Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has upgraded the Tier 1 Term Finance Certificate (TFC) rating of Soneri Bank Limited, marking a significant development for the financial institution. The upgraded rating, announced on July 2, 2026, sees the Bank elevated from an 'A' to an 'A+' long-term rating, while the short-term rating remains unchanged as no short-term rating was previously assigned.

According to PACRA, the upgrade underscores Soneri Bank's strengthened liability franchise and sustained earnings momentum. The Bank has shown enhanced profitability and significant progress in trade finance, which have been instrumental in this rating improvement. The outlook remains stable, reflecting confidence in the Bank's strategic direction and operational capabilities.

The revised rating reflects the Bank's improving low-cost deposit mix and robust growth in both funded and non-funded income. The bank's expanding digital banking capabilities and rising trade business volumes further highlight its strong business momentum. According to information available from the Pakistan Stock Exchange (PSX), these improvements are in line with the bank's strategic focus on digital transformation, market expansion, and customer service excellence.

PACRA has also acknowledged Soneri Bank's improved asset quality and prudent risk management strategies. The Bank's expanding conventional and Islamic banking footprint, alongside its strategic focus on scaling up trade finance, positions it well for future non-funded income growth. This comprehensive approach underscores the Bank's commitment to adapting to market demands and enhancing its service offerings in the designated market category.