Introduction
Soneri bank was incorporated on September 28, 1991.
The first branch of bank was formally opened doors of operations in Lahore on April 16, 1992. Mohammad Aftab Manzoor, President & CEO The sponsor directors of the soneri bank Limited are
Vision
To better serve customers to help them and the society grow.
Mission
We Provide Innovative and Efficient Financial Solutions to our Customers.
Tenor: Long-term (max. 5 years) Loan type: Term loan facility Repayment: Monthly / quarterly fixed installments. Security: mortgage (urban), liquid securities with 10% to 20% margin.
Seasonal Demands
Tenor: Short term finance. Allowed up to a maximum period of 6 months. Purpose: For the procurement of seasonal crops. The goods / crop are taken under Banks pledge/custody, through Banks approved Muccadum, who controls & supervise the stocks, thereafter provides the Bank, stocks report duly counter signed by the party.
Seasonal Demands
Tenor: Short term finance. Allowed up to a maximum period of 6 months. Purpose: For the procurement of seasonal crops. Security: Goods / crop are taken under Banks pledge/custody, through Banks approved Muccadum. Repayment: Adjusted within 6 months, upon receipt of part or full payment. Delivery Order are issued accordingly.
Guarantee
Tenor: 1 year, 3 year or 5 year. Purpose: advance payment, performance bond, etc. Security: 100% cash margin, fully secured against liquid securities, partially secured against mortgage (urban property). Type of guarantees: Bid bond, performance bond, advance payment, financial guarantee, shipping guarantee, customer guarantee, utilities guarantees.
Import / Export
Wide range of trade products are available to fulfill import/export needs of an SME:
Foreign Bills Purchase or FBP Inland Bills Purchase or IBP Inward Foreign bills or IFB Foreign Currency Finance under FE 25 FLATR ( For Importers) Export Finance ( For Exporters)
Identifies the sources of repayment by visiting the physical plant. It asses the repayment capacity of the borrower on the basis of asset conversion cycle and future cash flows. Condition of borrowers industry Identify key drivers of business and risks/ mitigants
Soneri bank requires PG of all owners of SME except: Facilities secured against liquid assets. Nominee Directors of a limited company.
Taking into account the risk profile of the borrower. Risk profile is determined by the credit officer through qualitative analysis and they have a system software named risk rating matrix software. Details are sent to the risk management division who verify the details. Risk is also judged by industry and company analysis and past record of the firm.
ECIB
Audited financial statements. BBFS
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