KARACHI: Soneri Bank Ltd reported a decline in full-year profit after tax (PAT) for 2024, as rising expenses offset gains in interest income. The bank’s shareholders approved the audited financial results in the 33rd annual general meeting held on March 13, 2025.

The bank posted a PAT of Rs5.9 billion, down from Rs6.08 billion in 2023, despite a 9.6 per cent increase in net interest income to Rs24.95 billion. Earnings per share stood at Rs5.35, compared to Rs5.51 in the previous year. The board approved a final cash dividend of 17.5 per cent (Rs. 1.75 per share), bringing the total payout for the year to 30 per cent (Rs3 per share).

Non-interest income rose 4.6 per cent to Rs6.76 billion, while operating expenses were managed at Rs19.53 billion, a 26.2 per cent increase. Soneri added 101 branches in 2024, taking its total network to 544.

Deposits grew 4.9 per cent year-on-year to Rs543.15 billion, with the current and savings account (CASA) ratio improving to 82.6 per cent from 79.6 per cent in 2023. The bank recorded net reversals of Rs461 million on loans and investments, boosting specific provisioning coverage to 90 per cent from 80 per cent a year earlier. Soneri’s capital adequacy ratio stood at 17.7 per cent as of December 2024, while its leverage ratio was recorded at 3.45 per cent.