Soneri Bank announces PAT of Rs2.396bn for 1H’26
KARACHI: The Board of Directors of Soneri Bank Limited, in their 217th meeting held in Karachi on Wednesday, approved the Bank’s financial statements of the half year ended 30 June 2026. The Bank’s stable performance across all functional areas underscores its operational robustness and resilience that was achieved despite a challenging macroeconomic landscape driven by surging international…
In the first half of 2026, Soneri Bank Limited reported a Profit After Tax (PAT) of Rs 2.396 billion, down from Rs 2.497 billion in the previous period. The bank's gross revenue base remained robust despite a challenging interest rate environment driven by surging international energy prices, global supply chain disruptions, and domestic energy tariff adjustments.
While Net Interest Income (NII) declined by 19.80 percent, non-interest income surged by 50.96 percent, reaching Rs 5.368 billion. This diversification of revenue streams was primarily driven by increases in foreign exchange income, capital gains, and fee and commission income. The bank's investment portfolio grew to Rs 509.110 billion, a 6.23 percent increase from the previous year.
However, investment income declined due to a compression in net investment yields. The loan book underwent gradual repricing in response to downward policy rate revisions by the State Bank of Pakistan, resulting in a decrease in net yields on advances. Despite this, the bank expanded its lending activity and its deposit base grew by 13.8 percent.
The bank's cost of funds decreased to 6.68 percent, down from 7.44 percent in the previous period, aligning with the downward policy rate revisions.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
