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  Profile  SHAMA AHMED
 Column  FOR THE RECORD
 Corporate Profile   PSO WITNESSES MAJOR TURNAROUND IN TWO YEARS
 Corporate Profile   SONERI BANK LIMITED
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CORPORATE PROFILE

SONERI BANK LIMITED

May 06 -12, 2002

Incorporated on September 28, 1991 the first branch of Soneri Bank Limited formally opened doors for operations in Lahore on April 16, 1992 followed by Karachi Branch on May 09, 1992. The Bank now operates with 30 branches spread all over Pakistan including the Northern Areas of the country where no other private bank has ventured so far. Expansion of branches is based on a policy of maintaining a balance between the urban and rural areas with a view to offering services even in the remote areas of Pakistan. Pleasant and sophisticated atmosphere has been provided in the branches which are all fully air-conditioned and computerised.

The Sponsors: The Sponsor Directors are from M/s. Rupali Polyester Limited who enjoy excellent reputation in the country both professionally and financially and who have invested over Rs. 10 Billion approximately in various industrial and commercial projects of the country.

Financial Highlights

(Rs. in Million)

2001

2000

Share-Holders Equity

1,556

1,249

Deposits

16,054

14,029

Financing to Customers

10,199

10,931

Investments & Lendings to/

6,617

6,250

Placements with Financial Institutions

   

Total Assets

20,541

20,117

Pre-Tax- Profit

551

394

Import & Export Business

50,056

39,115

No. of Accounts

128,598

111,236


Pay out to share-holders has been

1993

10 percent Right Shares

1994

15 percent Bonus Shares

1995

15 percent Cash Dividend

1996

17.5 percent Cash Dividend

1997

20 per cent Bonus Shares

1998

10 per cent Interim Bonus Shares

 

10 per cent Final Cash Dividend

1999

25 per cent Bonus Shares

2000

25 per cent Bonus Shares

2001

30 per cent Bonus Shares

The Management: The President & Chief Executive of the Bank Mr. Safar Ali K Lakhani, a carrier banker with experience spread over a period of more than 35 years, has had extensive exposures to domestic and international banking both at home and abroad. He has a team of professional and experienced bankers to assist him.

Service: Soneri Bank offers a full range of Corporate, Treasury and Retail Banking Services with emphasis on Trade-related services to importers and exporters. The essence of business philosophy is to cater to the banking requirements of small & medium sized entrepreneurs, providing them qualitative & competitive services. Emphasis is on encouraging exports and major portion of the advances portfolio of the bank is related to export financing.

Mindful of the requirements of automation the bank has started Soneri Tele-Banking Service & has installed its own ATMs at important locations in Karachi Lahore, Islamabad & Hyderabad. The bank has also joined the first live shared ATM Switch with leading banks which will provide access through 90 ATMs operating in 10 major cities of the country. Soneri Bank has successfully launched its own Rupee Travellers Cheques and also On-Line Banking services providing on the spot banking facilities to its customers through its branches all over Pakistan.

International Relations: The extensive correspondent network and the excellent relations maintained have proved valuable in bank's efforts in conducting international banking business. The bank was able to handle trade finance business of over Rs. 50 Billion in 2001. (approx. over U.S.$. 830 Million). Major international banks like Citibank, ABN-AMRO, Standard Chartered, American Express, HSBC etc. have made available substantial credit lines to the bank.

International Finance Corporation in partnership with ABN-AMRO Bank have structured a Trade Enhancement Facility for U.S.$. 100 Million for Pakistan in which Soneri Bank is one of the six participating banks selected by I.F.C.

Human Resource Development and Training Programme: Great emphasis is laid on the development of human resources. The bank regularly sends officers and executives to attend Banking Seminars both inside the country and abroad. Foundation courses for the new entrants in banking are a continuing features in our academy.

Corporate Data

Board of Directors

Company Secretary

Mr. Abdul Hayee

Chairman

Mr. Jafferali M. Feerasta

Auditors

Taseer Hadi Khalid & Co.

Chief Executive

Chartered Accountants

Mr. Safarali K. Lakhani

Legal Advisors

Directors

Mandviwalla & Zafar, Advocates

Mr. Badruddin J. Feerasta

Tahir Ali Tayebi & Co., Advocates

Mr. Amin A. Feerasta

Shaikh Atta-Ur-Rehman & Associates,

Mr. Nooruddin B. Feerasta (Jr.)

Advocates

Mr. Abdul Hayee

Mr. Asadullah Khawaja (Icp Nominee)

Mr. Hasan A. Bilgrami (Nit Nominee)