Growth momentum continues at Vallibel Finance

Tuesday, 9 December 2014 00:49 - - {{hitsCtrl.values.hits}}

Assets rise over 26%

Vallibel Finance returned an impressive all-round performance on the back of a strong first half. The company announced an interest income of Rs. 1,393 million for the six months ending September 2014, an increase of 20% from the same period in the preceding year. The name-bearer of the iconic Vallibel Group continues to enjoy public confidence with its fixed deposits swelling by 35% to a landmark Rs. 10.2 billion. The deposit base stood at Rs. 7.6 billion during the same period in 2013. The climb amplifies the company’s ability to sustain a healthy deposit portfolio even during challenging times. Total assets saw a steady ascend, rising 26% to cross above the Rs. 13.7 billion mark.

The PBT during the period under review was Rs. 241 million while the PAT rose 8% from Rs. 135 million to a healthy Rs. 147 million. “We strongly believe in building on exemplary values that build trust. The results are, yet again, an overwhelming vote of confidence for the company and will spur us on as we evolve in size and capacity. We are driving on the cutting-edge but what makes our performance all the more noteworthy is how we focus more on building a quality portfolio through personalised efforts,”says Vallibel Finance PLC Managing Director Jayantha Rangamuwa. Vallibel Finance was ranked amongst the top 50 most respected entities in the country by LMD in its 2014 survey and its significant rise in brand equity was recognised in LMD’s top 100 Most Valuable Brand Survey 2014 where Vallibel Finance’s rank rose to 67th, standing alongside some of the greats of the banking and finance sectors. Rangamuwa reiterates that continuous good performance in a competitive and volatile industry mute testimony to the core strengths on which a business is built. “The macro-economic landscape saw challenging times yet again but the company’s resilient performance reinforces its growing stature in the public domain. We have systems and processes built on accountability and our customer interface is driven on offering financial solutions that understand people’s aspirations and ability,” he says. The company continues to expand geographically and has seen new service centres operating with state-of-the-art technology in Kalutara and Anuradhapura with openings slated for Kegalle, Narahenpita, Kaduruwela and Wattala with the aim of improving the access of the public to its unique financial service portfolio. Vallibel Finance deals chiefly in Hire Purchase, Leasing, Pawning (Gold Loan), Fixed Deposits, Group Personal Loans, Mortgage Loans, Education Loans and Microfinance products deployed via a cutting-edge technological framework. The increasing stature of Vallibel Finance, on the back of its impressive performances, is further augmented by the highly powerful Vallibel conglomerate led by visionary corporate leader Dhammika Perera. Vallibel Finance’s standing in the business landscape is also affirmed by the upgrading of its rating to BBB- by Lanka Rating Agency.