Amãna recognised as Fastest Growing Retail Bank in Sri Lanka

Tuesday, 5 October 2021 01:27 - - {{hitsCtrl.values.hits}}

Amãna Bank CEO Mohamed Azmeer (right) and VP – Retail Banking and Marketing Siddeeque Akbar along with the certificate received for ‘Fastest Growing Retail Bank in Sri Lanka’

UK’s highly acclaimed Global Banking and Finance Review Magazine has adjudicated Amãna Bank as the ‘Fastest Growing Retail Bank in Sri Lanka’ in its recent awards announcement.

Having achieved a 16% growth in total assets in 2020, Amãna Bank went on to reach the milestone of Rs. 100 billion in a record time, affirming the bank’s credibility of being one of Sri Lanka’s most progressive banks.

As per the bank’s mid-year performance for 2021, total assets have further grown by 9% to close at Rs. 108.7 billion while profit before tax significantly grew by over 100% to reach Rs. 506.8 million from Rs. 250.5 million recorded in H1 of 2020.

Commenting on this award, Amãna Bank Chief Executive Officer Mohamed Azmeer said: “We are truly honoured to have been bestowed the title ‘Fastest Growing Retail Bank in Sri Lanka’ by the prestigious Global Banking and Finance Review, cementing our position amongst the vibrant and highly-competitive banking industry in the country. This award reflects well on our performance in the last few years, a period which also came with many unforeseen challenges which the Bank managed to withstand and overcome resiliently. In a year in which the bank is commemorating its 10th anniversary, this recognition further gives reason for the bank to celebrate as it also testifies the growing demand and acceptance our unique people friendly banking model has garnered in a short period of time. We are thankful to our customers, employees, shareholders and other stakeholders for their continued trust placed in us.”

Adding to its list of accolades, Amãna Bank went further to be recognised by Global Banking and Finance Review as the Best Expat Bank in Sri Lanka in lieu of its dedicated banking proposition ‘Expat Gold’ for Sri Lankan expatriates living overseas as well as being recognised as the Best CSR Bank in Sri Lanka owing to the Bank’s flagship CSR project ‘OrphanCare’.

Amãna Bank is the country’s first and only Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based people friendly banking model. With the mission of ‘Enabling Growth and Enriching Lives,’ the bank reaches out to its customers through a growing network of branches and Self Banking Centres spread across the country while having access to 5400+ ATMs for withdrawals and 850+ Pay&Go Kiosks for real time deposits. Customer can also benefit from an array of customer conveniences such as internet and mobile banking, 24x7 Cash Deposit Machines and banking units exclusively for ladies.

Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries.

In September 2021 Fitch Ratings Sri Lanka affirmed the National Long Term Rating of Amãna Bank to BB+(lka) with a Stable Outlook. Amãna Bank does not have any subsidiaries, associates or affiliated institutions, other than its flagship CSR project the ‘OrphanCare’ Trust.