Commercial Credit posts Rs. 1.2 b PBT
With remarkable growth levels in its asset base, deposit base and
profit after tax, Commercial Credit PLC declared its provisional
financial statements for the recently concluded financial year
2011/2012.
The net interest income claimed a growth of 153% in the financial
year under consideration from Rs. 0.7 billion in the financial year
2010/2011 to Rs. 1.8 billion. Profit-before-tax recorded an exceptional
growth of 320% from Rs. 0.3 billion in the financial year 2010/2011 to
stand at Rs. 1.2 billion.
The tremendous growth in profit-after-tax stands at 1,259% from Rs.
60 million in the preceding financial year to Rs. 816.5 million. This
underscores Commercial Credit PLC’s success in realising the hidden
potential of Sri Lanka’s finance industry.
Commercial Credit PLC’s asset base increased by 97%. It also enjoyed
a growth in the fixed deposit base amounting to 76% taking the figure to
Rs. 6.8 billion from 3.8 billion in the financial year of 2010/2011.
Equity investors of Commercial Credit PLC enjoyed an impressive figure
of earnings per share amounting to Rs. 3.74 compared to the same of Rs.
0.28 in the preceding financial year.
Cementing its reputation as a premier financial institution
benchmarking the highest international standards of service and
operation, Commercial Credit PLC was adjudged the “Best Finance Company
in Asia” at the international UDC Business Awards in Malaysia.
Commercial Credit PLC showed growth in the fixed deposit base
amounting to 76% that stands at Rs. 6.8 billion at the end March 2012.
CEO of Commercial Credit Roshan Egodage said, “Undertaking broad
strategic investments in IT infrastructure and enriching our culture
through means such as Value Day and Family Days, we justify our vision
of being a company admired for its people, partnership and performance.
“The timely execution of the three year corporate plan branded as the
‘Winning Strategies - A new Era of Excellence and Team Work’ under the
guidance of international strategic consultants, MTI Consultants coupled
with the increased focus on customer development will further strengthen
the competitive strategic position of Commercial Credit in local finance
industry”.
With its proven track record of unequalled successes and a strong
plan for the future, the company’s leadership is confident of achieving
the ambitious goals it has set itself for the future. While the numbers
may seem ambitious, CEO Egodage is confident that they can be achieved. |