Sri Lanka Islamic bank June quarter net profit Rs47.5mn

Amãna Bank, a Sri Lankan bank operating on the non-interest based Islamic banking model, made a net profit of 47.5 million rupees in the June 2015 quarter against a loss of 85.6 million rupees a year ago. Financing income rose 15 percent to 676 million rupees while expenses rose 7.3 percent to 330 million rupees resulting in net financing income rising 24 percent to 346 million rupees during the period. Earnings per share of Amãna Bank were four cents in the quarter. Net fee and commission income rose 16 percent to 38 million rupees. Amãna Bank’s total assets were up 15 percent to 40 billion rupees as at 30 June 2015 from 31 December 2014 while total deposits rose 13 percent to 33 billion rupees.