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August 31, 2015 7:57 AM ET

Banks

Company Overview of Amana Bank PLC

Company Overview

Amana Bank PLC provides Sharia based commercial banking products and services in Sri Lanka. The company operates through Consumer Banking, Business Banking, and Treasury segments. It offers current accounts, savings and term investment accounts, foreign currency accounts, children’s savings accounts, personal salary accounts, ladies savings accounts, and senior citizen savings accounts; overdrafts; equipment, lease, and solar financing; advances against gold; education finance; home and property financing; and leasing services, as well as savings and easy payment plan services. The company also provides SME and corporate banking products comprising deposit products, such as current, savings,...

480, Galle Road

Colombo,  3

Sri Lanka

Founded in 2009

602 Employees

Phone:

94 11 775 6000

Fax:

94 11 257 4419

Key Executives for Amana Bank PLC

Amana Bank PLC does not have any Key Executives recorded.

Amana Bank PLC Key Developments

Amana Bank PLC Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Amana Bank PLC reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company achieved an impressive acceleration in profitability during second quarter of 2015 by recording a profit of LKR 47.5 million. As a result, the Bank’s Profit for the 1st Half of 2015 propelled to LKR 70.6 million, compared to the loss after tax of LKR 134.9 million recorded in the corresponding period of 2014. Financing Income was LKR 1,337.2 million and a net operating income was LKR 950.6 million. Aided by operating efficiency and cost management initiatives, the Bank was successful in achieving an operating profit of LKR 142.4 million compared to the operating loss of LKR 112.2 million recorded in the corresponding period of 2014.

Amãna Bank Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Amãna Bank announced earnings results for the fourth quarter and full year ended December 31, 2014. The bank recorded LKR 88.5 million as profit before tax for the quarter. The Bank has minimized its loss before tax for the year to LKR 80.3 million from LKR 438 million in 2013. Net financing income recorded a significant growth of 68% to reach LKR 1,209.6 million. The bank achieved a total operating income of LKR 1,668.7 million indicating a growth of 57%.

Amana Bank PLC Appoints Rajiv Nandlal Dvivedi as Non- Executive, Independent Director

The board of directors of Amana Bank PLC announced that Mr. Rajiv Nandlal Dvivedi has been appointed as a Non- Executive, Independent Director with effect from October 18, 2014. Rajiv Nandlal Dvivedi has 35 years of experience with Citibank holding various senior positions. Eight years of Consumer Banking experience in several senior roles, with Citibank New York, US.

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