Best Islamic bank 2025: Amana Bank
Amana Bank, a leading financial institution in Sri Lanka, has solidified its position as the country’s best Islamic bank through a series of robust growth metrics and innovative product introductions, aligning with Islamic principles.
In the financial year ending September 2024, Amana Bank saw total assets reach LKR172.52 billion ($575 million), with profits before tax increasing by 18% year-over-year to LKR1.98 billion. This was complemented by a 26% growth in profit after tax.
Customer advances also recorded a 16% growth to over LKR100 billion, maintaining an exceptionally low IFRS 9 Stage 3 impairment ratio of 1.4%. Additionally, customer deposit growth of 10% emphasises the bank’s strong customer retention and confidence, mirrored by a robust CASA ratio of 42.3%.
Innovation remains a foundational element of Amana Bank’s operational strategy. In 2024, the introduction of products such as Health Card and Medical Finance, approved under strict Shariah guidelines, accentuated its commitment to aligning banking services with customer health imperatives. This fusion of finance and customer wellbeing is supplemented by the bank’s digital platforms, like Your-Bank mobile banking and WhatsApp banking, which enrich customer interaction and accessibility.
CSR initiatives by Amana Bank underscore its commitment to social responsibility with impactful projects such as OrphanCare, which aids orphans across Sri Lanka. This initiative, alongside contributions to renewable energy and women-centric banking services, underlines Amana Bank’s dedication towards a socially responsible and inclusive banking model.
The provision of internal and external Shariah training sessions demonstrates the bank’s ongoing commitment to education and adherence to Islamic banking principles.
Amana Bank’s blend of strong financial performance, innovative Shariah-compliant products, impactful CSR activities and digital enhancements rightly position it as Sri Lanka’s best Islamic bank.
