Business
Amãna Bank records resilient performance in Q3
Mohamed Azmeer- Chief Executive Officer of Amana Bank
Deposits and assets grow by 12% and 10%
Amana Bank, through its resilient core banking performance, recorded a Profit Before Tax (PBT) of LKR 389 million and a Profit After Tax (PAT) of LKR 250 million for the nine months ending September 30, 2020. In comparison to the previous quarter which was impacted by the first wave of the pandemic, Amãna Bank has been able to bounce back by virtually doubling its profits in Q3, where PBT grew to LKR 139 million from LKR 70 million recorded in Q2 while PAT in Q3 went up to LKR 80 million from LKR 41 million in Q2.
Demonstrating strength, stability and resilience the Bank continued to maintain a strong momentum in customer deposits during the 9 months closing with a portfolio of LKR 80 billion reflecting a growth of 12% while also improving its CASA ratio to 43% which is one of the highest CASA ratios in the industry. The Bank’s total assets stood at LKR 95 billion, 10% higher than the 2019 closing figure. As a result of conscious strengthening of credit risk parameters in the backdrop of challenging market conditions, advances grew modestly by 3% to close at LKR 60 billion. The Bank continued to maintain a healthy asset portfolio with non performing ratios being well below industry averages where Net NPA and Gross NPA closed at 1.7% and 4.1% respectively. The Bank’s Q3 2020 comprehensive income grew to LKR 191 million recording a 37% increase against the Q3 2019 performance of LKR 140 million.
During the quarter the Bank continued its annual dividend journey by declaring its 3rd consecutive dividend, which was in the form of a scrip dividend this year. This increased the Bank’s number of shares to 2.6 billion resulting in the Bank’s Net Asset Value standing at LKR 4.70 per share. Strengthening the Bank’s position as a growing and stable franchise, Fitch Ratings Sri Lanka in its October 2020 review affirmed the Bank’s National Long Term Rating at BB+(lka) with a Stable Outlook.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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