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Tuesday, 26 November 2013 00:01 - - {{hitsCtrl.values.hits}}
The name-bearer of the iconic Vallibel Group continues to enjoy public confidence with its fixed deposits swelling by 21% to an impressive Rs. 7.6 b. The deposit base stood at Rs. 6.3 b during the same period in 2012.
The climb amplifies the company’s ability to sustain a healthy deposit portfolio even during challenging times. Total assets saw a steady ascend, rising 17% to cross the Rs. 10 b mark.
The PBT during the period under review was Rs. 215.7 m while the PAT rose 6% from Rs. 128.6 m to a healthy Rs. 135.8 m.
Overwhelming vote of confidence
“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 inspire us to greater heights. 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,” said Jayantha Rangamuwa, Managing Director of Vallibel Finance PLC.
Vallibel Finance was ranked amongst the most respected entities in the country by LMD in its 2011 survey and its significant rise in brand equity was recognised in LMD’s Most Valuable Brand Survey 2012 where Vallibel Finance’s rank rose to 58th in the survey, standing alongside some of the greats of the banking and finance sectors.
Core strengths
Rangamuwa avers that sustained good performance in a competitive and volatile industry was 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 said.
That the company clocked such a noteworthy performance while maintaining an NPL of 3.82% add further significance to the herculean challenge overcome successfully, he added.
The company continues to expand geographically and has seen new service centres operating with state-of-the-art technology in Moratuwa and Malabe with openings slated for Nugegoda, Panadura, Dambulla and Kegalle with the aim of improving the access of the public to its unique financial service portfolio.
Vallibel Finance deals chiefly in fixed deposits, hire purchase, leasing, pawning (gold loan) and microfinance products deployed via a cutting-edge technological framework.
Impressive performance
The young company is mentored by some of the business world’s most respected personalities led by corporate stalwart Dhammika Perera, whose Vallibel Group features among LMD’s top 20 companies in Sri Lanka. He is linked to ownerships in at least three award-winning companies, Sampath Bank, Hayleys and Vallibel One.
His interests extend to other reputed names of the likes of PABC Bank, LB Finance, Vallibel Power and Fortress Resorts. “For a young company cutting its teeth in an immensely challenging market, Vallibel Finance has impressed us all. The company is now beginning to sit side-by-side with some of the more illustrious companies in the group,” said Perera.
