Financial News

Vallibel Finance FDs swell by 31% to cross Rs. 12 bn threshold

20 Aug 2015 - {{hitsCtrl.values.hits}}

Vallibel Finance affirmed its continuing ascendancy, announcing yet another impressive performance in 2014-15.

Pre-tax profits soared by 28 percent 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 percent from the previous year’s figure of Rs. Rs. 303 million.

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 percent 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 percent 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 recognized 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.

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 percent. Total lending stood at Rs.12.5 billion rising from a previous Rs.9 billion. Vallibel Finance deals mainly 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.

Financial News

Vallibel Finance FDs swell by 31% to cross Rs. 12 bn threshold

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