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February 12, 2016 5:30 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

610 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 Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Amana Bank reported earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company’s noninterest based banking institution, continued its upward profitability momentum by recording profit of LKR 50.6 million. For the nine months, the company’s operating profit before value added tax increased to LKR 225.2 million. Bolstered by strong growth in revenue and effective cost management the profit of LKR 121.2 million demonstrates a significant improvement of LKR 290.0 million or 171.8% when compared with the loss of LKR 168.7 million posted in the corresponding period of 2014. The Bank's top line recorded impressive growth with Financing Income reaching LKR 2.0 billion while Net Operating Income grew by 31.8% to stand at LKR 1.4 billion.

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.

Amana Bank plc Reports Audited Consolidated Earnings Result for the Full Year Ended December 31, 2014

Amana Bank PLC reported audited consolidated earnings result for the full year ended December 31, 2014. For the year, the company reported financing income was LKR 2,407,652,724 against LKR 1,768,061,705 a year ago. Net operating income was LKR 1,574,015,219 against LKR 958,755,463 a year ago. Loss for the year was LKR 80,269,256 or LKR 0.06 per share against LKR 317,033,901 or LKR 0.33 per share a year ago. Net cash flow from operating activities was LKR 988,712,354 against net cash used in operating activities of LKR 3,135,960,340 a year ago. Acquisition of Property, plant and equipment was LKR 92,991,840 against LKR 337,537,707 a year ago.

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