Vallibel Finance records yet another impressive year

Thursday, 20 August 2015 00:00 - - {{hitsCtrl.values.hits}}

Profits up by 28% to Rs. 623 m

Untitled-4

Vallibel Finance affirmed its continuing ascendency, announcing yet another impressive performance in 2014-15. Pre-tax profits soared by 28% to exceed Rs. 623 million over the previous 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% from the previous year’s figure of Rs. Rs. 303 million. The company capped an outstanding year with all key indicators showing an impressive performance.

Increasingly popular as the name-bearer of the iconic Vallibel Group, public confidence in the company continues to grow as numbers for fixed deposits showing a sharp rise, year after year. The Fixed Deposits portfolio grew by 31% to cross the Rs. 12 billion threshold from the previous year’s Rs. 9 billion.

Recording the highest gains was the company’s asset base which recorded a 34% rise to reach Rs. 16.8 billion. The previous figure stood at Rs.12.5 billion.

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.

Managing Director Jayantha Rangamuwa avers that in a volatile industry subject to many unforeseen influences continuous good performance comes 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.

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%. Total lendings stood at Rs.12.5 billion rising from a previous Rs.9 billion.

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 diversified Vallibel conglomerate led by 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.