SNBL 1HCY26 profit drops slightly to Rs2.4bn

According to Mettis Global, Soneri Bank Limited (PSX: SNBL) posted a net profit of Rs2.40bn over the half-year to June 30, 2026, down 4% from Rs2.50bn a year earlier. Earnings per share were Rs2.17, against Rs2.26 in the same period of 1HCY25. The modest decline came despite a sharp squeeze in the bank's core interest-based income.

Net mark-up income fell 20% to Rs11.44bn from Rs14.26bn, as mark-up earned dropped 7% to Rs40.38bn and mark-up expensed eased 1% to Rs28.95bn. Non-mark-up income, however, rose 51% to Rs5.37bn, led by securities gains of Rs1.39bn and foreign exchange income of Rs1.33bn. That growth held the fall in total income to 6%, leaving it at Rs16.80bn.

Operating expenses climbed 19% to Rs13.09bn, pushing profit before credit loss allowance down 45% to Rs3.61bn. Credit loss allowances and write-offs rose to Rs1.19bn from Rs150.68m a year earlier. Even after those higher provisions, pre-tax profit reached Rs4.79bn.