Amana Bank 2021 PBT up by 42%, crosses Rs. 1b milestone
View(s):Amana Bank celebrated a decade of people-friendly banking in 2021 and concluded the landmark year on a high note, crossing the Rs. 1 billion milestone in Profit Before Tax (PBT).
Despite challenging economic conditions that prevailed throughout 2021, Amana Bank showcased resilient performance through a significant growth of 42 per cent in PBT to reach Rs. 1.08 billion compared to Rs. 761.4 million recorded a year ago. Profit After Tax for the same period reflected YoY growth of 78 per cent to close at Rs. 824.7 million in comparison to Rs. 463.7 million recorded in 2020, the bank said in a media release.
In his comments Bank Chairman Asgi Akbarally said “As we celebrate a decade of people friendly banking, I am truly humbled and honoured by the bank’s resilient performance in 2021. These achievements echo the bank’s unique business model, which is well aligned to the needs of the economy.”
Commenting on the bank’s 2021 performance CEO Mohamed Azmeer said: “Reflecting on our humble beginning in 2011, it is truly satisfying to note how the bank has relentlessly progressed over the last 10 years and emerged as one of the fastest growing institutions within the local banking industry, backed by the trust and confidence of our valued customers and shareholders.”
Having surpassed the Rs. 100 billion mark in Total Assets in 2020, the bank went on to further enhance its Total Assets to close the year at Rs. 121.91 billion.
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