Amãna Bank, Sri Lanka’s one and only licensed commercial bank operating in full conformity to the non-interest based Islamic banking model, has recorded its first profitable quarter for Q4 2014. 
According to the financials released to the Colombo Stock Exchange, the bank which commenced achieving monthly operating profits in August 2014, recorded Rs. 88.5 million as profit before tax for the 4th quarter of 2014. As a result, the bank has minimised its loss before tax for the year to Rs. 80.3 million from Rs. 438 million in 2013.
The bank continued to showcase a strong momentum in its top line performance while total assets of the bank witnessed an impressive growth of 49% to stand at Rs. 34.9 billion. For the year ending 31 December 2014, net financing income recorded a significant growth of 68% to reach Rs. 1,209.6 million. The bank achieved a total operating income of Rs. 1,668.7 million indicating a growth of 57%.
The bank’s growing popularity and acceptance resulted in a 62% growth in customer deposits during the year to reach Rs. 29.2 billion and a 69% growth in customer advances to reach Rs. 25.4 billion.