Amãna Bank improved its profit momentum in Q3 by accumulating a Profit Before Tax (PBT) of LKR 62.9 million. As a result of this addition, the Bank’s nine-month PBT reached LKR 140.9 million, to achieve a 16.2% year-on-year growth. The Bank’s Profit After Tax (PAT), which surpassed the LKR 100 million mark at the end of nine months to read at LKR 101.4 million, also established a similar growth trajectory. Having achieved a PAT of LKR 56.1 million in the first half of the year, the Bank went on to record a PAT of LKR 45.3 million in Q3 alone.
With a strategic focus on retail and SME financing, the Bank’s top line continued its steady performance by recording a year on year growth of 39.2% in Financing Income to reach LKR 2.9 billion in the first nine months while Net Financing Income during the same period grew by 29.5% to LKR 1.4 billion.
Net Financing Income for Q3 grew by an impressive 40.6% to LKR 533.4 million from LKR 379.4 million achieved in Q3 2015. The Bank also gained from Net Fee and Commission Income amounting to LKR 144.2 million for the nine months reflecting a growth of 20.7% compared to the corresponding period in 2015. Demonstrating a year-on-year growth of 19.9%, the Bank recorded a Net Operating Income of LKR 1.7 billion for the nine months ending 30 September 2016. The Bank went on to record LKR 266.7 million as Operating Profit Before Value Added Tax on Financial Services and Nation Building Tax, which was a growth of 18.4% on a year on year basis.
The Bank’s Total Assets grew year to date by 10.8% to close at LKR 53.0 billion while Customer Deposits and Customer Advances grew by 17.5% and 14.1% to read at LKR 45.3 billion and LKR 37.7 billion respectively. The Bank had been successful in maintaining an industry low Gross Non Performing Advances Ratio of 0.93%.