Amana Bank crosses Rs. 100 b in deposits

Monday, 11 April 2022 00:00 - - {{hitsCtrl.values.hits}}

Amana Bank crossed the Rs. 100 billion milestone in Customer Deposits as of Q1 2022 thereby becoming one of the fastest Licensed Commercial Banks to reach this mark within a very short period.

CEO Mohamed Azmeer

Deposits and Digital Innovation Head Arshad Jamaldeen

The Bank’s accelerated growth in deposits is owing to the wide and growing acceptance of its people friendly banking model across all Sri Lankans. As at end of Q1 2022, the Bank’s Customer Deposits stood at Rs. 105.7 billion, up by 10%, compared to the 2021 closing figure of Rs. 96.2 Billion.

In 2021, the Bank was also bestowed the award for Fastest Growing Retail Bank in Sri Lanka by Global Banking and Finance Review, while also being recognised as one of the Top 50 Strongest Islamic Bank’s in the World by The Asian Banker. Commenting on this milestone in Customer Deposits, Amana Bank’s Chief Executive Officer Mohamed Azmeer said: “We are honoured to have crossed this milestone in such a short period of time, which testifies to the acceptance of our people friendly banking model, and the attractive returns paid by the Bank on a profit sharing basis. We are thankful to our customers for the continued trust and confidence placed in us.”

Further the Bank’s Asst. Vice President – Deposits and Digital Innovation Arshad Jamaldeen said: “Over the years Amana Bank has introduced a strong array of deposit products including the award winning ‘Savings Plan’ and ‘Flexi Term Investment’. The customer propositions ‘Prestige’, ‘Vantage’ and ‘Expat Gold’ ensures prioritised service and personalised engagement through dedicated relationship management and value added benefits, resulting in a lot of attraction and loyalty, which is testified by our growth numbers.”

Amãna Bank is the country’s first and only Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based people friendly banking model.