Amãna Bank continues profit momentum

Tuesday, 12 May 2015 01:24 - - {{hitsCtrl.values.hits}}

Having recorded its first profitable quarter in Q4 2014, Amãna Bank continued its good form in the first quarter of 2015 by recording a Profit Before Tax of Rs. 23 million compared to the Loss Before Tax of Rs. 49.3 million recorded in the corresponding period of 2014.

As per the financials released to the Colombo Bourse, the bank sustained growth in its top line performance with Net Financing Income showcasing a growth of 15% to reach Rs. 355.7 while achieving Total Operating Income of Rs. 464.1 million, a growth of 23% from last year’s corresponding period. The bank’s top line performance was supported by a 3.2% growth in Total Assets to stand at Rs. 36 billion from Rs. 34.9 achieved in the 2014 financial year.

Amãna Bank is the first licensed commercial bank in Sri Lanka to operate in complete harmony with the non-interest based Islamic banking model and is listed on the DiriSavi Board of the Colombo Stock Exchange.

The bank was recently recognised as the World’s Best ‘Up-and-Comer’ Islamic Bank by ‘Global Finance Magazine’ at the 18th Annual World’s Best Banks Award Ceremony 2014 held in Washington DC, US.

Powered by the stability and support of its strategic shareholders including, Bank Islam Malaysia Berhad, AB Bank in Bangladesh and the Islamic Development Bank based in Saudi Arabia, Amãna Bank is making strong inroads within the Sri Lankan banking industry and is focused on capitalising on the growing market potential for its unique banking model across the country.