AMÃNA BANK PLC Amana Bank PLC (PB 3618 PQ)
Interim Financial Statements
31 December 2021
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 31 DECEMBER
FOR THE YEAR ENDED | FOR THE QUARTER ENDED | |||||||
31 DECEMBER | 31 DECEMBER | |||||||
2021 | 2020 | Change | 2021 | 2020 | Change | |||
(Rs '000) | (Rs '000) | % | (Rs '000) | (Rs '000) | % | |||
Financing Income | 7,674,187 | 7,211,643 | 6% | 2,069,631 | 1,946,673 | 6% | ||
Financing Expenses | (3,418,694) | (3,757,313) | (9%) | (985,612) | (816,681) | 21% | ||
Net Financing Income | 4,255,493 | 3,454,330 | 23% | 1,084,019 | 1,129,992 | (4%) | ||
Net Fee and Commission Income | 401,922 | 328,563 | 22% | 149,819 | 129,553 | 16% | ||
Net Trading Income | 155,105 | 444,376 | (65%) | 262,531 | 109,707 | 139% | ||
Net Gains / (Losses) from Financial Investments at Fair Value | (7,013) | 3,261 | (315%) | (1,181) | 5,078 | (123%) | ||
through Profit or Loss | ||||||||
Net Gains / (Losses) from Derecognition of Financial Assets | (11,732) | 929 | (1,363%) | (12,713) | 591 | (2,251%) | ||
Net Other Operating Income | 5,227 | 2,302 | 127% | 1,854 | 4 | 50,390% | ||
Total Operating Income | 4,799,002 | 4,233,761 | 13% | 1,484,329 | 1,374,925 | 8% | ||
Impairment Charges | (784,952) | (513,727) | 53% | (370,989) | (222,686) | 67% | ||
Net Operating Income | 4,014,050 | 3,720,034 | 8% | 1,113,340 | 1,152,238 | (3%) | ||
Personnel Expenses | 1,399,260 | 1,446,138 | (3%) | 383,712 | 365,154 | 5% | ||
Depreciation and Amortisation of Property, Plant, Equipment | 338,317 | 351,552 | (4%) | 99,762 | 91,514 | 9% | ||
and Right-of-Use Assets | ||||||||
Other Operating Expenses | 831,828 | 767,728 | 8% | 189,114 | 159,329 | 19% | ||
Total Operating Expenses | 2,569,405 | 2,565,418 | 0% | 672,588 | 615,997 | 9% | ||
Operating Profit Before Value Added Tax on Financial Services | 1,444,645 | 1,154,616 | 25% | 440,752 | 536,241 | (18%) | ||
Value Added Tax on Financial Services | (363,632) | (393,167) | (8%) | (95,992) | (164,185) | (42%) | ||
Profit Before Tax | 1,081,013 | 761,449 | 42% | 344,760 | 372,056 | (7%) | ||
Tax Expenses | (256,316) | (297,753) | (14%) | 46,730 | (158,723) | (129%) | ||
Profit for the Period | 824,697 | 463,696 | 78% | 391,490 | 213,333 | 84% | ||
Earnings Per Share - Basic / Diluted (in Rs.) | 0.31 | 0.17 | 78% | 0.15 | 0.08 | 84% | ||
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Amãna Bank PLC (PB 3618 PQ)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER
FOR THE YEAR ENDED | FOR THE QUARTER ENDED | ||||||
31 DECEMBER | 31 DECEMBER | ||||||
2021 | 2020 | Change | 2021 | 2020 | Change | ||
(Rs '000) | (Rs '000) | % | (Rs '000) | (Rs '000) | % | ||
Profit for the Period | 824,697 | 463,696 | 78% | 391,490 | 213,333 | 84% | |
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 | 54,018 | 145,850 | (63%) | 89,130 | 21,608 | 312% | |
Comprehensive Income | |||||||
54,018 | 145,850 | (63%) | 89,130 | 21,608 | 312% | ||
Retirement Benefit Liability | 42,661 | 6,063 | 604% | 42,661 | 6,063 | 604% | |
Deferred Tax Effect on Retirement Benefit Liability | (10,239) | (1,698) | 503% | (10,239) | (1,698) | 503% | |
32,422 | 4,365 | 643% | 32,422 | 4,365 | 643% | ||
Revaluation Surplus on Property, Plant and Equipment | 274,906 | - | - | 274,906 | - | - | |
Deferred Tax Effect on Revaluation Surplus (net) | (14,589) | - | - | (59,472) | - | - | |
260,317 | - | - | 215,434 | - | - | ||
Net Comprehensive Income not to be Reclassified to Profit or Loss in | 346,757 | 150,215 | 131% | 336,986 | 25,973 | 1,197% | |
Subsequent Periods: | |||||||
Other Comprehensive Income / (Loss) for the Period Net of Tax | 346,757 | 150,215 | 131% | 336,986 | 25,973 | 1,197% | |
Total Comprehensive Income for the Period | 1,171,454 | 613,911 | 91% | 728,476 | 239,306 | 204% | |
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Amãna Bank PLC (PB 3618 PQ)
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER
AS AT 31 DECEMBER | |||
2021 | 2020 | Change | |
(AUDITED) | (AUDITED) | ||
% | |||
(Rs' 000) | (Rs' 000) | ||
Assets | |||
Cash and Cash Equivalents | 8,673,811 | 6,859,970 | 26% |
Balances with Central Bank of Sri Lanka | 4,800,027 | 11,410,471 | (58%) |
Placements with Banks | 27,302,269 | 11,580,357 | 136% |
Placements with Licensed Finance Companies | 73 | 3,108,069 | (100%) |
Derivative Financial Assets | 510,066 | 228,515 | 123% |
Financial Assets Designated at Fair Value through Profit or Loss | 64,634 | 55,922 | 16% |
Financial Assets at Amortised Cost - Financing and Receivables to Other Customers | 75,816,397 | 62,566,964 | 21% |
Financial Assets Measured at Fair Value through Other Comprehensive Income | 346,010 | 291,991 | 19% |
Other Assets - Financial | 1,213,996 | 1,048,478 | 16% |
Property, Plant, Equipment And Right-of-Use Assets | 2,447,150 | 2,354,608 | 4% |
Intangible Assets | 232,835 | 257,240 | (9%) |
Other Assets - Non Financial | 449,563 | 409,783 | 10% |
Deferred Tax Assets | 52,072 | - | - |
Total Assets | 121,908,903 | 100,172,368 | 22% |
Liabilities | |||
Due to Banks | 9,009,986 | 1,967,893 | 358% |
Derivative Financial Liabilities | 783,200 | 111,882 | 600% |
Financial Liabilities at Amortised Cost - Due to Depositors | 96,157,776 | 83,554,241 | 15% |
Other Liabilities - Financial | 1,696,127 | 1,287,363 | 32% |
Current Tax Liabilities | 419,795 | 420,491 | (0%) |
Dividend Payable | 6,459 | 6,526 | (1%) |
Deferred Tax Liabilities | - | 70,266 | (100%) |
Retirement Benefit Liability | 131,081 | 170,664 | (23%) |
Other Liabilities - Non Financial | 65,946 | 115,764 | (43%) |
Total Liabilities | 108,270,370 | 87,705,090 | 23% |
Shareholders' Funds | |||
Stated Capital | 11,079,706 | 10,819,561 | 2% |
Statutory Reserve Fund | 157,693 | 116,457 | 35% |
Revaluation Reserve | 1,076,688 | 817,458 | 32% |
Fair Value Reserve | 98,898 | 44,880 | 120% |
Retained Earnings | 1,225,548 | 668,922 | 83% |
Total Equity | 13,638,533 | 12,467,278 | 9% |
Total Liabilities and Shareholders' Funds | 121,908,903 | 100,172,368 | 22% |
Net Asset Value per Ordinary Share | 5.07 | 4.79 | |
Commitments and Contingencies | 67,801,327 | 65,337,220 | |
Memorandum Information | |||
Number of Employees | 777 | 869 | |
Number of Branches | 33 | 32 | |
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
19 February 2022
We, the undersigned, being the Chief Executive Officer and Directors of Amana Bank PLC certify jointly that:-
- 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.
- the information contained in these statements have been extracted from the audited Financial Statements of the Bank.
Sgd. | Sgd. | Sgd. |
Mohamed Azmeer | Ali Asghar Akbarally | Tishan Subasinghe |
Chief Executive Officer | Chairman | Director |
19 February 2022 | 19 February 2022 | 19 February 2022 |
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Amãna Bank PLC (PB 3618 PQ)
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER
RUPEES IN THOUSANDS
Stated | Statutory | Revaluation | Fair Value | Retained | Total | |||
Capital | Reserve | Reserve | Reserve | Earnings | ||||
Fund | Audited | |||||||
As at 1 January 2020 | 10,619,450 | 93,273 | 818,544 | (100,970) | 423,270 | 11,853,568 | ||
Profit for the Year | 463,695 | 463,695 | ||||||
Other Comprehensive Income for the year | 145,850 | 4,365 | 150,215 | |||||
Scrip Dividend - 2020 | 200,111 | (200,111) | - | |||||
Share Issue Expenses | (200) | (200) | ||||||
Transfers to Statutory Reserve Fund | 23,185 | (23,185) | - | |||||
Transferred to Retained Earnings | (1,086) | 1,086 | - | |||||
As at 1 January 2021 | 10,819,561 | 116,458 | 817,457 | 44,880 | 668,922 | 12,467,278 | ||
Scrip Dividend - 2021 | 260,145 | (260,145) | - | |||||
Share Issue Expenses | (200) | (200) | ||||||
Profit for the Year | - | - | - | - | 824,697 | 824,697 | ||
Other Comprehensive Income for the year | - | - | 260,317 | 54,018 | 32,422 | 346,757 | ||
Transfers to Statutory Reserve Fund | - | 41,235 | - | - | (41,235) | - | ||
Transferred to Retained Earnings | - | - | (1,086) | - | 1,086 | - | ||
As at 31 December 2021 | 11,079,706 | 157,693 | 1,076,688 | 98,898 | 1,225,548 | 13,638,533 |
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Amana Bank plc published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2022 11:01:02 UTC.
