SONERI BANK LIMITED

 Oct 31 - Nov 13, 2005

Incorporated in 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 52 branches spread all over Pakistan including the Northern Areas of the county 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, computerized and connected real time On-Line.

THE SPONSORS:

Soneri Bank Limited is a Public United Company whose shares are quoted on the Stock Exchanges of Pakistan. The Sponsor Directors are from Rupali Group who enjoy excellent reputation in the country both professionally and financially and who have invented over Rs. 10 billion approximately in various industrial and commercial projects of the country.

Financial highlights:

(Rs. in Million)

 

2004

2003

2002

Share-Holders Equity

3,043

2,604

2,293

Deposits

37,384

27,868

20,545

Financing to customers

24,376

17,349

11,378

Investments & lending;s to/

17,568

14,618

12,453

PLACEMENTS WITH FINANCIAL INSTITUTIONS

Total Assets

49,852

36,966

27,998

Pre-Tax Profit

1,047

813

621

Import & Export Business

76,098

60,044

53,056

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 Bonu Shares

 

10 percent Final Cash Dividend

1999

25 percent Bonus Shares

2000

25 percent Bonus Shares

2001

30 percent Bonus Shares

2002

10 percent Cash Dividend

2003

25 percent Bonus Shares

2004

30 percent Bonus Shares

THE MANAGEMENT:

The President & Chief Executive Officer of the Bank Mr. Safar Ali K, Lakhani, a career banker with experience spread over a period of more than 10 years, has had extensive exposures to domestic and international banking both at home and abroad. He has a team of professional and experienced bankers assisting him.

SERVICE:

Soneri Bank offers a full range of Corporate, Treasury, Retail and Consumer Banking Services with emphasis on Trade Finance related services to importers and exporters. The essence of business philosophy is to cater to the banking requirements of small & medium sized entrepreneur, 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.

The bank has made good progress in the field of automation and related technologies. The bank owns a network of On-site ATMs and connectivity with all the ATMs across Pakistan. The SWIFT On-Line communication and messaging services for International Banking are now available to all the branches dealing in Trade Finance Business for Incoming and Outgoing Messages. 24 hours Telephone Banking facility has also been started for the customers for the real time Balance Enquiry, Instant Statement of Account and ATM/Debit Card related activities. The bank has plans to add more delivery channels and applications to the existing ones.

The first dedicated Islamic Banking Branch has commenced operations and the response is encouraging

Diversification of operations is communing and the bank is looking forward to attain growth through broadening the consumer financing base with the establishment of a full fledged Consumer Finance & SME Departments.

CREDIT RATING

The Pakistan Credit Rating Agency Limited (PACRA) has maintained bank's credit rating at "AA-" for the long term and" A1+" for the short term. These ratings reflect bank's well maintained risk profile with preserved sound asset quality stemming from the bank's low risk appetite and sustained policy of maintaining high liquidity.

INTERNATIONAL RELATIONS:
The extensive correspondent network and the excellent relations with Foreign Correspondents have proved valuable in bank's efforts in conducting trade finance international business. The bank was able to handle trade finance business of over US$ 1.3 billion in 2004. Major international banks like Citibank, 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 in one of the 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 continuing features in our academy.