Amăna Bank continues profitability momentum in Q1, 2015
Having been crowned the Best 'Up-and-Coming' Islamic Bank of the
World and recording its first profitable quarter in Q4, 2014, Amăna Bank
continued its successful momentum by posting a Profit After Tax (PAT) of
Rs. 23.0 million for the first quarter of 2015.
The Bank, in the corresponding period of 2014 registered a Loss After
Tax of Rs. 49.3 million and, therefore, has effectively improved its
bottom-line by Rs. 72.3 million.
According to the financial statements released to the Colombo Stock
Exchange, the Bank's Net Operating Income grew by 29.9% to Rs. 449.0
million, which is mainly attributable to the growth in net financing
income and gains from trading activities.
The PAT of Rs. 23.0 million is after deducting Rs. 31.2 million as
VAT and NBT on financial services from the Bank's noteworthy Operating
Profit of Rs. 54.2 million.
Chief Executive Officer Mohamed Azmeer said, "I am delighted to note
the momentum of the Bank's profitability for the second successive
quarter and confident that we are on course with the Bank's five-year
strategic plan." |
