Sarvodaya Development delivers positive results in 1H 2024/25
View(s):Sarovodaya Development Finance PLC (SDF) has achieved a new milestone as an ethical provider of financial services by becoming a full member of the prestigious Global Alliance for Banking on Values (GABV). This development is a significant step in SDF’s ongoing mission to promote financial inclusion and sustainable development across Sri Lanka. As the financial services arm of the Sarvodaya Shramadana Movement, and Sri Lanka’s oldest development finance institution, SDF has always championed a values-driven approach, prioritising community empowerment and equitable growth, the company said in a media release.
Meanwhile, SDF’s financial performance in the 1st Half of 2024/25 saw the company recording a net profit of Rs.215.7 million during the six months ended September 30, 2024; a significant increase from Rs.78.9 million in the corresponding period of the previous year. Gross income rose 21.8 per cent coupled with a 7.8 per cent reduction in interest expenses, resulting in a 57.2 per cent improvement in interest income, as total assets grew by 22.5 per cent or Rs.3.3 billion, supported by an increase in deposits and borrowings.
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