Amãna Bank in an aggressive journey two years on

Friday, 20 September 2013 00:43 -     - {{hitsCtrl.values.hits}}

Amãna Bank, Sri Lanka’s only licensed commercial bank operating entirely on a non-interest based model has made significant progress in business growth and market impact since its launch in August 2011. The Bank has recorded a 188% growth in customeradvances anda 70% growth in customer deposits during the 2 years of its business operation. The growth momentum in 2013 has accelerated further recording over Rs2.8 Billion in customer advances growth and over Rs2.6 Billion in customer deposit customer growth. The Bank’s achievements and business growth reflects the market acceptance and potential forits unique model of banking.Despite being impacted by the regulatorycredit ceiling on all banks last year, the Bank has regathered the momentum and managed to achieve substantial growth in its customer advances this year. The Bank also noted that over 100,000 customers have accepted its banking model already and this number is growing rapidly every month. The Bank has a growing footprint of 23 strategically located branches and provides access through over 500 ATMs Island wide. Apart from the aggressive expansion of its branch network, the Bank has launched many initiatives targeted at offering greater convenience to its customers such as, Saturday Banking, Extended Banking hours and a 24x7 deposit kiosk facilitating cash and cheque deposits. The Bank will very soon introduce its own Debit Card to facilitate the payment needs of its customers. A spokesman said Amãna Bank is sincere in its belief and commitment to offer a financial model that underwrites ethics, equity and fairness for the greater good of society. Powered by the stability and the support of its strategic shareholders Bank Islam Malaysia Berhad, the Islamic Development Bank based in Saudi Arabia and AB Bank in Bangladesh, the Bank is making an aggressive journey in the Sri Lankan banking industry and is focused on capitalizing the growing market potential for this unique banking model across the country.