20. Central Finance Company
Central Finance Company ranks at number 20 in the Business Today TOP 30. The Group recorded a profit after tax of 4.1 billion rupees, which is an increase of 9.85 per cent.
Total assets grew by 9.27 per cent to 77.81 billion rupees. This growth was generated from the SME sector, business loans and advances portfolio, which stood at 4.40 billion rupees. Central Industries saw a 38.28 per cent increase in PAT. CF Insurance Brokers performed well during the financial year and recorded a PAT of 141.86 million rupees.
Central Finance was prudent in their decisions, as such while strengthening their core elements, they also realigned their focus according to the changes in the operating environment.
Duty concessions for hybrid vehicles and a movement in the economy created a demand for credit. This was taken as an opportunity to take measures to increase the loan portfolio. Further action was taken to develop the SME sector as well. By consistently reviewing the asset quality, NPL ratio has been brought down to 3.86 per cent. Priority was given to maintain a stable growth in the funding base. Central Finance Company makes no noise as it slowly but steadily grows with a diverse portfolio. That stability will need to continue as the economy opens up.
Board of Directors
Jayampathi Bandaranayake (Chairman)
Eranjith Wijenaike (Managing Director)
1. Shamil Peiris
2. Ravindra Rambukwelle
3. Arjuna Gunaratne
4. Prasanna de Silva
5. Kumar Jayasuriya
6. Sunil Wickramasinghe
7. Faiz Mohideen
8. Nirmal Fernando
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