Company filings and market news from across Sri Lanka's stock market.
The ninth Islamic Finance Forum South Asia concluded in Colombo, highlighting regional growth in Islamic finance and noting Sri Lanka is preparing to issue its first corporate Sukuk. Speakers urged regional integration, greater use of Sukuk and Shariah-compliant products, and fintech/AI adoption to expand access.
Fitch says a successful sovereign debt restructuring and reduced sovereign stresses would support Sri Lankan banks' operating environments and national credit profiles. The agency expects easing funding and liquidity pressures and improved access to foreign‑currency wholesale funding.
Fitch says Sri Lanka’s banks’ financial profiles would improve following a successful sovereign debt restructure for local bondholders, likely easing funding and liquidity pressures and restoring access to foreign-currency wholesale funding.
Fitch says a completed sovereign debt restructuring and improvement in Sri Lanka's credit profile would support banks' operating environment and credit profiles, citing high exposure to local treasury instruments (33.4% of assets) and easing funding and liquidity pressures.
Kavinda de Zoysa has been appointed Chairman of Bank of Ceylon; he is a career banker with over 30 years’ experience and was most recently Director and Country Business Head of Citibank Sri Lanka, with a track record in digitization and corporate banking.
Amana Bank was awarded Best Performance on Risk Management at the ICC Emerging Asia Banking Awards 2024. COO Imtiaz Iqbal said the recognition reflects the bank’s asset-backed model, robust underwriting, comprehensive risk framework and sectoral investment focus that supported credit quality.
Emerald International will donate Rs.100 from every sale of its 'Emerald Active' and 'Emerald Fashion' casual categories to OrphanCare. Amana Bank is noted as the founding sponsor of OrphanCare and covers the trust's administrative and operational costs.
The Clearing Association of Bankers held its 12th AGM on 4 October at HNB Towers; Sampath Bank’s Nalin Liyanage was elected CAB President for 2024/2025. Representatives from multiple commercial banks attended and Prompt Xpress served as the platinum sponsor.
Amana Bank Plc held its Amana Bank Awards 2024 at Shangri-La Colombo, recognising 70 employees across 30 categories, presenting CEO Awards to four managers and honouring 180 staff for ten years of service.
Amana Bank (ABL.N0000) declared an interim cash dividend of Rs. 1.20 per share totalling Rs. 661 million — its highest and seventh successive annual dividend. The bank posted H1 2024 PBT of Rs. 1.35 billion (up 68% YoY), PAT of Rs. 763.4 million (up 82% YoY) and was upgraded by Fitch to BBB-(lka) with a stable outlook.
Amana Bank (ABL.N0000) declared an interim cash dividend of Rs.1.20 per share totalling Rs.661 million, its highest payout and about double last year’s amount. The bank reported H1-2024 PBT of Rs.1.35 billion (+68% YoY), PAT of Rs.763.4 million (+82% YoY), and a Fitch upgrade to BBB-(lka) with stable outlook.
Dividend · Rs 1.20 · XD Oct 9, 2024
First Interim dividend of LKR 1.2/share; XD 2024-10-09; record 2024-10-09; payable 2024-10-29; FY 2024
Amana Bank Plc was upgraded by Fitch to an investment-grade rating of BBB- with a stable outlook. CEO Mohamed Azmeer said the bank built forex reserves by shifting to export-focused financing and highlighted deposits of LKR 146bn, advances LKR 98bn, total assets LKR 174bn and a Stage 3 ratio of 1.7%.
Amana Bank signed an agreement with the Institute of Bankers of Sri Lanka to provide internship placements and to support IBSL's relaunched Diploma in Islamic Banking, offering students practical experience in non‑interest/Islamic banking.
Amana Bank (ABL.N0000) won Gold for Entity of the Year at the SLIBFI Awards 2024.
Amana Bank won the Gold Award for Entity of the Year at the SLIBFI Awards 2024. The bank also secured Gold and Silver for Deal of the Year for financing Vidullanka’s Horana solar plant and a rice-mill solar facility, plus Gold in the ESG category.
Fitch upgraded Amana Bank to national long-term rating BBB-(lka) with a stable outlook, citing improved profitability (4‑yr OP/RWA avg 2%; 1H24 2.9%), asset growth to Rs.174bn and a strengthened capital base after a Rs.6bn rights issue.
AMANA BANK PLC CORPORATE DISCLOSURE: FITCH RATING We take pleasure in informing you that based on the latest rating review carried out by Fitch Ratings Sri Lanka in August 2024, our National Long Term Rating of BB+(lka) with a Stable Outlook has been revised upwards to BBB-(lka) with a Stable Outlook.
The Sri Lanka–Malaysia Business Council held its 30th AGM on 22 August and elected Amana Bank deputy head Marshad Barry as president. The new executive committee includes firms such as Aitken Spence and Dialog Axiata and aims to strengthen bilateral trade and investment.
Amana Bank (ABL.N0000) was named 'Best Islamic Bank in South Asia 2024' at the Brands Review Magazine Awards 2024. The bank says the award reflects its leadership in non-interest financing, support for SME and retail segments and growth in digital banking.
Amana Bank CEO Mohamed Azmeer attended the Global Forum on Islamic Economics and Finance 2024 in Kuala Lumpur to build partnerships and showcase the bank’s growth in Islamic finance; the forum highlighted the use of sukuk for renewable energy and infrastructure projects.
Amana Bank (ABL.N0000) opened its 30th Self Banking Centre at ICST University Park in Punanai and signed an MoU to provide affordable education financing to students. The centre offers 24/7 cash withdrawals, deposits and bill payments for students, staff and the local community.
Amana Bank PLC signed a Training Partner Agreement with the Institute of Bankers of Sri Lanka on 12 July to host internships for DBF and HDBF students; the move supports student work experience and the bank’s CSR/recruitment pipeline.
Amana Bank reported H1 2024 PBT of Rs. 1.35 billion (up 68% YoY) and PAT of Rs. 763.4 million (up 82% YoY). Customer deposits and advances each rose 10% to Rs. 146.3bn and Rs. 98.2bn, CASA 40%, Total Assets Rs. 173.6bn, CET1 15.4% and NAV per share Rs. 4.08 (post 10-for-1 consolidation > Rs. 40).
Amana Bank reported H1 2024 PBT of Rs.1.35bn (+68% YoY) and PAT of Rs.763.4m (+82% YoY); advances and deposits rose 10%, CASA 40%, Stage 3 impaired ratio 1.7% and CET1 15.4%.