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.
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
The Cabinet has approved a proposal for Sri Lankans overseas to apply for their passports through an online system via the Lankan diplomatic missions.
Ajith Gallage, the owner of a Bird Park in Nagarawawa, Hambantota, has been remanded over allegations of concealing illegally imported motorcycles, in a warehouse owned by him.
A passenger attempting to smuggle the largest quantity of gold of 35 kilo grams was arrested by the Customs at the Bandaranaike International Airport (BIA) today, a senior official said.
Leave Comments