade which allowed the Bank to enhance its earnings from both investments and foreign exchange sources.

Left to right: (Mr. Amir Arab, Mr. Irshad Nazir, Mr. Aftab Manzoor, Mr. Andrew Peter Kenneth, Mr. Reza Samad, Mr. Qurban Panjwani). The Agreement Signing Ceremony was held at the Soneri Bank Head Office on I.I. Chundrigar Road, Karachi.

Soneri Bank is now offering MoneyGram services at all its 214+ branches, across Pakistan.

Soneri Bank will now facilitate the delivery of MoneyGram payments to beneficiaries through its extensive branch network, which covers most of the high home remittance volume receiving areas in Pakistan. Recently Soneri Bank also became a member of the PRI Initiative, and is preparing to launch full-fledged home remittance facilitation services to beneficiaries and banks in Pakistan, as well as remitters and remittance companies abroad.

Speaking at the Agreement Signing Ceremony, Mr. Aftab Manzoor, President & CEO, Soneri Bank Ltd. said: “On the Home remittance front, Soneri Bank is committed to serving the community at large, and to making it convenient for beneficiaries of home remittances to receive payments quickly and efficiently. To support this commitment, we have recently established a dedicated home remittance business segment within the Bank and will continue to invest in people, technology and infrastructure in order to ensure that we are able to consistently deliver on our commitment, both to customers and our partners.”

Soneri Bank Announces Record High Half Yearly Profits – June 30, 2012

August 23, 2012

Soneri Bank Limited posted a record-high half year pre-tax profit of Rs 1,137.55million for period ended June 30, 2012. The Board in its 123rdmeeting approved the Bank’s half yearly financial statements. On this occasion the Chairman, Mr. Alauddin J. Feerasta appreciated Bank’s continued positive performance during the second quarter for year 2012 and expressed satisfaction on the overall scale of growth.

During the first half year Bank’s total revenue amounted to Rs 3,218.18m, which is up by a margin of 39.84% from the last year’s comparative of Rs 2,301.28m. The pre-tax profit of the bank amounted to Rs 1,137.55m which translated into a year on year growth of 67.50%, whereas the post-tax profits of the bank registered a growth of 58.74% and closed at Rs 752.91m as at June 30, 2012.

Besides increase in the core income side, one of the key reasons behind the profitability growth has been controlled provisioning on account of non-performing loan book, which as at June 30, 2012 resulted in a net reversal of Rs 70.35million as compared to Rs 505.22million charge last half year.

Stepping in its 20th year of its operation the Bank registered an impressive growth of over 15% on the total Deposit side, whereas the total assets recorded an increase of 14.39% when compared to December 31, 2011 levels. This momentum reflects the underlying gradual expansion strategy adopted by the Bank as a result of which the Bank has continually increased its operating footprint.

The Board was briefed that going forward the Bank plans to retain its focus on the overall loan book and follow the policy of proactive loan restructurings and timely recoveries and at the same time increase the overall revenue base of the Bank.

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 214 branches spread all across the country. The Bank is committed to meet the increasing expectation of its customers and continue to provide them par-excellence services, for which the bank has been investing responsibly in information technology, human resources and infrastructure.

Soneri Bank Awarded Runners up Award for ‘Best Bank of the year 2011’ by CFA Association Pakistan

Jul 5, 2012

CFA Association has ranked Soneri Bank as the second best bank in Pakistan 2011 (in the medium-bank category). This reward takes into account the impressive performance and growth registered by Soneri Bank during the year 2011. Soneri Bank specialized in trade finance and transactional banking services and have a footprint of 214 branches across Pakistan. Operating with a deposit base of over Rs 103billion (as at March 31, 2012) Soneri Bank is one of the fast growing bank in the medium-sized bank category in Pakistan.