Alliance Finance post best ever results with 137% growth
Alliance Finance Company PLC, posted the best ever results with a
phenomenal 137% growth, witnessed After Tax Profits increase to Rs 466
million during the financial year 2011/2012 and the growth in profits
came from the entire spectrum of the company's business segments.
Reduction in costs of borrowing, higher disbursements and optimizing
margins, had been the key drivers of this performance, whist leasing,
hire purchase and gold loans have been the key product segments which
contributed during the year under review, Alliance Finance Company PLC
Chairperson K.S K De Silva said in the company's annual report.
The company's lending had risen by a significant 75%, whilst the Net
Assets had grown by 37% and Net Interest Income increased by 88% during
the year. The asset base had increased by 49% whilst, deposits surged
ahead by 35% to reach a total deposit base of Rs 6.7 billion during the
year under review.
The company had been successful in optimizing its Net Interest Margin
to 9.8% from 7.4% during the previous year. This achievement had been
made more significant, in the context of the high growth in lending of
75% during the year.