LankaClear revenues up 10%
View(s):LankaClear said this week that the company’s net revenue for the financial year ending 31st March 2013 grew by 10 per cent whilst post-tax profit grew by 50 per cent to Rs 189 million compared to the previous financial year. The company recorded revenues of Rs. 428 million.
The company reported that the volume of cheques cleared through the Cheque Imaging and Truncation System (CITS) remained the same compared to the previous financial year. The total value of cheques cleared increased by four per cent to Rs. 6,603 billion in 2012/13.
Items cleared through the Sri Lanka Interbank Payment System (SLIPS) increased by a significant 15.4 per cent compared to the previous year whilst the value of SLIPS items cleared grew by 29 per cent compared to the previous year. The total value of items cleared through SLIPS during the financial year 2012/13 stood at Rs. 585 billion.
Addressing the shareholders at the AGM, the Chairperson of LankaClear, Ms. Priyantha Liyanage said that one of the accomplishments during the past year was the maintenance of the existing national clearing and payment systems without any interruptions, deficiencies or shortcomings whatsoever.
She stated that the launch of the LankaPay Common ATM Switch (CAS), which was the first phase of the Common Card And Payment Switch (CCAPS) approved by the Monetary Board of the Central Bank of Sri Lanka as the national payment switch, was a significant milestone in the payment industry of Sri Lanka and LankaClear has now started the implementation of the 2nd Phase of the CCAPS project which is the Real Time Electronic Fund Transfer (EFT) Switch and the Mobile Payment Switch. This switch will bring immense benefits to the bank customers in Sri Lanka by way of increased efficiency, availability, security and cost effectiveness, she said.
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