Shareholders of Soneri Bank Limited approve 2022 annual results.

The annual audited financial statements of Soneri Bank Limited for the year ended 31 December 2022 were approved by the shareholders of the Bank in their 31st AGM held in Lahore and through video- link via Zoom on Monday, 27 March 2023. The meeting was chaired by Mr. Alauddin Feerasta, Chairman of the Board, with Mr. Muhtashim Ahmad Ashai, 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. 4,554 million and profit after tax (PAT) of Rs. 1,883 million in the year 2022, as compared to Rs. 5,149 million and Rs. 2,854 million respectively in 2021. Earnings per share (EPS) for the year was reported at Rs. 1.71 per share for the current year, as compared to Rs. 2.59 for the comparative prior year. During the meeting, the shareholders approved the final cash dividend for the year ended 31 December 2022 @ 10.00 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 Bank's Net Interest income for the year was reported at Rs. 11,267 million, increasing by 3.01 percent against Rs. 10,938 million for the prior year, while non-interest income increased by 20.21 percent to end at Rs. 5,157 million as against Rs. 4,290 million for the last year. He also mentioned that despite inflationary pressures, growth in...