Softlogic Finance has recorded an unprecedented portfolio growth during the last year. The company, previously known as Capital Reach Leasing, has seen a remarkable transformation as is evident in its performance this year.
“Our advances portfolio has grown by 200%, and we have been able to maintain the quality of our receivables. Our portfolio is undoubtedly among the best-maintained in the industry, with Non-Performing Advances at under 1.5%,” said Nalin Wijekoon, Deputy CEO of Softlogic Finance.
With significant growth in the country’s tourism, transport and construction sectors, Softlogic Finance was able to aggressively grow its business through its branch network located island-wide.
The secret behind Softlogic Finance’s triumphant year is sound management, said Wijekoon elaborating that the company’s operations are streamlined in keeping with the Corporate Governance Principles implemented by the Securities & Exchange Commission and guidelines of the Central Bank of Sri Lanka.
“Our focus remains on sound lending. The public confidence in Softlogic Finance is clearly reflected in the in-growth of the company’s deposit base by 100%. In addition, this year we have been able to successfully raise LKR 1.5Bn through securitization of our receivables. The last securitization completed was for Rs. 384 million, which was also executed with Deutsche Bank appointed as the trustee” he further stated.
Softlogic Finance PLC has embarked on an aggressive growth strategy with plans to expand its branch network and product portfolio to suit the market needs. Its flagship branch in Colombo 3 is expected to be opened in the near future, followed by new branches at strategic locations to support its business plans.
source - www.dailymirror.lk
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