Shareholders of Soneri Bank approve 2024 annual results

LAHORE: The annual audited financial statements of Soneri Bank Limited for the year ended 31 December 2024 were approved by the shareholders of the Bank in their 33rd AGM held in Lahore and through video-link via Zoom on Thursday, 13 March 2025.

The meeting was chaired by Mr. Amin A. Feerasta, Chairman of the Board, with Mr. Muhtashim Ahmad Ashai, President and Chief Executive Officer and other members of the Board of Directors and Senior Management also in attendance.

The Bank posted profit before tax (PBT) of Rs. 12,638 million and profit after tax (PAT) of Rs. 5,901 million in the year 2024, as compared to Rs. 12,357 million and Rs. 6,075 million respectively in 2023. Earnings per share (EPS) for the year was reported at Rs. 5.35 per share for the current year, as compared to Rs. 5.51 for the comparative prior year. During the meeting, as recommended earlier by the Board of Directors, the shareholders approved the final cash dividend @ 17.50 percent, i.e., Rs. 1.75 per share, in addition to the interim cash dividend of 12.50 percent, i.e., Rs. 1.25 per share, already declared and paid, thus total 30 percent, i.e., 3.00 per share for the year ended 31 December 2024.

The Bank’s Net Interest income for the year was reported at Rs. 24,948 million, increasing by 9.62 percent from Rs. 22,759 million recorded for the prior year, while non-interest income increased by 4.58 percent to end at Rs. 6,755 million as against Rs. 6,459 million for the last year.