Wednesday, 27 August 2014

Richard Pieris Arpico Finance deposit base tops Rs 1 billion

The deposit base of Richard Pieris Arpico Finance Company has reached Rs. one billion just one year since its inception. Richard Pieris Arpico Finance CEO M. M. Jabir said this achievement has shown the confidence that clients have placed on the company, since the mother company Richard Pieris has been in existence for over 80 years. “The commitment of our staff members contributed immensely to achieve these goals and the other factor is the trust people have kept with the Richard Pieris Group and the new finance company,”Jabir said. “Our performance was tremendous.

People had great confidence in our commitment and also trust in the company, whose mother company Richard Pieris has been operating superbly for 83 long years. All this contributed to reach our goals within a short span of one year,” the CEO said. Commenting on the branches, “Opening plans are made by Richard Pieris Arpico Finance for this year”.

Jabir said this year is very challenging, especially as the Central Bank expects finance companies to be stable, bigger and stronger, with a wider presentation all over the country.

Richard Pieris Arpico Finance plans to open five branches within the next four to five months. The first one will be in Matara. On the consolidation process of finance company mergers, Jabir said they will be coming out with a very positive announcement soon.

The deadline for mergers to be completed is at the end of the year. He further added that the process is excellent as it is very good for the country, economy, financial sector and the investors and customers at large.
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