Amãna Bank : Interim Financial Statements as of 30th June 2022

AMANA BANK PLC (PB 3618 PQ)

INTERIM FINANCIAL STATEMENTS

30 JUNE 2022

VISION

To be an admired leader in providing equitable financial solutions,

not limited to numerics, but also in earning the trust of our

customers, employees, shareholders and country.

MISSION

To adopt a unique and people friendly approach in banking with a passion for continuous improvement, enabling growth and enriching lives.

Amãna Bank PLC (PB 3618 PQ)

STATEMENT OF PROFIT OR LOSS

FOR THE PERIOD ENDED

	FOR THE SIX MONTHS ENDED		FOR THE QUARTER ENDED
		30 JUNE				30 JUNE
	2022	2021	Change		2022	2021	Change
	(Rs '000)	(Rs '000)	%		(Rs '000)	(Rs '000)	%
Financing Income	4,852,245	3,583,795	35%		2,639,589	1,912,196	38%
Financing Expenses	(2,849,039)	(1,588,918)	79%		(1,763,183)	(809,263)	118%
Net Financing Income	2,003,206	1,994,877	0%		876,406	1,102,933	(21%)
Net Fee and Commission Income	285,277	184,470	55%		169,395	81,003	109%
Net Trading Income	424,602	57,922	633%		188,691	18,393	926%
Net Gains / (Losses) from Financial Investments at Fair Value	(26,755)	1,274	(2,200%)		(8,870)	2,116	(519%)
through Profit or Loss
Net Gains / (Losses) from Derecognition of Financial Assets	(146)	975	(115%)		(39)	1,315	(103%)
Net Other Operating Income	2,928	2,889	1%		2,756	2,044	35%
Total Operating Income	2,689,112	2,242,407	20%		1,228,339	1,207,804	2%
Impairment Charges	(494,408)	(273,936)	80%		(252,104)	(173,496)	45%
Net Operating Income	2,194,704	1,968,471	11%		976,235	1,034,308	(6%)
Personnel Expenses	725,101	675,664	7%		366,554	336,840	9%
Depreciation and Amortisation of Property, Plant, Equipment	151,278	159,116	(5%)		75,870	79,066	(4%)
and Right-of-Use Assets
Other Operating Expenses	536,645	424,437	26%		293,523	217,930	35%
Total Operating Expenses	1,413,024	1,259,217	12%		735,947	633,836	16%
Operating Profit Before Value Added Tax on Financial Services	781,680	709,254	10%		240,288	400,472	(40%)
Value Added Tax on Financial Services	(224,733)	(203,551)	10%		(69,098)	(111,863)	(38%)
Profit Before Tax	556,947	505,703	10%		171,190	288,609	(41%)
Tax Expenses	(194,931)	(216,437)	(10%)		(59,917)	(129,979)	(54%)
Profit for the Period	362,016	289,266	25%		111,273	158,630	(30%)
Earnings Per Share - Basic / Diluted (in Rs.)	0.13	0.11	25%		0.04	0.06	(30%)

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Amãna Bank PLC (PB 3618 PQ)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED

	FOR THE SIX MONTHS ENDED		FOR THE QUARTER ENDED
		30 JUNE				30 JUNE
	2022	2021	Change		2022	2021	Change
	(Rs '000)	(Rs '000)	%		(Rs '000)	(Rs '000)	%
Profit for the Period	362,016	289,266	25%		111,273	158,630	(30%)
Other Comprehensive Income/(Loss)
Other Comprehensive Income not to be Reclassified to Profit or Loss in
Subsequent Periods:
Financial Assets - Fair Value through Other Comprehensive Income:
Net Gain / (Loss) on Financial Assets - Fair Value through Other	(81,028)	(48,617)	67%		(8,103)	51,317	(116%)
Comprehensive Income
Deferred Tax Effect on Revaluation Surplus (Net)	-	44,883	(100%)		-	44,883	(100%)
Net Comprehensive Income not to be Reclassified to Profit or Loss in	(81,028)	(3,734)	2,070%		(8,103)	96,200	(108%)
Subsequent Periods:
Other Comprehensive Income / (Loss) for the Period Net of Tax	(81,028)	(3,734)	2,070%		(8,103)	96,200	(108%)
Total Comprehensive Income for the Period	280,988	285,532	(2%)		103,170	254,830	(60%)

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Amãna Bank PLC (PB 3618 PQ)

STATEMENT OF FINANCIAL POSITION

AS AT

	30 JUN 2022	31 DEC 2021	Change
		(AUDITED)
		%
	(Rs' 000)	(Rs' 000)
Assets
Cash and Cash Equivalents	14,005,948	8,673,811	61%
Balances with Central Bank of Sri Lanka	12,329,612	4,800,027	157%
Placements with Banks	26,814,284	27,302,269	(2%)
Placements with Licensed Finance Companies	75	73	3%
Derivative Financial Assets	1,590,020	510,066	212%
Financial Assets Designated at Fair Value through Profit or Loss	50,879	64,634	(21%)
Financial Assets at Amortised Cost - Financing and Receivables to Other Customers	79,346,068	75,816,397	5%
Financial Assets Measured at Fair Value through Other Comprehensive Income	264,982	346,010	(23%)
Other Assets - Financial	1,746,115	1,213,996	44%
Property, Plant, Equipment And Right-of-Use Assets	2,323,025	2,447,150	(5%)
Intangible Assets	224,587	232,835	(4%)
Other Assets - Non Financial	550,975	449,563	23%
Deferred Tax Assets	52,072	52,072	-
Total Assets	139,298,642	121,908,903	14%
Liabilities
Due to Banks	17,804,706	9,009,986	98%
Derivative Financial Liabilities	1,332,089	783,200	70%
Financial Liabilities at Amortised Cost - Due to Depositors	103,646,538	96,157,776	8%
Other Liabilities - Financial	1,963,307	1,696,127	16%
Current Tax Liabilities	436,440	419,795	4%
Dividend Payable	6,452	6,459	(0%)
Retirement Benefit Liability	135,397	131,081	3%
Other Liabilities - Non Financial	54,191	65,945	(18%)
Total Liabilities	125,379,120	108,270,369	16%
Shareholders' Funds
Stated Capital	11,079,706	11,079,706	-
Statutory Reserve Fund	157,693	157,693	-
Revaluation Reserve	1,076,688	1,076,688	-
Fair Value Reserve	17,870	98,898	(82%)
Retained Earnings	1,587,565	1,225,549	30%
Total Equity	13,919,522	13,638,534	2%
Total Liabilities and Shareholders' Funds	139,298,642	121,908,903	14%
Net Asset Value per Ordinary Share	5.17	5.07
Commitments and Contingencies	52,348,716	67,801,327
Memorandum Information
Number of Employees	759	777
Number of Branches	33	33

CERTIFICATION:

I certify that these Financial Statements comply with the requirements of the Companies Act No. 07 of 2007.

Sgd

M. Ali Wahid

Chief Financial Officer

9 August 2022

We, the undersigned, being Chariman and Managing Director / Chief Executive Officer of Amana Bank PLC certify jointly that:-

1. the above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of Sri Lanka and Rule 7.4 of Colombo Stock Exchange.
2. the information contained in these statements have been extracted from the unaudited Financial Statements of the Bank unless indicated as audited.

Sgd	Sgd
Ali Asghar Akbarally	Mohamed Azmeer
Chairman	Managing Director / Chief Executive Officer
9 August 2022	9 August 2022

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Amãna Bank PLC (PB 3618 PQ)

STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHS ENDED 30 JUNE

RUPEES IN THOUSANDS

		Stated	Statutory	Revaluation	Fair Value	Retained	Total
		Capital	Reserve	Reserve	Reserve	Earnings
			Fund
	As at 31 December 2020 (Audited)	10,819,561	116,458	817,457	44,880	668,922	12,467,278
	Profit for the six months ended 30 June 2021	-	-	-	-	289,266	289,266
	Total Comprehensive Income for the six months ended 30 June 2021	-	-	-	(3,734)	-	(3,734)
	As at 30 June 2021	10,819,561	116,458	817,457	41,146	958,188	12,752,810
	Scrip Dividend - 2021	260,145				(260,145)	-
	Share Issue Expenses					(200)	(200)
	Profit for the six months ended 31 December 2021	-	-	-	-	535,432	535,432
	Other Comprehensive Income for the six months ended 31 December 2021	-	-	260,317	57,752	32,423	350,492
	Transfers to Statutory Reserve Fund	-	41,235	-	-	(41,235)	-
	Transferred to Retained Earnings	-	-	(1,086)	-	1,086	-
	As at 31 December 2021 (Audited)	11,079,706	157,693	1,076,688	98,898	1,225,549	13,638,534
	Profit for the six months ended 30 June 2022	-	-	-	-	362,016	362,016
	Total Comprehensive Income for the six months ended 30 June 2022	-	-	-	(81,028)	-	(81,028)
	As at 30 June 2022	11,079,706	157,693	1,076,688	17,870	1,587,565	13,919,522

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