Abans Finance records remarkable growth in 2011

Abans Financial Services Limited announced an impressive surge in profits for the year just ended reaping rich dividends from a carefully executed strategy of pursuing sustainable growth.

The company has reported its strongest ever position in terms of corporate earnings and financial stability. Strategic expansion plans saw overall leasing, hire purchase and loan advances increase by 52 percent year-on-year from Rs 1.1 billion in 2010 to Rs 1.68 billion in 2011, while public deposits grew by 47 percent from Rs 1 billion to Rs 1.48 billion in the same period.

The remarkable performance enabled the company to record greatly enhanced pre-tax and post-tax profits in 2011 compared to results achieved a year ago.

“The challenges now for Abans Finance is not just a vigorous growth in their business unit but to work the synergies between them in order to maximize revenues and build a brand,” CEO Mano Alles said.