Amana Bank has successfully continued its growth trajectory to record a Profit Before Tax of Rs. 940 million for the nine months ending 30 September 2022, up 28 per cent YoY growth compared to the 2021 corresponding period of Rs. 736.3 million, despite a challenging economic environment.
The bank’s Profit After Tax for the same period reflected a 39 per cent YoY growth to reach Rs. 600.5 million.
During the 9-month period, the bank’s Financing Income grew by 44 per cent to Rs. 8.09 billion. Owing to policy rate changes resulting in higher cost of deposits and lower financing margin, the bank’s Net Financing Income stood at Rs. 3.10 billion.
In his comments on the results, the bank’s Managing Director/CEO Mohamed Azmeer said: “In line with Central Bank directives and guidelines, the bank continued to play a key role in stimulating economic recovery by supporting our customers at all levels. Thanks to our unique model of banking which is development focussed, we stand protected and unexposed to many of the elements which continue to challenge the entire banking industry.”
Despite headline inflation increasing in the recent past, where it increased from 66.7 per cent in August to 73.7 per cent in September, the bank contained the increase in its operating expenses to 14 per cent.
You can share this post!
Content
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
Leave Comments