SONERI BANK LIMITED

 

Jun 26 - Jul 02, 2000

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 24 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 airconditioned 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 i.e. U.S.$. 200 million approximately in various industrial & commercial projects of the country.

 

Financial Highlights

(Rs. in Millions)

.

1999

1998

Share-Holders Equity

1,103

970

Deposits

12,262

11,040

Financing to Customers

7,797

6,631

Investments

7,116

6,142

Total Assets

17,730

14,860

Pre-Tax Profit

382

335

Import & Export Business

31,574

24,112

Break-up Value of Share

22.01

Rs.19.36

(Face Value Rs.10/= each

   

No. of Accounts

95,687

75,115

 


 

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 Percent Bonus Shares

1998

10 Percent Interim Bonus Shares
10 Percent Final Cash Dividend

1999

25 Percent 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 entrepreneuers, 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 & in the first phase installed two ATMs at important locations in Karachi while the work for connecting the branches on line for customers convenience is being actively pursued.

International Relations:

The extensive correspondent network in just eight years of operations 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. 31 billion in 1999. (approx. U.S.$. 600 million)

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 feature in our academy.