Vallibel Finance opens in Kurunegala

Saturday, 17 December 2011 00:00 - - {{hitsCtrl.values.hits}}

The rising star in the financial sector, Vallibel Finance, added the ancient rock capital to its network of island wide branches in a recent development. The new Vallibel Finance branch in bustling Kurunegala is the company’s latest expansionary venture, arriving on the back of noteworthy performance through the year.

“ We are pleased to be making an entrance in to such a thriving business community”, stated Managing Director Jayantha Rangamuwa of the youngest arm of the Vallibel group, “ We hope to increase our trusting base of investors through the move while also enhancing the access current investors have to our quality services and personalised customer care.”

Growing substantially since its acquisition by the group, Vallibel Finance announced healthy financials at the end of the 1H of FY 2012. Total assets stood at Rs. 5.4 billion as at end-September 2011, while Pre Tax Profits recorded Rs. 196 million.

Through rigorous lending practices and steady bad debt recoveries the company has succeeded in maintaining a Non-Performing Loan (NPL) of 1.07% over the first half of the new year.

The financial prong of the powerful Vallibel Group, Vallibel Finance continues to draw strength from its well-established parent. Backed by the Vallibel name, the product portfolio consisting primarily of Leasing, Hire Purchase, Fixed Deposit, Gold Loans, Business and Personal Loans has carved out a name for itself for quality and efficacy.

Extending these services throughout the country the young financial powerhouse pursues an aggressive expansion strategy with Kiribathgoda, Matara and Kurunegala listing among the latest additions to its sprawling network.

“Kurunegala represents another new beginning for Vallibel Finance,” stated Mr. Rangamuwa, “As 2011 draws to a close, Vallibel Finance can proudly speak of a year of successful operational changes and sustained expansion.”

Vallibel Finance opens welcoming doors to Kurunegala on 25 November 2011 at No. 395, Colombo Road, Kurunegala.