Excellent results for Vallibel Finance

Vallibel Finance, ended the first half of fiscal year 2011/2012 on a triumphant note, recording high growth statistics.

Dhammika Perera

The total asset base of the company rose by 39.41% from Rs 3.88 billion at March 31, 2011 to Rs 5.41 billion at September 30, 2011, attributing its growth to the accumulation of a portfolio of diverse liquidity and value.

The company specializes in catering to a wide range of retails and SME customers with a portfolio of cutting-edge financial products in hand.

Its key growth segments of Leasing, Hire Purchase and Gold-based loans have been performing above-standard within the first six months of the new fiscal year and showed lendings increasing by 41.57 % from the Rs 3.26 billion recorded at the start of the year to Rs 4.61 billion at the end of the second quarter.

Fuelled by attractive rates plus the stability and security promised by the parent Vallibel Group-a trusted corporate player with stakes in some of the best companies in the country including Royal Ceramics, LB Finance, Delmege Forsyth, PABC Bank, Hayleys and Amaya Resorts-the company’s deposit base has increased to Rs 3.36 billion as at September 30, 2011, growing by 29.29% from the Rs 2.59 billion recorded as at April 31, 2010.

Group Chairman Dhammika Perera said it is a testimony to the competency Vallibel Finance brings to the financial sector.