AMÃNA BANK PLC (PB 3618 PQ)
FINANCIAL STATEMENTS
30 SEPTEMBER 2014
AMÃNA BANK PLC (PB 3618 PQ)
INCOME STATEMENT
FOR THE PERIOD ENDED 30 SEPTEMBER 2014
RUPEES IN THOUSANDS
FOR THE QUARTER ENDED
30 SEPTEMBER
2014
Financing Income
Financing Expenses
Net Financing Income
RUPEES IN THOUSANDS
FOR THE NINE MONTHS
ENDED 30 SEPTEMBER
Change
%
2013
2014
Change
%
2013
609,952
(297,704)
312,248
466,994
(271,406)
195,588
30.6
-9.7
59.6
Net Fee and Commission Income
37,177
27,264
36.4
98,840
74,295
33.0
Net Gain/(Loss) from Trading
Net Gain/(Loss) from Financial Instruments Designated at Fair Value
Through Profit or Loss
Net Gain/(Loss) from Financial Investments
Net Other Operating Income
Total Operating Income
62,784
56,827
10.5
194,681
209,828
-7.2
7,420
419,629
6
279,686
0.0
0.0
114,779.1
50.0
21,513
1,215,319
35
770,024
0.0
0.0
61,748.4
57.8
Impairment for Financing and Receivables to Other Customers
and Other Losses
Individual Impairment
Collective Impairment
Others
Net Operating Income
(18,364)
(14,605)
386,659
(5,831)
(19,799)
254,057
-215.0
26.2
0.0
52.2
(43,844)
(66,898)
1,104,577
(5,720)
(26,600)
737,704
-666.5
-151.5
0.0
49.7
Personnel Expenses
Depreciation of Property, Plant and Equipment
Amortisation of Intangible Assets
Other Operating Expenses
Total Operating Expenses
205,823
40,069
10,035
138,577
394,504
192,524
44,020
8,633
135,985
381,161
-6.9
9.0
-16.2
-1.9
-3.5
665,868
122,233
29,297
407,259
1,224,656
Operating Profit/(Loss) Before Value Added Tax
Value Added Tax on Financial Services
Profit/(Loss) Before Tax
Tax (Expenses)/Reversal
Profit/(Loss) for the Period
(7,844)
(25,996)
(33,841)
(33,841)
(127,104)
(127,104)
83,681
(43,423)
93.8
0.0
73.4
-100.0
22.1
(0.03)
(0.05)
Earnings/(Loss) Per Share - Basic / Diluted
-1-
42.4
1,797,604
(897,319)
900,284
1,256,757
(770,891)
485,866
541,859
116,718
25,066
345,793
1,029,435
(120,080)
(48,712)
(168,792)
(168,792)
(291,731)
(7,129)
(298,860)
83,681
(215,179)
(0.13)
(0.23)
43.0
-16.4
85.3
-22.9
-4.7
-16.9
-17.8
-19.0
58.8
-583.3
43.5
-100.0
21.6
42.0
AMÃNA BANK PLC (PB 3618 PQ)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 SEPTEMBER 2014
RUPEES IN THOUSANDS
FOR THE QUARTER ENDED
30 SEPTEMBER
2014
Profit/(Loss) for the Period
2013
RUPEES IN THOUSANDS
FOR THE NINE MONTHS
ENDED 30 SEPTEMBER
Change
%
2014
2013
Change
%
(33,841)
(43,423)
22.1
(168,792)
(215,179)
21.6
Other Comprehensive Income/(Loss)
Net Gain/(Loss) on Financial Investments - Available for Sale
Re-Measurement Gain /(Loss) on Defined Benefit Plans
Total Other Comprehensive Income/(Loss)
37,338
37,338
(13,598)
(13,598)
374.6
0.0
374.6
83,403
83,403
(84,178)
(84,178)
199.1
0.0
199.1
Deferred Tax Effect on Defined Benefit Plans
Other Comprehensive Income/(Loss) for the Period Net of Tax
37,338
(13,598)
0.0
374.6
83,403
(84,178)
0.0
199.1
Total Comprehensive Income/(Loss) for the Period Net of Tax
3,497
(57,022)
106.1
(85,388)
(299,357)
71.5
-2-
AMÃNA BANK PLC (PB 3618 PQ)
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2014
RUPEES IN THOUSANDS
AS AT 30.09.2014
AS AT 31.12.2013
(AUDITED)
Change
%
Assets
Cash and Cash Equivalents
Balances with Central Bank of Sri Lanka
Derivative Financial Assets
Placements with Banks
Placements with Licensed Finance Companies
Financial Investments - Held for Trading
Financial Assets Designated at Fair Value through Profit or Loss
Financing and Receivables to Banks
Financing and Receivables to Other Customers
Financial Investments - Available for Sale
Financial Investments - Held to Maturity
Other Financial Assets
Other Non Financial Assets
Property, Plant and Equipment
Intangible Assets
Deferred Tax Assets
Total Assets
1,656,773
1,660,705
36,337
4,201,151
2,018,930
102,765
19,668,421
487,066
356,124
332,185
805,106
280,309
159,355
31,765,228
2,444,552
685,320
21,471
1,737,896
661,958
175,335
15,015,318
600,338
519,546
240,778
852,961
283,028
159,355
23,397,856
-32.2
142.3
69.2
141.7
205.0
-41.4
0.0
0.0
31.0
-18.9
0.0
-31.5
38.0
-5.6
-1.0
0.0
35.8
Liabilities
Due to Banks
Derivative Financial Liabilities
Other Financial Liabilities - Held for Trading
Financial Liabilities Designated at Fair Value through Profit or Loss
Due to Other Customers
Other Financing
Securities issued
Other Financial Liabilities
Other Non Financial Liabilities
Subordinated Term Financing
Retirement Benefit Liability
Total Liabilities
13,409
26,301,796
361,203
62,110
50,064
26,788,583
3,131
17,983,112
290,820
13,689
45,071
18,335,823
0.0
328.3
0.0
0.0
46.3
0.0
0.0
24.2
353.7
0.0
11.1
46.1
Shareholders' Funds
Stated Capital
Statutory Reserve Fund
Other Reserves
Retained Earnings
Total Equity
5,866,808
7,300
(198,687)
(698,777)
4,976,644
Total Liabilities and Shareholders' Funds
5,866,808
7,300
(282,090)
(529,985)
5,062,033
31,765,228
Net Asset Value per Ordinary Share
23,397,856
3.98
Memorandum Information
Number of Employees
Number of Branches
35.8
4.99
0
16,096,037
Commitments and Contingencies
0.0
0.0
29.6
-31.8
-1.7
(1)
7,641,018
601
24
558
24
CERTIFICATION:
I certify that these Financial Statements comply with the requirements of the Companies Act No.07 of 2007.
(Sgd.) M. Ali Wahid
Chief Financial Officer
5 November 2014
We, the undersigned, being the Chief Executive Officer, Deputy Chairman and Director of Amana Bank certify jointly that:(a) the above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of Sri Lanka and Rule 7.4 of
Colombo Stock Exchange.
(b) the information contained in these statements have been extracted from the unaudited Financial Statements of the Bank unless indicated as audited.
(Sgd.) Mohamed Azmeer
Chief Executive Officer
5 November 2014
(Sgd.) Tyeab Akbarally
Deputy Chairman
5 November 2014
-3-
(Sgd.) Jazri Magdon Ismail
Director
5 November 2014
AMÃNA BANK PLC (PB 3618 PQ)
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2014
RUPEES IN THOUSANDS
Stated Capital
Stated
Capital
As at 1 January 2013 (Audited)
Profit/(Loss) for the Nine Months Ended 30.09.2013
Total Comprehensive Income for the Nine Months Ended 30.09.2013
Rights Issue - Pending Allotment
Rights Issue - Allotment
Share Issue Expenses
As at 30 September 2013
Profit/(Loss) for the Three Months Ended 31.12.2013
Total Comprehensive Income for the Three Months Ended 31.12.2013
IPO Share Issue - Pending Allotment
Share Issue Expenses
Transfers to Investment Fund
As at 31 December 2013 (Audited)
IPO Share Issue - Allotment
Profit/(Loss) for the Nine Months Ended 30.09.2014
Total Comprehensive Income for the Nine Months Ended 30.09.2014
Transfers to Investment Fund
As at 30 September 2014
3,431,612
785,210
4,216,821
4,216,821
1,649,987
5,866,808
Other Reserves
Capital Funds
Raised Pending
Allotment of
Shares
55,518
(55,518)
1,649,987
1,649,987
(1,649,987)
-
-4-
Statutory
Reserve
Fund
7,300
7,300
7,300
7,300
Investment
Fund
28,461
28,461
10,956
39,417
39,417
Revenue
Reserve
(161,472)
(3,927)
(165,399)
(51,527)
(216,926)
(216,926)
Available for Sale
Reserve
(37,544)
(84,178)
(121,722)
17,141
(104,580)
83,403
(21,177)
Retained
Earnings
(197,142)
(215,179)
(412,321)
(101,854)
(4,854)
(10,956)
(529,985)
(168,792)
(698,777)
Total
3,071,215
(215,179)
(84,178)
55,518
729,692
(3,927)
3,553,140
(101,854)
12,288
1,649,987
(51,527)
5,062,033
(168,792)
83,403
4,976,644
AMÃNA BANK PLC (PB 3618 PQ)
STATEMENT OF CASHFLOW
FOR THE PERIOD ENDED 30 SEPTEMBER 2014
RUPEES IN THOUSANDS
FOR THE
YEAR ENDED
PERIOD ENDED
31.12.2013
30.09.2014
(AUDITED)
Cash Flow from Operating Activities
Financing Income Received
Fees and Commission Received
Financing Expenses Paid
Foreign Exchange Income Received
Gratuity Payments
Payments to Employees and Suppliers
Operating Profit/(Loss) before Changes in Operating Assets and Liabilities
1,733,647
136,650
(916,645)
174,893
(11,485)
(1,095,716)
21,344
1,711,325
126,226
(1,002,545)
243,379
(891)
(1,191,351)
(113,857)
Increase / (Decrease) in Due to Other Customers
(Increase) / Decrease in Financing and Receivables to Other Customers
(Increase) / Decrease in Other Financial Assets
(Increase) / Decrease in Other Non Financial Assets
(Increase) / Decrease in Statutory Deposit
Increase / (Decrease) in Other Liabilities
8,338,009
(4,736,118)
168,186
(91,407)
(975,384)
128,817
4,633,147
(7,907,275)
97,876
(10,406)
179,974
(15,419)
Net Cash Flow from Operating Activities before Income Tax
Income Tax Paid
2,853,446
(3,135,960)
Net Cash Flow from Operating Activities
2,853,446
-
(3,135,960)
Cash Flows From/(Used In) Investing Activities
Acquisition of Property, Plant and Equipment
Proceeds from Sale of Property, Plant and Equipment
Acquisition of Intangible Assets
Withdrawal/ (Investments) in Placements with Licensed Finance Companies
Withdrawal/ (Investments) in Inter Bank Placements
Sale / (Acquisition) of Financial Investments - Available for Sale
Sale / (Acquisition) of Financial Assets Held for Trading
(75,754)
4,285
(26,578)
(1,350,557)
(2,461,866)
196,675
72,569
(337,538)
(95,641)
999,827
(907,770)
(175,374)
(149,526)
Net Cash Flows Used in Investing Activities
(3,641,226)
(666,022)
Cash Flows From/(Used In) Financing Activities
Proceeds from Rights Issue of Shares
-
785,210
Proceeds from IPO Share Issues
-
1,649,987
Share Issue Expenses
-
Net Cash Flows From Financing Activities
-
Net Increase / (Decrease) in Cash and Cash Equivalents
(787,780)
Cash and Cash Equivalents at the Beginning of the Year
Cash and Cash Equivalents at the End of the Period
2,444,552
1,656,773
-5-
(55,454)
2,379,742
(1,422,240)
3,866,793
2,444,552
AMÃNA BANK PLC (PB 3618 PQ)
NOTES TO THE FINANCIAL STATEMENTS
01. ANALYSIS OF FINANCIAL INSTRUMENTS BY MEASUREMENT BASIS
FINANCIAL ASSETS
Cash and Cash Equivalent
Balances with Central Bank of Sri Lanka
Derivative Financial Assets
Placements with Banks
Placements with Licensed Finance Companies
Financial Investments - Held for Trading
Financing and Receivables to Other Customers
Financial Investments - Available for Sale
Other Financial Assets
Total Financial Assets
Financial Liabilities
Derivative Financial Liabilities
Due to Other Customers
Other Financial Liabilities
Total Financial Liabilities
FINANCIAL ASSETS
Cash and Cash Equivalent
Balances with Central Bank of Sri Lanka
Derivative Financial Assets
Placements with Banks
Placements with Licensed Finance Companies
Financial Investments - Held for Trading
Financing and Receivables to Other Customers
Financial Investments - Available for Sale
Other Financial Assets
Total Financial Assets
Financial Liabilities
Derivative Financial Liabilities
Due to Other Customers
Other Financial Liabilities
Total Financial Liabilities
HELD FOR
TRADING
AMORTIZED
COST
HELD TO
MATURITY
36,337
102,765
139,103
1,656,773
1,660,705
4,201,151
2,018,930
19,668,421
356,124
29,562,104
-
13,409
13,409
26,301,796
361,203
26,662,998
-
HELD FOR
TRADING
AMORTIZED
COST
HELD TO
MATURITY
21,471
175,335
196,805
2,444,552
685,320
1,737,896
661,958
15,015,318
519,546
21,064,591
-
3,131
3,131
17,983,112
290,820
18,273,931
-
02. FINANCING AND RECEIVABLES TO OTHER CUSTOMERS
RUPEES IN THOUSANDS
TOTAL
AVAILABLE
AS AT 30.09.2014
FOR SALE
487,066
487,066
-
-
19,902,145
(55,778)
(177,946)
19,668,421
03. FINANCING AND RECEIVABLES TO OTHER CUSTOMERS - BY PRODUCT
By Product - Domestic Currency
Overdrawn Current Accounts
Trade Finance
Lease Receivables
Staff Facilities
Term Financing
Pawning
Others
Sub Total
By Product - Foreign Currency
Term Financing
Trade Finance
Others
Sub Total
Total
-6-
13,409
26,301,796
361,203
26,676,408
RUPEES IN THOUSANDS
Total
AVAILABLE
As at 31.12.2013
FOR SALE
(Audited)
2,444,552
685,320
21,471
1,737,896
661,958
175,335
15,015,318
600,338
600,338
519,546
600,338
21,861,735
30.09.2014
Rs. '000
Gross Financing and Receivables to Other Customers
Less: Individual Impairment
Less: Collective Impairment
Net Financing and Receivables
1,656,773
1,660,705
36,337
4,201,151
2,018,930
102,765
19,668,421
487,066
356,124
30,188,272
30.09.2014
Rs. '000
3,131
17,983,112
290,820
18,277,062
31.12.2013
Rs. '000
(AUDITED)
15,139,029
(12,664)
(111,047)
15,015,318
6,334
1,861,132
1,737,009
191,471
11,202,249
22,332
3,360,148
18,380,675
31.12.2013
Rs. '000
(AUDITED)
16,544
1,308,647
1,282,418
138,078
7,908,470
3,647,210
14,301,366
1,129,783
6,743
384,943
1,521,469
19,902,145
837,663
837,663
15,139,029
AMÃNA BANK PLC (PB 3618 PQ)
NOTES TO THE FINANCIAL STATEMENTS
04.
MOVEMENTS IN INDIVIDUAL AND COLLECTIVE IMPAIRMENT DURING THE PERIOD FOR FINANCING AND RECEIVABLES
TO OTHER CUSTOMERS
Individual
Impairment
Rs. '000
327
10,852
1,484
12,664
43,844
(729)
55,778
As at 1 January 2013
Charge/(Write Back) for the Year
Recoveries
Amounts Written Off
Profit Accrued on Impaired Financing and Receivables
As At 31 December 2013 (Audited)
Charge/(Write Back) for the Year
Recoveries
Amounts Written Off
Profit Accrued on Impaired Financing and Receivables
As At 30 September 2014
05. DUE TO OTHER CUSTOMERS - BY PRODUCT
Collective
Impairment
Rs. '000
42,829
68,218
111,047
66,898
177,946
30.09.2014
Rs. '000
Total
Impairment
Rs. '000
43,157
79,071
1,484
123,711
110,742
(729)
233,724
By Product - Domestic Currency
Demand Deposits
Savings Deposits
Time Deposits
Sub Total
2,129,710
12,011,229
10,933,913
25,074,852
31.12.2013
Rs. '000
(AUDITED)
1,510,337
7,897,275
7,825,152
17,232,765
By Product - Foreign Currency
Demand Deposits
Savings Deposits
Time Deposits
Sub Total
Total
102,523
701,645
422,775
1,226,944
26,301,796
71,470
322,690
356,187
750,347
17,983,112
06. SELECTED PERFORMANCE INDICATORS
AS AT
30.09.2014
AS AT 31.12.2013
(AUDITED)
Regulatory Capital Adequacy
Core Capital (Tier 1 Capital), Rs. Mn.
Total Capital Base, Rs. Mn.
Core Capital Adequacy Ratio, as % of Risk Weighted Assets (Minimum Requirement, 5%)
Total Capital Adequacy Ratio, as % of Risk Weighted Assets (Minimum Requirement, 10%)
4,640
4,737
15.44%
15.77%
4,683
4,757
21.2%
21.5%
Assets Quality (Quality of Financing and Advance Portfolio)
Gross Non-Performing Financing and Advances Ratio, % (Net of Profit in Suspense)
Net Non-Performing Financing and Advances Ratio, % (Net of Profit in Suspense and Provisions)
2.31%
1.42%
1.84%
1.11%
Profitability
Financing Margin (%)
Return on Assets (before Tax)
Return on Equity
4.2%
(0.8%)
(4.5%)
3.6%
(2.2%)
(10.8%)
5,963
4,239
26.3%
22.4%
22.6%
22.8%
Regulatory Liquidity
Statutory Liquid Assets, Rs. Mn.
Statutory Liquid Assets Ratio, % (Minimum Requirement, 20%)
- Domestic Banking Unit
- Off-Shore Banking Unit
-7-
AMÃNA BANK PLC (PB 3618 PQ)
NOTES TO THE FINANCIAL STATEMENTS
7 SEGMENT INFORMATION
The following table presents income and profit and certain asset and liability information regarding the Bank’s operating segments.
RUPEES IN THOUSANDS
FOR THE PERIOD ENDED
30 SEPTEMBER 2014
Income
Financing Income
Net Fee and Commission Income
Net Trading Gain
Net Other Operating Income/(Expense)
Total
CONSUMER
BANKING
363,985
44,946
408,931
BUSINESS
BANKING
TOTAL
BANKING
1,242,323
54,724
1,297,047
Profit After Tax
Total Assets
Total Liabilities
TREASURY
UNALLOCATED /
ELIMINATION
1,606,308
99,670
1,705,978
189,243
194,681
18,870
402,795
2,053
(830)
2,643
3,865
283,440
290,330
(742,561)
TOTAL
1,797,604
98,840
194,681
21,513
2,112,638
(168,792)
4,141,540
15,526,880
19,668,421
10,349,265
1,747,542
31,765,228
24,320,286
1,981,509
26,301,796
7,234
479,554
26,788,583
RUPEES IN THOUSANDS
FOR THE YEAR ENDED
31 DECEMBER 2013
Income
Financing Income
Net Fee and Commission Income
Net Trading Gain
Net Other Operating Income/(Expense)
Total Income
CONSUMER
BANKING
248,958
35,440
284,399
BUSINESS
BANKING
TOTAL
BANKING
1,218,796
64,777
1,283,573
Profit/(Loss) After Tax
Total Assets
Total Liabilities
TREASURY
UNALLOCATED /
ELIMINATION
1,467,754
100,217
1,567,972
272,156
219,719
21,580
513,455
28,151
28,151
60,546
476,630
(854,210)
TOTAL
(AUDITED)
1,768,062
100,217
219,719
21,580
2,109,578
(317,035)
2,470,391
12,544,927
15,015,318
6,072,297
2,310,241
23,397,856
16,076,318
1,906,794
17,983,112
4,731,339
(4,378,628)
18,335,823
-8-
AMÃNA BANK PLC (PB 3618 PQ)
EXPLANATORY NOTES
1.
These Interim Financial Statements have been prepared in accordance with LKAS 34 - Interim Financial Reporting and present information required by Listing Rules of
Colombo Stock Exchange.
2.
The interim condensed Financial Statements do not include all the information and disclosure required in the annual Financial Statements, and should be read in conjunction
with annual Financial Statements as at 31 December 2013.
3.
The accounting policies adopted in the presentation of the interim condensed Financial Statements are consistent with those followed in the preparation of the Bank's annual
Financial Statements for the year ended 31 December 2013.
4. There are no material events that took place after the Statement of Financial Position date which require adjustment to or disclosures in the Financial Statements.
5. Comparative figures have been restated wherever necessary to conform to the current period's presentation.
6. There has not been a significant change in the nature of the contingent liabilities as disclosed in the Annual Report of 2013.
7. Market Price of Ordinary Shares (the Bank listed its ordinary shares on the Colombo Stock Exchange on 29 January 2014)
2014
Rs.
Market Price as at 30 September
Highest Market Price during the quarter ended 30 September
Lowest Market Price during the quarter ended 30 September
2013
Rs.
5.60
5.80
5.50
-
No. of Shares
180,562,011
180,562,010
120,374,674
120,374,673
90,281,006
73,973,459
43,056,201
37,384,600
33,756,280
30,000,000
27,084,302
14,722,200
14,284,200
11,920,000
9,398,344
6,534,733
6,142,800
5,666,667
5,352,742
5,300,000
1,016,730,902
233,964,365
1,250,695,267
%
14.44
14.44
9.62
9.62
7.22
5.91
3.44
2.99
2.70
2.40
2.17
1.18
1.14
0.95
0.75
0.52
0.49
0.45
0.43
0.42
81.29
18.71
100.00
8. Twenty Largest Shareholders as at 30 September 2014
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Name of Shareholder
Bank Islam Malaysia Berhad
AB Bank Limited
Akbar Brothers (Pvt) Ltd
Islamic Development Bank
Expolanka Holdings PLC
Amana Holdings Limited
Millenium Capital Investment Pte. Limited
Mr. Nagi Saleh Mohammed Al Faqih
Trans Asia Trading Company
Mr. Sathiyamurthy Chandramohan
Mr. Kevin Mark Pocock
Mr. Khaldoon Al Asmar
Mr. Ahamed Mihilar Mohamed Fazul Jiffry
ABC International Limited
Amana Takaful (Maldives) Pvt Ltd
Mrs. Nabila Qureshi
Pan Asia Banking Corporation PLC / Lanka Commodity Brokers Ltd
Mr. Muhammad Muslim Salahudeen
Mr. Abdul Majeed Mohamedu Risvi
Al Bogari Islamic Gold DMCC
Sub total
Other Shareholders
Total
Percentage of Public Holding as at 30 September 2014
Number of Shareholders
36.95%
6,782
9. Directors' Holding in Shares as at 30 September 2014
Name of Director
Mr. Osman Kassim
Mr. Tyeab Akbarally
Dato' A Tajudin B.H Abdul Rahman
Dr. A. A. M Haroon
Mr. Mohamed Jazri Magdon Ismail
Mr. Ruzly Hussain
Mr. Haseeb Ullah Siddiqui
Mr. Wahid Ali Mohd Khalil
Mr. Harsha Amarasekera PC
Mr. Mohammed Wahidul Haque
Dato’ Wan Ismail Wan Yusoh (Alternate Director to Mr. Wahid Ali Mohd Khalil)
Mr. Huzefa Inayetally Akbarally (Alternate Director to Mr. Tyeab Akbarally)
Mr. Mohamed Faizel Mohamed Haddad (Alternate Director to Mr. Osman Kassim)
Mr. Kevin Mark Pocock (Alternate Director to Mr. Harsha Amarasekera, PC)
Mr. Faheemul Huq (Alternate Director to Mr. Mohammed Wahidul Haque)
-9-
No. of Shares
233,354
26
8
13,500
1
27,084,302
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Newsletter (April 2014) - Institute of Cost and Management

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