Thursday, 30 July 2020 07:55

Vallibel Finance records Rs.2.4 billion in profit before tax

Vallibel Finance reported yet another year of highs despite market turmoil with Revenue amassing to Rs. 9.7 billion in the financial year ending March against the corresponding figure of Rs. 8.7 billion in the previous financial year.

The top-line bolstered by a growth of 11.12% is all the more commendable weighed against a negative outlook in the socio-economic sentiments prevalent in the country from the double blows of Easter attacks and Covid-19 pandemic.

Non-performing loans (NPL) ratio of 5% mutes testimony to the company’s legacy of financial stewardship even during exceedingly challenging times.

Loan Portfolio expanded to Rs.41.1 billion in the period under review, clocking a growth of 5.4% from a previous Rs. 38.9 billion. Meanwhile, Net Interest Income grew by a healthy 20.64%, crossing Rs. 4 billion as against Rs. 3.3 billion in the previous financial year – a notable achievement against negative sentiments.

Pre-tax Profits for the year under review reached Rs. 2.4 Billion, yet another milestone, growing by 6.93% from the previous figure of Rs. 2.2 billion illustrating the company’s sustained ability to manage its core drivers in the midst of tumultuous times, prudently managing assets and liabilities.

(LIN)

 

 

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