Wednesday, April 16 2025

Soneri Bank profit falls
Soneri Bank Ltd on Tuesday reported that its profit-after-tax fell 16.47 per cent to Rs1.470 billion for quarter ending on March 31 from Rs1.760bn. The bank’s board of directors in its 210th meeting ap­­proved the bank’s interim financial statements for the quarter ended March 31. The earnings per share declined to Rs1.04 during the quarter compared to Rs1.59 due to additional tax incidence on banking companies introduced via Income Tax (Amen­dment Ordinance) 2024 with an effective tax rate of 65.62pc against 50.48pc in the same quarter last year.
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