Soneri Bank Limited’s 2nd quarterly accounts for the period ended 30.06.2011

Soneri Bank Limited’s 2nd quarterly accounts for the period ended 30.06.2011

Karachi: We have to inform you that the Board of Directors of our Company in its meeting held on Saturday, 13 August 2011 at 12:30 hrs at Rupali House, 241-242 Upper Mali Scheme, Anand Road, Lahore has approved the second quarterly accounts for the period ended 30 June 2011 and recommended the following:

 

1. Cash Dividend  NIL
2. Bonus Shares NIL
3. Right Shares NIL

 

 

Financial Results

The condensed interim (un-audited) profit and loss account of the Bank for the 2nd quarter and half year ended 30 June 2011 is enclosed herewith as Annexure “A”.

Kindly circulate to your members accordingly. We will be sending you 300 copies of printed accounts in due course of time for distribution amongst the members of the Exchange.

Condensed Interim Profit and Loss Account (Un-Audited) for the Half Year and Quarter Ended 30 June 2011

 

For the Half Year Ended

For the Quarter Ended

30 June

30 June

30 June

30 June

2011

2010

2011

2010

(Rupees ‘000)

Mark-up/return/interest earned 6,087,475 4,934,226 3,111,281 2,469,689
Mark-up/return/interest expensed (4,280,639) (3,535,253) (2,235,680) (1,777,552)
——— ——— ——— ———
Net mark-up/return/interest income 1,806,836 1,398,973 875,601 692,137
Provision against non – per forming
Loans and advances – net (505,224) (1,014,992) (233,842) (666,114)
Reversal/ (provision) for diminution in the value
of investments 29,602 (85,074) 9,602 (52,341)
Bad debts written-off directly 15 (15) (15)
——— ——— ——— ———
(475,607) (1,100,081) (224,240) (718,470)
——— ——— ——— ———
Net mark-up/return/interest income after provisions 1,331,229 298,892 651,361 (26,333)
Non mark-up/interest income
Fee, commission and brokerage income 231,543 206,158 104,040 96,154
Dividend income 144,555 42,287 69,534 17,423
Income from dealing in foreign currencies 244,788 85,587 125,710 49,668
Unrealised gain / (loss) on revaluation of investments
Classified as held-for-trading
Gain on sale of securities-net 42,656 14,596 29,375 11,996
Other income 306,523 261,866 147,445 142,187
——— ——— ——— ———
Total non mark-up/interest income 970,065 610,494 476,104 317,428
——— ——— ——— ———
2,301,294 909,386 1,127,465 291,095
Non mark-up/ interest expenses
Administrative, expenses (1,619,530) (1,208,822) (892,504) (628,339)
Reversal / (Provision) against other assets – net 3,635 (2,459) 4,294 (2,975)
Other charges (17,018) (10,801) (5,973) (5,647)
——— ——— ——— ———
Total non mark-up/interest expenses (1,632,913) (1,222,082) (894,183) (636,961)
——— ——— ——— ———
Profit / (Loss) before taxation 668,381 (312,696) 233,282 (345,866)
Taxation:
Curren (250,000) (182,000) (81,000) (93,000)
Prior
Deferred 55,917 308,343 18,614 212,133
——— ——— ——— ———
(194,083) 126,343 (62,386) 119,133
——— ——— ——— ———
Profit / (loss) after taxation  474,298 (186,353) 170,896 (226,733)
——— ——— ——— ———

(Rupees)

Restated

Restated

Earnings per share- Basic and diluted 0.79 (0.31) 0.28 (0.38)

 

For more information, contact:
Muhammad Altaf Butt
Company Secretary
Soneri Bank Limited
Rupali House,
241-242 Upper Mali Scheme,
Anand Road,
Lahore-54000,
Pakistan.
Tel: 92-42 35713101-04
Fax: 92-42 35713095-96
Web: www.soneribank.com

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