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

Amana Bank PLC (PB 3618 PQ)

Interim Financial Statements

30 September 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 NINE MONTHS ENDED		FOR THE QUARTER ENDED
	30 SEPTEMBER			30 SEPTEMBER
	2022	2021	Change		2022	2021	Change
	(Rs '000)	(Rs '000)	%		(Rs '000)	(Rs '000)	%
Financing Income	8,091,846	5,604,556	44%		3,239,600	2,020,761	60%
Financing Expenses	(4,987,935)	(2,433,082)	105%		(2,138,896)	(844,164)	153%
Net Financing Income	3,103,911	3,171,474	(2%)		1,100,704	1,176,597	(6%)
Net Fee and Commission Income	516,229	252,103	105%		230,952	67,633	241%
Net Trading Income	637,146	(107,426)	693%		212,544	(165,348)	229%
Net Gains / (Losses) from Financial Investments at Fair Value	(7,934)	(5,832)	36%		18,821	(7,106)	365%
through Profit or Loss
Net Gains / (Losses) from Derecognition of Financial Assets	(257)	981	(126%)		(111)	6	1,950%
Net Other Operating Income	3,001	3,373	(11%)		73	484	(85%)
Total Operating Income	4,252,096	3,314,673	28%		1,562,983	1,072,266	46%
Impairment Charges	(758,563)	(413,963)	83%		(264,155)	(140,027)	89%
Net Operating Income	3,493,533	2,900,710	20%		1,298,828	932,239	39%
Personnel Expenses	1,095,968	1,015,548	8%		370,866	339,884	9%
Depreciation and Amortisation of Property, Plant, Equipment	226,747	238,555	(5%)		75,469	79,439	(5%)
and Right-of-Use Assets
Other Operating Expenses	846,791	642,714	32%		310,145	218,277	42%
Total Operating Expenses	2,169,506	1,896,817	14%		756,480	637,600	19%
Operating Profit Before Value Added Tax on Financial Services	1,324,027	1,003,893	32%		542,348	294,639	84%
Value Added Tax on Financial Services	(384,039)	(267,640)	43%		(159,306)	(64,089)	149%
Profit Before Tax	939,988	736,253	28%		383,042	230,550	66%
Tax Expenses	(339,495)	(303,046)	12%		(144,564)	(86,609)	67%
Profit for the Period	600,493	433,207	39%		238,478	143,941	66%
Earnings Per Share - Basic / Diluted (in Rs.)	0.22	0.16	39%		0.09	0.05	66%

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Amãna Bank PLC (PB 3618 PQ)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED

	FOR THE NINE MONTHS ENDED		FOR THE QUARTER ENDED
	30 SEPTEMBER			30 SEPTEMBER
	2022	2021	Change		2022	2021	Change
	(Rs '000)	(Rs '000)	%		(Rs '000)	(Rs '000)	%
Profit for the Period	600,493	433,207	39%		238,478	143,941	66%
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	(16,206)	(35,112)	(54%)		64,822	13,505	380%
Comprehensive Income
Deferred Tax Effect on Revaluation Surplus (Net)	-	44,883	(100%)		-	-	-
Net Comprehensive Income not to be Reclassified to Profit or Loss in	(16,206)	9,771	266%		64,822	13,505	380%
Subsequent Periods:
Other Comprehensive Income / (Loss) for the Period Net of Tax	(16,206)	9,771	266%		64,822	13,505	380%
Total Comprehensive Income for the Period	584,287	442,978	32%		303,300	157,446	93%

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Amãna Bank PLC (PB 3618 PQ)

STATEMENT OF FINANCIAL POSITION

AS AT

	30 SEP 2022	31 DEC 2021	Change
		(AUDITED)
		%
	(Rs' 000)	(Rs' 000)
Assets
Cash and Cash Equivalents	21,147,560	8,673,811	144%
Balances with Central Bank of Sri Lanka	4,683,676	4,800,027	(2%)
Placements with Banks	27,786,534	27,302,269	2%
Placements with Licensed Finance Companies	76	73	4%
Derivative Financial Assets	71,953	510,066	(86%)
Financial Assets Designated at Fair Value through Profit or Loss	79,652	64,634	23%
Financial Assets at Amortised Cost - Financing and Receivables to Other Customers	83,434,232	75,816,397	10%
Financial Assets Measured at Fair Value through Other Comprehensive Income	329,804	346,010	(5%)
Other Assets - Financial	2,194,363	1,213,996	81%
Property, Plant, Equipment And Right-of-Use Assets	2,267,630	2,447,150	(7%)
Intangible Assets	219,217	232,835	(6%)
Other Assets - Non Financial	592,227	449,563	32%
Deferred Tax Assets	52,072	52,072	-
Total Assets	142,858,996	121,908,903	17%
Liabilities
Due to Banks	16,203,434	9,009,986	80%
Derivative Financial Liabilities	12,000	783,200	(98%)
Financial Liabilities at Amortised Cost - Due to Depositors	109,724,034	96,157,776	14%
Other Liabilities - Financial	2,042,830	1,696,127	20%
Current Tax Liabilities	419,480	419,795	(0%)
Dividend Payable	6,399	6,459	(1%)
Retirement Benefit Liability	141,022	131,081	8%
Other Liabilities - Non Financial	86,976	65,945	32%
Total Liabilities	128,636,175	108,270,369	19%
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	82,692	98,898	(16%)
Retained Earnings	1,826,042	1,225,549	49%
Total Equity	14,222,821	13,638,534	4%
Total Liabilities and Shareholders' Funds	142,858,996	121,908,903	17%
Net Asset Value per Ordinary Share	5.29	5.07
Commitments and Contingencies	48,286,655	67,801,327
Memorandum Information
Number of Employees	776	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.

============

Signed

M. Ali Wahid

Chief Financial Officer

11 November 2022

We, the undersigned, being Chairman 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.

Signed	Signed
Ali Asghar Akbarally	Mohamed Azmeer
Chairman	Managing Director / Chief Executive Officer
11 November 2022	11 November 2022

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Amãna Bank PLC (PB 3618 PQ)

STATEMENT OF CHANGES IN EQUITY

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 nine months ended 30 September 2021	-	-	-	-	433,207	433,207
	Total Comprehensive Income for the nine months ended 30 September 2021	-	-	-	9,771	-	9,771
	Share Issue Expenses					(200)	(200)
	As at 30 September 2021	10,819,561	116,458	817,457	54,651	1,101,929	12,910,056
	Scrip Dividend - 2021	260,145				(260,145)	-
	Profit for the three months ended 31 December 2021	-	-	-	-	535,432	535,432
	Other Comprehensive Income for the three months ended 31 December 2021	-	-	260,317	44,247	(111,518)	193,046
	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 nine months ended 30 September 2022	-	-	-	-	600,493	600,493
	Total Comprehensive Income for the nine months ended 30 September 2022	-	-	-	(16,206)	-	(16,206)
	As at 30 September 2022	11,079,706	157,693	1,076,688	82,692	1,826,042	14,222,821

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