Vallibel Finance pre-tax profits grow 38% to Rs. 807 mn

Vallibel Finance PLC returned its customary impressive half-year report card with exceptional growth in all key indicators, including Interest income exceeding Rs.2.9 billion and assets surpassing Rs.32.7 billion. 

Pre-tax profit climbed to Rs. 807 million with a 38.8 percent growth over Rs.581 million in the corresponding period of the previous financial year. 

Public confidence in the company continued to be in the ascendancy, as well, with deposits reaching Rs.19.7 Billion, a noteworthy growth of 18.5 percent over the previous figure of Rs. 16.7 billion.  The loan book reflected the deep-rooted commitment of Vallibel Finance to serve as a growth catalyst to Sri Lankans in far corners with total portfolio value reaching Rs. 26.9 billion.  This reflected a growth of 24 percent from the previous figure of Rs. 21.7 billion.

Interest income was bullish growing at 31.3 percent against 19.2 percent recorded the previous year. Interest income climbed to Rs.2.9 billion, whereas the earlier figure was Rs. 2.04 million.

Making a firm commitment to creating value through prudent financial stewardship, Vallibel Finance ensured that its total assets augmented its well-established processes governing its expanding product portfolio. Assets grew to Rs. 32.7 billion, growing by 27.8 percent over the corresponding period of the previous year, where the figure stood at Rs. 25.6 billion.

Vallibel Finance kept its eye on the non-performing loans column keeping it at a gross of 3.22 percent from a figure of 3.49 percent of the same corresponding period of previous year, further improving and consolidating the loan book.

“The regular report cards, year on year, speak volumes for the robust and well-rooted brand of financial stewardship we at Vallibel Finance have established.  Our successes have been built on public confidence which we continue to garner through one of the most far-sighted and people-friendly financial product portfolios”, says Jayantha Rangamuwa, Managing Director of Vallibel Finance.

LMD adjudged Vallibel Finance as the most respected finance company in its sector and the 22nd out of the top 100 most respected companies in Sri Lanka, further enhancing its Brand Reputation which is widely established as a leading brand in the country within relatively a short period of time.

‘We are impressed and delighted that Vallibel Finance has achieved  continued  success in both financial performance and also brand recognition since its inception and this is a result of  level of  operational efficiency achieved and  strategy adopted by company ’, says founding Chairman Dhammika Perera. 

Interest income was bullish growing at 31.3 percent against 19.2 percent recorded the previous year. Interest income climbed to Rs.2.9 billion, whereas the earlier figure was Rs. 2.04 million.

Making a firm commitment to creating value through prudent financial stewardship, Vallibel Finance ensured that its total assets augmented its well-established processes governing its expanding product portfolio. Assets grew to Rs. 32.7 billion, growing by 27.8 percent over the corresponding period of the previous year, where the figure stood at Rs. 25.6 billion.

Vallibel Finance kept its eye on the non-performing loans column keeping it at a gross of 3.22 percent from a figure of 3.49 percent of the same corresponding period of previous year, further improving and consolidating the loan book.

“The regular report cards, year on year, speak volumes for the robust and well-rooted brand of financial stewardship we at Vallibel Finance have established.  Our successes have been built on public confidence which we continue to garner through one of the most far-sighted and people-friendly financial product portfolios”, says Jayantha Rangamuwa, Managing Director of Vallibel Finance.

LMD adjudged Vallibel Finance as the most respected finance company in its sector and the 22nd out of the top 100 most respected companies in Sri Lanka, further enhancing its Brand Reputation which is widely established as a leading brand in the country within relatively a short period of time.

‘We are impressed and delighted that Vallibel Finance has achieved  continued  success in both financial performance and also brand recognition since its inception and this is a result of  level of  operational efficiency achieved and  strategy adopted by company ’, says founding Chairman Dhammika Perera.