Vallibel Finance FY16 pre-tax profits up 44% to Rs. 900 m

Asset base up 35% to Rs. 22 b; Lending up 47 to Rs. 18 b; Deposit base touches Rs. 14 b

Responding with panache yet again to the onus of being name-bearer of one of Sri Lanka’s most respected names in business, Vallibel Finance PLC affirmed its standing as a finance company of distinction with exceptional yearly returns.

The company’s financial performance for the year 2015/16 not only consolidates its recent gains but shows just why it has been listed among Sri Lanka’s top brands by the media.

Vallibel Finance was ranked amongst the top 50 most respected entities in the country by LMD in its 2014 survey and its significant rise in brand equity was recognised in LMD’s top 100 Most Valuable Brand Survey 2015 where Vallibel Finance’s rank rose to 64th, standing alongside some of the greats of the banking and finance sectors.

Vallibel Finance Managing Director Jayantha Rangamuwa attributes the phenomenal rise of the company to visionary business strategy, unwavering accountability and a passionate team. The all-important factor that shapes the company’s future, he avers, is the public confidence in the company.  

“Every business entity starts with great plans but it’s when all great plans beautifully falls into place you know that the company has responded well to its calling.  From evolving strategy that responds to market dynamics, understanding the needs and aspirations of the people you serve, ensuring delivery and accountability, I’m pleased to say that Vallibel Finance has delivered on all fronts,” said Rangamuwa.

A remarkable 44% increase in pre-tax profits and positive indicators across the field points to a yet another impressive year.  Gross profits rose to Rs. 911,735,577 for year 2015/16 as against Rs. 632,942,731 recorded the previous year.

Deposits, the yardstick of public confidence, continued its ascendency, reaching Rs. 14 billion with Rangamuwa attributing it to the company’s insightful strategy that drives prudent financial stewardship on one hand and its ability to win hearts and minds of people across the country.  The fixed deposit growth recorded a rise of 21.72 % over the previous year’s figure of Rs. 12 billion.

Growing at an impressive 34.77% the company’s asset base reached Rs. 22 billion over the previous year’s figure of Rs. 16 billion; numbers that speak eloquently of a finance company which has taken on the giants and a volatile market, turning out a unique brand of financial tools that have inspired growth across Sri Lanka.

Four new branches joined the company’s growing network but the number is an indication of measured expansion built on in-depth analysis of prevailing challenges in the macro environment, as opposed to ambitious marketing objectives. Lending indicators testify to the company’s focus on building relationships within the existing customer portfolio, in addition to acquisition of new customers, reaching new markets and adding up the numbers.  

“We work hand in hand with our customers, offering them financial advice and being with them as they build on their aspirations.  The notable rise in the lending portfolio reflects the effort we put into lateral growth among customers. The lending portfolio increased by 47.03% year on year. Total lendings stood at Rs.18 billion rising from a previous Rs.12 billion.”

Vallibel Finance primarily focuses on hire purchase, leasing, gold loan, fixed deposits, group personal loans, property mortgage loans, education loans and microfinance products deployed via a cutting-edge technological framework. 

The increasing popularity of Vallibel Finance and the respect it commands in the market is evident in its performance which is clearly indicative of the increasing stature of the company.  Vallibel Finance derives its direction and inspiration from visionary corporate leader Dhammika Perera.