Soneri Banks Liabilities

8/7/2019 Soneri Banks Liabilities

http://slidepdf.com/reader/full/soneri-banks-liabilities 1/31



Soneri Bank Limited was formally incorporated onSeptember 28, 1991. The first Branch commenced

operations in Lahore on April 16, 1992, followed by thelaunch of Karachi's first Branch on May 09, 1992.

The bank currently operates 186 branches, spread all overPakistan including the Northern Areas of the country. Thebanks expansion policy is based on the principle of maintaining a balance between the urban and rural areas.

.



y To develop Soneri Bank Ltd into an aggressive and dynamic financial

institution having the capabilities to provide personalized service to

customers with cutting edge technology and a wide range of

products, and during the process ensure maximum return on assets

with the ultimate goal of serving the economy and the society.



y Soneri Bank·s mission is to serve all banking needs and ensure

our full satisfaction through

- Product innovation,- Personalized banking,

-Top notch service.

y Soneri bank offers a full range of corporate and retail banking

services with special emphasis on providing qualitative andcompetitive services to small and medium enterpenurers.



yy Current & Saving AccountsCurrent & Saving Accountsyy Term depositsTerm deposits

yy Online and electronic banking ServicesOnline and electronic banking Services

yy SMS serviceSMS service

yy

ATM Network & Online BankingATM Network & Online BankingSoneri bank is a fast growing bank with 184 ATMs

operational. Soneri bank offers all chequing account holders onlinebanking services

yy Saving SchemesSaving Schemes

Soneri bank offers a wide range of attractive savingand deposit products to suit all segments off investors.



yy Corporate BankingCorporate BankingSBLs have an innovative team of professionals having extensive

experience of Corporate Investment banking gives it the right platform tosuccess in todays competitive and demanding environment.

yy Consumer FinanceConsumer FinanceConsumer Finance Division was established with a centralized

approach to provide Consumer Finance to account holders of Soneri Bank

who wishes to acquire personal use goods. They offer personalizedservices for our customers and our portfolio is spread all over Pakistan.

yy Islamic BankingIslamic BankingSBLs strong Commitment to Islamic Banking with the objective of

operating Shariah Based Banking in the country. We provide a variety of services including Current A/C, Saving Accounts and Team Deposits andTerm Deposits strictly based on Shariah principles.



y In financial accounting, a liability is defined as an obligation of an

entity arising from past transactions or events, the settlement of

which may result in the transfer or use of assets, provision of

services or other yielding of economic benefits in the future. For

example, if John hits Jane's car, John is liable for the damages to

Jane's vehicle because John is responsible for the damages. In the

case of a company, a liability is recorded on the balance sheet andcan include accounts payable, taxes, wages,



y Current liabilities are those ones which are to be paid by the

organization in one accounting period. Usually an accountingperiod is defined as that period in which a company has to

complete its operating cycle



They are:

y Account Payable- Dividend Payable

y Account Payable refinanced- Income tax Payable

y Tax Payable

y Interest payable

y Wages Payable

y Notes Payable

y Current Maturities of Long term debt



y Long term liabilities are those liabilities which a company has

to pay back after one accounting period i.e., one year. Long

term liabilities can also be of many types. Mainly long term

liabilities are interest bearing.

Example

y Debentures,

y Mortgage loans

y Other bank loans



y Similar to accounts payable, bills payable is the money a bank

borrows, mainly on a short-term basis, and owes to other banks.

BILLS PAYABLE 2010 2009

(Rupees in 000)

In Pakistan 1,857,810 1,763,401

Outside Pakistan - -



y This current liability account reports the amount

of interest the company owes as of the date of the balance

sheet.

Interest Payable 2010 2009

(Rupees in Thousands)

In local Currency 1, 189,392 1,328,892

In Foreign currency 170,817 7,514



y A type of account in the current liabilities section of a company's balance sheet.

This account is comprised of taxes that must be paid to the government within

one year. Income tax payable is calculated according to the prevailing tax law in

the company's home country

Tax Payable 2010 2009

(Rupees in 000)

Tax payable 525,634 812,634



y When an individual or company receives money for a service

or product that has yet to be fulfilled.

Unearned Revenue 2010 2009

(Rupees in 000)

Unearned revenue 110,769 22,426



y The account that records the short-term, noninterest-bearing liabilities of a

business that accumulate over time, such as vacation pay owed to employees.

This liability is different than

accounts payable, which is the liability account for bills that have been

received by a business from purchases on credit

Accrued Expense

Payable2010 2009

(Rupees in 000)

Accrued Expense

Payable110,769 22,426



y Recieving something ofValue in Exchange for an obligation

to payback something of usually greater value at a particular

time in the future.

Borrowing 2010 2009(Rupees in 000)

In Pakistan 12,245,443 9,226,869

Out side Pakistan 125,085 158,653

Borrowing Tot al 12,370,528 9,385,522



y Sub-ordinate loans are one of the types of long term

liabilities, they are issued by the bank for more than a year.

Sub ordinate

Loans2010 2009

(Rupees in 000)

Sub ordinate

Loans 1,197,360 1,197,840



y The company postpones its tax liability from the present period to a

future period. Taxable differences give rise to deferred tax liabilities.

Deferred tax liabilities consist of the tax effect of only one item:

Taxable temporary differences

Deferred t axLiabilit y

2010 2009

(Rupees in 000)

Deferred t ax

liabilit y

384,655 108,429



Deposits and other accounts

Deposits and otheraccounts

2010 2009

(Rupees in 000)

Customers

Remunerative

- Fixed deposits 31,837,893 31,566,518

- Saving Deposits 32,158,780 27,870,081

Non-Renumerative

- Current Account 16,375,714 12,729,790- Call Deposits 93,333 159,388

- Margin deposits 1,065,336 657,183

- Others 136,568 126,760

Total 81,667,623 73,099,720



y In the end we will conclude on this

Soneri Bank should

Soneri Banks Liabilities

Documents

Transcript of Soneri Banks Liabilities