The Board of Directors of Soneri Bank Limited in its meeting has recommended issuance of 'bonus shares' at the rate of 30 percent, ie, 30 shares for every 100 shares held which will result in capitalisation of Rs381,576,000, raising the paid-up capital of the bank to Rs 1,653 million. As a result share-holders' equity will also exceed Rs 3 billion. The deposits registered a 34 percent growth in 2004, the pre-tax profit increased by 30 percent to over Rs 1 billion.

-PR

Copyright Business Recorder, 2005