Softlogic Finance records healthy growth

Raises Rs 1.5 billion through securitization:

Softlogic Finance has recorded an unprecedented portfolio growth last year. The company, previously known as Capital Reach Leasing, flying the flag of Softlogic Group since its acquisition last year, has seen a remarkable transformation as is evident in its performance this year.

“Our advances portfolio has grown by 200 percent and we have managed to maintain the quality of our receivables. Our portfolio is undoubtedly amongst the best-maintained in the industry, with Non-Performing Advances at under 1.5 percent,” Softlogic Finance Deputy CEO Nalin Wijekoon said.

With significant growth in the country’s tourism, transport and construction sectors, Softlogic Finance was able to aggressively grow its business through its branch network located islandwide.

The secret behind Softlogic Finance’s triumphant year is sound management Wijekoon said, elaborating that the company’s operations are streamlined in keeping with the Corporate Governance Principles implemented by the Securities and Exchange Commission and guidelines of the Central Bank of Sri Lanka.

“Our focus remains on sound lending. The public confidence in Softlogic Finance is clearly reflected in the growth of the company’s deposit base by 100 percent.

In addition, this year we have been able to successfully raise Rs 1.5 billion through securitization of our receivables. The last securitization completed was for Rs 384 mn, which was also executed with Deutsche Bank appointed as the trustee,” he further stated.

Softlogic Finance PLC has embarked on an aggressive growth strategy with plans to expand its branch network and product portfolio to suit the market needs.

Its flagship branch in Colombo 3 is expected to be opened soon, followed by new branches at strategic locations to support its business plans.