Orient Finance continues growth momentum in 40th anniversary year

Thursday, 19 August 2021 00:00 - - {{hitsCtrl.values.hits}}

Steady performance for 1Q with PBT growth of 217% to Rs. 59 m

Orient Finance Director and Chief Executive Officer K.M.M. Jabir

Orient Finance Chairman Anil Tittawella

Posting a steady performance, Orient Finance PLC recorded a profit before tax of Rs. 59 million for the first quarter of the financial year 2021/22, indicating a growth of 217% in comparison to the

corresponding period in the previous financial year.

The company’s net operating income for the same period increased by 125% to Rs. 336 million. Total assets for the period stood at Rs. 15 billion in comparison to Rs. 14 billion recorded during the corresponding period in the previous financial year.

Orient Finance PLC Chairman Anil Tittawella said: “The pandemic triggered unprecedented economic and social challenges that negatively impacted all Sri Lankans. As a responsible corporate entity that works not only to achieve business success but also assist our customers build and maintain financial stability, the prevailing status quo has been exceptionally challenging to us.”

“However, we adopted a prudent, customer centred approach to pursue sustainable growth during the period. As a result, we achieved steady growth and succeeded in helping our customers to continue to build wealth,” he added.

He also said the company’s advantageous position as part of the Janashakthi Group played a crucial role in retaining stakeholder confidence.

“While the prevalent pandemic will continue to pose complex economic challenges, we remain confident of our ability to pursue sustainable growth and create value for all stakeholders,” Tittawella said.

Orient Finance recently celebrated its 40th year since inception, illustrating the company’s stability and the trust that it has garnered over the years.

Director and Chief Executive Officer K.M.M. Jabir said: “As we step into a new era after celebrating our 40th year as a trusted and reputed financial institution in Sri Lanka, our first quarter performance gives us the strength to continue to pursue long-term growth. While we continue to navigate the current challenging economic environment with market insights and exceptional customer care, we have already laid out strategic growth objectives to meet our customers’ expectations to achieve lasting success in the years to come.”