Arpico Finance Company thrives on excellence and performance

Thursday, 26 November 2015 00:00 - - {{hitsCtrl.values.hits}}

Arpico Finance Company PLC has made its mark for the first half performance of the year 2015/2016 by continuously striving for excellence, recording a Rs. 183 million profit before tax indicating a six fold growth for the six months ended 30 September in comparison to last year first half performance of Rs. 28 million.

The financial performance in a nutshell is articulated with the Net interest income enlarged to Rs. 359 million; a rise of 51% over the corresponding period’s Rs. 237 million. Also the total Asset base has risen by 36 % from Rs. 5.2 billion to Rs. 7.1 billion, signifying its development in infrastructure.

Arpico Finance Company PLC being the second oldest finance company in the country has been able to build its trust and reputation by building a deposit base of Rs. 4.8 billion. The majority of the company’s depositors are the older generation indicating the confidence built along the 64 years of service.

The company mainly funds through the mobilisation of ‘Fixed Deposits’. However the method of funding is balanced as it has access to borrowings from the debt market instruments such as debentures, securitisations and bank borrowings.

The company’s product portfolio consists of a varied range of products which includes leasing, hire purchase, corporate and personal loans and Islamic finance products which has grown from strength to strength. This has been achieved by providing the customers with tailor made lending solutions with an improved level of service and the most attractive rates. The diversification of the product mix entails the provision of solutions for all customers.

Arpico Finance Company PLC is concentrating on its core business of hire purchase and leasing where the portfolio stands at Rs. 5.5 billion in comparison to last year of Rs. 3.8 billion, indicating a significant growth of 44%. Leasing performance has upped a gear showing steady performance over the period.

Furthermore the improved recovery process has resulted Arpico Finance Company PLC to maintain an NPL of 3.96%.

Moving forward the company drives towards excellence and growth by exceeding customer expectations.

It is quite evident that Arpico Finance Company PLC has made its mark at the recently held ‘National Business Excellence Awards’ ceremony on 24 November.