Soneri Mustaqeem signs an agreement with Path Solutions on iMAL Sharia-Compliant Profit Calculation bobsguide.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bobsguide.com Daily Mail and Mail on Sunday newspapers.
APIs , Banking , Islamic Finance 10:20 am
Path Solutions, a global Islamic fintech house and Soneri Mustaqeem, an Islamic Banking Division of Soneri Bank Limited, announce the selection of
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MAL with Temenos T24 core banking platform, this new Pool Management System will help Soneri Mustaqeen emerge as a modern data-driven Islamic banking division, enhancing governance, accountability and transparency in its daily Islamic financial operations.
Mohammed Kateeb, the Group Chairman & CEO of Path Solutions said,
“It is my pleasure to welcome Soneri Mustaqeem to the growing family of banks providing Sharia-compliant Islamic financial solutions in Pakistan powered by the industry’s leading
Daily Times
May 1, 2021
The Board of Directors of Soneri Bank Limited, in their 184th meeting held in Lahore on 28th April 2021, approved the Bank’s condensed interim financial statements for the quarter ended 31 March 2021.
The Bank posted profit before tax (PBT) of Rs. 1,276 million and profit after tax (PAT) of Rs. 782 million for the quarter ended March 2021, as compared to Rs. 684 million and Rs. 407 million respectively in the same period last year. The Bank’s EPS was recorded at Re. 0.7092 per share for the current reporting quarter, as compared to Re. 0.3696 for the comparative prior period, indicating an impressive growth of 92 percent. The Bank’s Net Interest income for the quarter was reported at Rs. 2,720 million, improving by 28.98 percent against Rs. 2,109 million reported for the same period last year. Non
Business
April 29, 2021
KARACHI: National Bank of Pakistan (NBP) net profit increased to Rs7.708 billion during the quarter ended March 31, 2021, up 87 percent from Rs411.8 billion during the same quarter last year, a bourse filing said on Wednesday.
The EPS clocked in at Rs3.62 during Q1 2021 compared with Rs1.94 during the same quarter in 2020.
“The bank has delivered strong financial results, demonstrating resilience of its business model and efforts of its workforce in serving the nation and working with the government towards swift economic recovery in the country,” the notice said.
Given the significant drop in the policy rate as compared to the same period last year, gross mark-up/interest income was Rs48.5 billion being 33.2 percent lower, YoY, while interest/mark-up expense of the bank dropped by 52.0 percent at Rs26.9 billion.