KARACHI, August 20, 2026: Soneri Bank Limited reported a profit after taxation of Rs2.40 billion for the half year ended June 30, 2026, compared with Rs2.50 billion in the same period last year, according to the bank’s financial results approved by its Board of Directors on August 19.
The bank’s earnings remained broadly stable despite pressure on core net mark-up income and higher operating costs. The results were submitted to the Pakistan Stock Exchange through the bank’s filing.
Profit remains resilient despite lower net interest income
Soneri Bank’s net mark-up/interest income declined to Rs11.44 billion during the first half of 2026 from Rs14.26 billion a year earlier. Mark-up and interest earned also fell to Rs40.38 billion from Rs43.53 billion.
However, the decline in core interest income was partly offset by stronger non-mark-up income. The bank’s non-mark-up/interest income increased to Rs5.37 billion, compared with Rs3.56 billion in the first half of 2025.
Foreign exchange income more than doubled to Rs1.33 billion, while gains on securities rose sharply to Rs1.39 billion from Rs374.2 million. Fee and commission income also edged higher to Rs2.43 billion.
Higher expenses weigh on profitability
The bank reported operating expenses of Rs13.09 billion, up from Rs11.02 billion in the corresponding period last year. As a result, profit before credit loss allowance fell to Rs3.61 billion from Rs6.53 billion.
Credit loss allowance and write-offs stood at Rs1.19 billion, significantly higher than Rs150.7 million recorded in the first half of 2025. Profit before taxation consequently declined to Rs4.79 billion from Rs6.68 billion.
After taxation of Rs2.40 billion, Soneri Bank posted a profit after tax of Rs2.40 billion, while earnings per share stood at Rs2.1732, compared with Rs2.2648 a year earlier.
Balance sheet continues to expand
Despite the pressure on earnings, Soneri Bank’s balance sheet showed growth during the period.
Total assets increased to Rs885.73 billion at June 30, 2026, compared with Rs852.48 billion at the end of December 2025. Investments rose to Rs509.11 billion from Rs479.25 billion, while advances increased to Rs235.84 billion from Rs214.32 billion.
Deposits and other accounts also recorded significant growth, reaching Rs784.23 billion, compared with Rs689.11 billion at December 2025.
The growth in deposits suggests continued expansion in the bank’s funding base, although the financial statements also show a substantial reduction in borrowings during the period, from Rs61.64 billion at year-end 2025 to Rs12.10 billion at June 30, 2026.
Operating cash flow remains positive
Soneri Bank generated Rs20.94 billion in net cash from operating activities during the first half of 2026. This was lower than the Rs117.54 billion generated in the same period of 2025, mainly reflecting changes in operating assets and liabilities.
The bank used Rs21.18 billion in investing activities, while financing activities consumed Rs2.90 billion. Cash and cash equivalents stood at Rs59.10 billion at the end of June 2026.
No interim dividend announced
For the half year ended June 30, 2026, Soneri Bank’s Board recommended no cash dividend, bonus shares or right shares. The bank also reported no other corporate action or price-sensitive information in its filing.
Overall, Soneri Bank’s first-half performance reflects a mixed picture: profitability remained relatively stable, supported by stronger non-interest income, while lower net interest income, higher operating expenses and increased credit loss provisions placed pressure on the bottom line. At the same time, the bank continued to expand its assets, investments, advances and deposit base during the period.
