Vallibel Finance PLC reported its strongest performance ever on the back of a yet another resoundingly impressive financial year with key indicators for the year 2016/2017.
Gross profits rose by a momentous 45.30%, crossing the 1 billion threshold reaching Rs. 1.3 billion as against the previous year’s figure of Rs. 911 million. The announcement comes in the wake of two global awards for the company from the Banking & Finance Review, capping an extraordinary year of highs.
Income, despite challenging times across markets, grew impressively, reaching Rs.5 billion. The increase in gross income marked a 47.5% increase over the previous year’s figure of 3.46 billion, further consolidating the company’s ability to steer through stormy waters.
“A truly triumphant year, indeed for Vallibel Finance to record its best ever performance and to walk away with two prestigious global awards are laurels that make the entire Group proud of its name-bearer.” says Dhammika Perera, Executive Director and Founder Chairman of Vallibel.
Rising public confidence in Vallibel Finance was once again illustrated by deposits which amassed to Rs. 17.8 billion from the previous year’s Rs. 14 billion, a significant rise of 20.67% considering a highly competitive outlook in deposits mobilization. “The public has once again showed its unbridled confidence in us as our annual report shows a year of unparalleled highs in the history of the company in which Vallibel Finance was also bestowed with international recognition, says Jayantha Rangamuwa, Managing Director of Vallibel Finance.
Crossing yet another milestone was the company’s asset base which leapfrogged to Rs. 30.7 billion from Rs. 22.8 billion in the previous financial year. The 34.8% growth in this key indicator mutes testimony to a new-age financial tradition in the making.
Gross profits rose by a momentous 45.30%, crossing the 1 billion threshold reaching Rs. 1.3 billion as against the previous year’s figure of Rs. 911 million. The announcement comes in the wake of two global awards for the company from the Banking & Finance Review, capping an extraordinary year of highs.
Income, despite challenging times across markets, grew impressively, reaching Rs.5 billion. The increase in gross income marked a 47.5% increase over the previous year’s figure of 3.46 billion, further consolidating the company’s ability to steer through stormy waters.
“A truly triumphant year, indeed for Vallibel Finance to record its best ever performance and to walk away with two prestigious global awards are laurels that make the entire Group proud of its name-bearer.” says Dhammika Perera, Executive Director and Founder Chairman of Vallibel.
Rising public confidence in Vallibel Finance was once again illustrated by deposits which amassed to Rs. 17.8 billion from the previous year’s Rs. 14 billion, a significant rise of 20.67% considering a highly competitive outlook in deposits mobilization. “The public has once again showed its unbridled confidence in us as our annual report shows a year of unparalleled highs in the history of the company in which Vallibel Finance was also bestowed with international recognition, says Jayantha Rangamuwa, Managing Director of Vallibel Finance.
Crossing yet another milestone was the company’s asset base which leapfrogged to Rs. 30.7 billion from Rs. 22.8 billion in the previous financial year. The 34.8% growth in this key indicator mutes testimony to a new-age financial tradition in the making.
www.dailynews.lk
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