Vallibel Finance saw its half-yearly pre-tax profit for 2016 climbing to Rs. 581 mn, recording a growth of 58.1% percent over the same period the previous financial year, on the back of strong performances in core financial operations and its increasingly popular product portfolio.
Vallibel Finance consolidated its standing as a leading light in the competitive financial sphere and its half yearly report card affirms the company’s ability to sustain its ascendency, year after year.
Vallibel Finance, nurtured its loan book well, disbursing Rs. 8.5 bn during the first half of 2016, providing impetus for growth for people across the country. The total loan book of the company now stands at Rs. 21.73 bn
Deposits complimented the lending portfolio, growing exponentially by over Rs. 3.55 bn or 27.1% percent by the end of the financial period under review over the previous year with total deposits amassing to Rs. 16.7 bn, firmly entrenching public confidence in the company.
Net interest income grew by 19.2% percent to reach Rs. 936 mn with the total income growing by 43% reaching Rs. 2.27 bn as against the previous figure of Rs. 1.58 bn. Vallibel Finance took adequate measures to keep its Non-performing Loans in check with the figure 3.49% (Gross), 0.55% (Net) indicating an encouraging result considering the volatile market conditions prevalent in the finance sector.
Total assets continued its upward curve growing by 34.7% percent to Rs. 25.64 bn over the previous year’s figure.
Vallibel Finance Managing Director Jayantha Rangamuwa attributes his company’s track record to a far-sighted vision and prudent financial stewardship that ensures winning hearts and minds of people throughout the country through innovative financial tools while at the same time ensuring professionalism and accountability.
The increasing popularity of Vallibel Finance and the respect it commands in the market are evident in its performance which is clearly indicative of the increasing stature of the company.
Vallibel Finance derives its direction and inspiration from corporate leader Dhammika Perera.
Vallibel Finance consolidated its standing as a leading light in the competitive financial sphere and its half yearly report card affirms the company’s ability to sustain its ascendency, year after year.
Vallibel Finance, nurtured its loan book well, disbursing Rs. 8.5 bn during the first half of 2016, providing impetus for growth for people across the country. The total loan book of the company now stands at Rs. 21.73 bn
Deposits complimented the lending portfolio, growing exponentially by over Rs. 3.55 bn or 27.1% percent by the end of the financial period under review over the previous year with total deposits amassing to Rs. 16.7 bn, firmly entrenching public confidence in the company.
Net interest income grew by 19.2% percent to reach Rs. 936 mn with the total income growing by 43% reaching Rs. 2.27 bn as against the previous figure of Rs. 1.58 bn. Vallibel Finance took adequate measures to keep its Non-performing Loans in check with the figure 3.49% (Gross), 0.55% (Net) indicating an encouraging result considering the volatile market conditions prevalent in the finance sector.
Total assets continued its upward curve growing by 34.7% percent to Rs. 25.64 bn over the previous year’s figure.
Vallibel Finance Managing Director Jayantha Rangamuwa attributes his company’s track record to a far-sighted vision and prudent financial stewardship that ensures winning hearts and minds of people throughout the country through innovative financial tools while at the same time ensuring professionalism and accountability.
The increasing popularity of Vallibel Finance and the respect it commands in the market are evident in its performance which is clearly indicative of the increasing stature of the company.
Vallibel Finance derives its direction and inspiration from corporate leader Dhammika Perera.
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