Soneri Bank Limited has reported an after-tax profit of Rs2.94 billion for the nine months ended September 30, 2026, compared with Rs3.30 billion in the corresponding period last year, according to its latest financial statements submitted to the Pakistan Stock Exchange (PSX).
The bank’s financial results, approved by its Board of Directors on October 26, 2026, show a decline in profitability amid lower net interest income and higher operating expenses.
Net Interest Income Declines
Soneri Bank’s net mark-up and interest income fell to Rs17.53 billion during the nine-month period, compared with Rs20.99 billion in the same period of 2025. The decline reflects a reduction in the difference between income earned on financing and investments and the cost of funding.
Mark-up and interest income stood at Rs62.44 billion, down from Rs64.38 billion a year earlier. Meanwhile, mark-up and interest expenses increased to Rs44.91 billion from Rs43.39 billion, putting additional pressure on the bank’s net interest income.
Total Income Records a Decline
The bank’s total income decreased to Rs25.13 billion during the first nine months of 2026, compared with Rs27.51 billion in the corresponding period last year.
However, non-mark-up and interest income provided some support. This category increased to Rs7.60 billion from Rs6.52 billion, helped by stronger foreign exchange income, which rose to Rs1.95 billion from Rs1.13 billion.
Fee and commission income also increased to Rs3.75 billion from Rs3.60 billion, while gains on securities reached Rs1.62 billion, compared with Rs1.55 billion in the same period of the previous year.
Higher Operating Expenses Pressure Earnings
Soneri Bank’s operating expenses rose to Rs20.49 billion in the nine months ended September 2026, compared with Rs17.28 billion a year earlier. The increase in expenses contributed to the decline in the bank’s overall profitability.
Profit before taxation fell to Rs6.03 billion from Rs9.60 billion in the corresponding period of 2025. Taxation amounted to Rs3.09 billion, compared with Rs6.30 billion in the previous year’s period.
As a result, profit after taxation declined to Rs2.94 billion from Rs3.30 billion.
Basic and diluted earnings per share also decreased to Rs2.6680 from Rs2.9968, according to the bank’s financial statements.
Advances and Deposits Show Growth
The bank’s statement of financial position indicates growth in both advances and deposits compared with December 31, 2025.
Advances increased to Rs237.83 billion at September 30, 2026, from Rs214.32 billion at the end of 2025. Deposits and other accounts rose to Rs736.48 billion from Rs689.11 billion over the same period.
Total assets increased to Rs893.45 billion from Rs852.48 billion. Investments also grew to Rs517.82 billion from Rs479.25 billion, reflecting an expansion in the bank’s investment portfolio.
Total liabilities stood at Rs857.23 billion at the end of September 2026, compared with Rs815.69 billion at December 31, 2025.
Board Announces No Interim Dividend
Soneri Bank’s board did not recommend a cash dividend, bonus shares, or right shares for the period under review. The bank also reported no other entitlement or corporate action in its announcement to the PSX.
The financial statements released with the announcement are unaudited and cover the quarter and nine months ended September 30, 2026.
Outlook
Soneri Bank’s latest results highlight a challenging earnings environment, with declining net interest income and rising operating expenses weighing on profitability. At the same time, growth in deposits, advances, investments, and total assets indicates an expansion in the bank’s balance sheet.
Investors will be watching the bank’s upcoming financial disclosures for signs of improvement in core income, expense management, and earnings performance.
