Richard Pieris Arpico Finance achieves deposit base milestone in one year

Wednesday, 20 August 2014 01:01 - - {{hitsCtrl.values.hits}}

Richard Pieris Arpico Finance has reached the milestone of Rs. 1 billion in deposits. The Company said this outstanding achievement has clearly shown the unwavering confidence that the clients have on the company, where the mother company Richard Pieris has been in existence for over 80 years.

“The commitment of our staff members contributed immensely to achieve these goals,” said Richard Pieris Arpico Finance CEO M.M. Jabir, who added that the other factor is the trust that people have kept with the Richard Pieris Group and the new finance company. “Our performance was tremendous. People had great confidence in our commitment and also trust in the company, whose mother company Richard Pieris has been operating superbly for 83 long years. All this contributed to reach our goals within a short span of one year,” said CEO Jabir. Commenting on the branches, he said, “Opening plans are made by Richard Pieris Arpico Finance for this year.” Jabir said that this year is very challenging, especially as the Central Bank expects the finance companies to be stable, bigger and stronger, with a wider presentation all over the country.Richard Pieris Arpico Finance Company is planning at least five branches within the next four to five months. The first one will be in Matara, said Jabir. On the Consolidation Process of finance company mergers, Jabir said that very soon they would be coming out with a very positive announcement. The deadline for mergers to be completed is at the end of the year. He further added that the process is excellent as it is very good for the country, economy, financial sector and the investors and customers at large. “Customers have doubts about certain stand alone companies, but now the government wants such companies to have a back-up of strong groups, banks, etc.,” he said.