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Vallibel Finance profits soared in June quarter on new loans

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Vallibel Finance PLC reported higher top and bottom line performances for the three months ended in June (1Q22), aided by higher loans, margin improvement and lower credit costs from the same period in 2020, showing that the company was able to successfully manage the challenges stemming from the pandemic. 

Vallibel Finance reported earnings of Rs.38.70 a share or Rs.569.5 million for the quarter under review, compared to earnings of Rs.11.75 a share or Rs.172.9 million in the corresponding period in 2020, when the virus-induced lockdowns had a deeper bearing on the company. 

The company reported a net interest income of Rs.1.28 billion for the three months, up by a robust 56.8 percent from the same period in 2020, reflecting that the company had its loan book ticking, despite the economic restrictions, while the repricing of its deposits under low interest rates stretched its margins as seen from the 22.5 percent drop in interest expense. 

This is despite the company mobilising fresh deposits worth of Rs.2.09 billion to Rs.34.26 billion. 

Meanwhile, the company, with assets of Rs.57.39 billion, gave loans worth of Rs.1.79 billion, logging a robust 5.3 percent growth for the quarter while its leases grew by Rs.200 billion, translating into a 1.5 percent growth. 

Further, the company largely maintained its asset quality at much better levels than the industry average, with a gross non-performing loans ration at 4.74 percent by June-end, whereas the industry ratio was at 11.30 percent as of March 2021, according to the latest industry data available. 

Meanwhile, the company provided Rs.119.27 million for possible loan defaults and other losses, significantly down from Rs.203.28 million in the year earlier period, in a reflection that the economic hardships confronted by its borrowers weren’t as worse as at the beginning of the pandemic in 2020.  

The company also provides a proxy for how the medium to large-scale licensed finance company sector fared amid the third wave of the pandemic. 

The stronger earnings propelled the company’s return on equity, the widely watched gauge for industry attractiveness for its shareholders to an annualised 27.46 percent by June-end, compared to 23.57 percent three months ago. 

The company’s capitalisation levels and the liquidity level remain above regulatory minimums and adequate enough to sustain the growth momentum. 

 Vallibel Investments Private Limited, the investment vehicle of billionaire businessman Dhammika Perera, together with him held a 73 percent stake in Vallibel Finance by June-end. 

 

 



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SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure

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SLT-MOBITEL marks its triple triumph at the National Business Excellence Awards 2026

Corporate accolades underscore the alignment between its operational excellence and national development

In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.

Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.

Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.

“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.

Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.

However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.

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Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement

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The panel discussion at the engagement

Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.

The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.

In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.

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American Premium Water strikes Gold at Dragons of Sri Lanka 2026

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The achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories.

American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.

Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.

For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.

Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.

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