Richard Pieris Finance reports Rs. 701.6 mn PBT for financial year 2025/26

Nalin Wijekoon

Richard Pieris Finance Limited has reported a strong financial performance for the year ended 31 March 2026, recording a Profit Before Taxes of Rs. 701.6 million, reflecting continued business growth, operational resilience, and strengthened market confidence. The results demonstrate the Company’s ability to deliver sustainable growth while maintaining financial discipline in an increasingly competitive operating environment.

The Company recorded a Profit After Tax of Rs. 448.7 million for the financial year, compared to Rs. 254.7 million in the previous year. The strong performance was supported by growth across its core business segments, improved operational efficiencies, disciplined portfolio management, and a continued focus on customer-centric financial solutions.

Total assets increased to Rs. 24.57 billion from Rs. 20.24 billion a year earlier, while customer deposits grew to Rs. 11.68 billion, reflecting the continued confidence placed in the Company by depositors and investors. Shareholders’ funds strengthened to Rs. 4.43 billion, further reinforcing the Company’s capital base and long-term financial resilience. These results underscore the stability of Richard Pieris Finance’s operating model and its ability to achieve growth while maintaining prudent risk management and strong governance standards.

The Company’s lending portfolio continued to expand across key segments, with loans and advances increasing to Rs. 10.84 billion and lease receivables growing to Rs. 7.41 billion. Supported by a diversified portfolio that includes vehicle leasing, gold loans, Islamic finance, consumer lending, and the recently introduced Sarumaga mortgage solution, Richard Pieris Finance continues to strengthen its position as a trusted provider of financial services to customers across Sri Lanka.

Commenting on the financial performance, Chairman Nalin Wijekoon stated, “These results reflect the resilience of our business model, the confidence placed in us by our customers, and the commitment of our team. Despite operating in a challenging environment, we have remained focused on sustainable growth, prudent governance, and creating long-term value for all stakeholders. Our continued progress is a testament to the trust that customers, investors, and business partners place in Richard Pieris Finance.”

CEO Lohika Fonseka added, “Our performance during FY 2025/26 reflects the steady momentum we have built across the business. We continue to strengthen our core operations, expand our product offering, enhance customer accessibility, and invest in the systems and capabilities required to support the next phase of growth. Our focus remains on delivering responsible financial solutions while maintaining strong standards of service, governance, and risk management. As we continue to grow, we remain committed to building a stronger, more agile institution capable of meeting the evolving financial needs of customers across the country.”

The Company’s performance during the year was further supported by a strengthened governance framework led by an experienced Board of Directors comprising professionals with extensive expertise in banking, finance, risk management, audit, human resources, technology, and corporate strategy. This breadth of experience continues to provide strategic direction while ensuring sound oversight and long-term sustainability.

Net Operating Income increased to Rs. 1.74 billion during the year, reflecting growth in business volumes and improved operational performance. The Company also continued to maintain a balanced approach to growth, supported by prudent risk management practices and a disciplined focus on portfolio quality.

As part of its ongoing growth strategy, Richard Pieris Finance continued to invest in digital innovation, operational excellence, and customer accessibility. During the year, the Company launched its Loan Origination System (LOS) Mobile App to streamline internal loan processing and improve operational efficiency, while also introducing its Device Finance solution to provide customers with convenient access to Samsung smartphones through simplified financing and flexible repayment options. These initiatives, together with ongoing enhancements to the Company’s cybersecurity framework aligned with globally recognised standards, reflect Richard Pieris Finance’s commitment to delivering greater convenience, efficiency, and trust through technology.

Supported by its Fitch Rating of ‘A(lka)’ with a Stable Outlook, Richard Pieris Finance remains well-positioned for future growth.