Amana Bank, Sri Lanka’s first and only licensed commercial bank operating entirely under the non-interest-based banking model, marks 15 years of operations today.
Since opening its doors in 2011, the bank has made remarkable progress while successfully navigating some of the most challenging periods in the nation’s recent history, driven by the growing trust, acceptance and support of its customers.
Today, the bank serves over 500,000 customers through a growing network of more than 80 customer locations comprising branches and Self Banking Centres across the country. This remarkable growth reflects the bank’s commitment towards enabling growth and enriching the lives of its customers through the bank’s development-focused, people-friendly approach to banking.
Building on this strong foundation, Amãna Bank has continued to deliver a robust financial performance and sustainable growth, reinforcing its position as a key player in Sri Lanka’s banking sector.
The bank recently surpassed Rs.200 billion in total assets, becoming one of the fastest banks in the country to achieve this milestone. It has also consistently outpaced industry growth in both deposits and financing, while maintaining the strongest CASA ratio and being one of the lowest non-performing advances ratios in the sector.
These achievements reflect the bank’s ability to pursue sustainable growth without compromising portfolio quality, supported by a robust risk management framework, sound governance and a customer-centric culture.
The bank has also maintained a consistent track record of profitability while declaring successive dividends over the last eight years.
As a retail and SME-focused bank, Amãna Bank has played a pivotal role in supporting entrepreneurs, businesses and households. Through its unique asset-backed banking model, Amãna Bank channels financing directly towards the real sector of the economy, supporting productive economic activity, strengthening businesses and industries, creating employment, improving livelihoods and contributing meaningfully to Sri Lanka’s sustainable economic development.
A key milestone in the bank’s journey has been the continued confidence placed in it by the Islamic Development Bank (IsDB) group, which remains Amãna Bank’s main strategic shareholder through its private sector arm, Islamic Corporation of the Development of the Private Sector (ICD).
Despite Sri Lanka not being a member state of the IsDB group, its investment in Amãna Bank stands as a globally recognised success story, demonstrating how ethical, value-based banking can thrive in a diversified market while contributing meaningfully to national development.
Amãna Bank has received numerous local and international accolades in recognition of its progress – from being named the Best Up and Coming Islamic Bank in the World by Global Finance Magazine USA during its formative years, to more recently being ranked amongst the World’s Top 50 Strongest Islamic Banks by The Asian Banker and honoured as the Most Impactful ICD Investee Company by the Islamic Development Bank Group amongst 30+ global investee companies.
