Vallibel Finance profits up 28%
View(s):Vallibel Finance said this week that net profit in 2014-15 has risen by 28 per cent to reach Rs. 623 million against last year’s Rs. 489 million. “The company’s consistent rise in the financial sphere was further secured with net profits reaching Rs. 374 million, recording an increase of 23 per cent from the previous year’s figure of Rs. 303 million,” the company said in a media statement.
Vallibel said public confidence in the company continues to grow as numbers for fixed deposits show a sharp rise, year after year. The Fixed Deposits portfolio grew by 31 per cent to cross the Rs. 12 billion threshold from the previous year’s Rs. 9 billion.
The company’s asset base rose by 34 per cent to reach Rs. 16.8 billion.
Jayantha Rangamuwa, company Managing Director said that in a volatile industry subject to many unforeseen influences continuous good performances come on the back of fundamental values. “As we keep reiterating, macro-economic landscape will always witness challenging times but the company’s proven formula of building values ensures a resilient performance, year after year,” he said.
The year under review saw more branches joining its expanding network which serves as a catalyst of development for people from diverse backgrounds. The lending portfolio increased by 26 per cent while total lending stood at Rs.12.5 billion, up from Rs. 9 billion earlier.