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Amidst unprecedented disruption brought by the Covid 19 impact, Vallibel Finance has been able to record steady performance weathering many challenges

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Vallibel Finance continued to set the bar soaring with profits before tax (PBT) reaching a high of Rs. 890 Million for the first six months ending September 2020. Total assets crossed Rs. 52 billion growing by 4 percent; resulting in an impressive Balance Sheet, placing the company among Sri Lanka’s largest in terms of assets.

“Vallibel Finance has shown its resilience, owing to prudent management skills and sustainable pursuit of growth. Nevertheless, we consistently remain a step ahead of such external challenges by adopting prudent practices, anticipating customer needs and seeking opportunities to maintain sustainable competitive advantage,” says Vallibel Group Chairman Dhammika Perera.

Deposits, the barometer of public confidence amassed to Rs. 30 Billion, growing exponentially by 8.81% over the previous period. “The first half of the year was turbulent, testing the resilience of the entire country. Yet Vallibel Finance has sailed swiftly through the storm, bettering its own benchmarks, both qualitative and quantitative during a very challenging and daunting period of time. In-timely responses to challenges our staff admirably performed well in implementing our tried and tested strategies well.” says Managing Director Jayantha S. B. Rangamuwa.

He further added “It has been yet another satisfactory performance against the odds, thanks to Vallibel Finance’s home-grown ability of being able to respond to adversity with an aptly resourceful and innovative strategy.”

Meanwhile, the company grew its loan book even during very challenging times by 4 percent reaching Rs. 41.8 billion from a previous Rs. 40.2 billion. Non-performing loans (NPL) ratio of 6.68% mutes testimony to the company’s legacy of financial stewardship during exceedingly challenging times which is far better than the industry average.

Being very optimistic about the outlook, despite the current uncertain situation Vallibel Finance commenced its landmark seventeen story head office complex along with an uninterrupted branch expansion extending its roots to Ambalantota, Thambuththegama, Kohuwala and Ja-ela during the period.

Notably, Vallibel Finance has been honored and awarded as the Brand of the Year 2020 in Sri Lanka, while upgrading its brand rating to “A+”, being a strong and respected industry name.

Also, Vallibel Finance has once again been listed as one of the Great Workplaces to work in Sri Lanka for the second successive years of 2019 and 2020.

 

 



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Hemas Consumer strengthens portfolio with L’Oréal partnership in Sri Lanka

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Hemas Consumer, the leading manufacturer and distributor in Sri Lanka’s beauty and personal care sector has strengthened its portfolio of offerings in a groundbreaking partnership with the world’s number one beauty company, L’Oréal. With this partnership Hemas Consumer obtains distributor rights to leverage its sales network and innovative marketing approaches in taking L’Oréal’s wide range of beauty and personal care brands across Sri Lanka.

Commenting on the new partnership, Sriyan de Silva Wijeyeratne, Managing Director, Hemas Consumer & Executive Director Hemas Group said, “We have spent over fifty years building successful and strong consumer brands in Sri Lanka. In keeping with our promise of consumer delight and trust, we are elated to partner a world-class cosmetics group like L’Oréal expanding our existing portfolio with the world’s most sought-after beauty and personal care products.

We are well equipped in our distribution process with island-wide sales channels to serve all parts of the country. I believe this partnership will revolutionize Sri Lanka’s beauty care industry and more prospects await as we continue to look ahead with L’Oréal.”

Sabrina Esufally, Director Business Development and Innovation at Hemas Consumer said, “This partnership will enable Sri Lankans to access the iconic brands and solutions created through years of research and innovation by L’Oréal. In the fast evolving and dynamic beauty industry, the combined strength of Hemas’s local heritage and penetration, and L’Oréal’s global technology and trust is the perfect recipe for consumer delight.”

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DFCC Bank supports industrial excellence by partnering CNCI Achiever Awards

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DFCC Bank PLC, stepped up once again for the 3rd consecutive year to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2020.

The CNCI Achiever Awards was held for the 19th consecutive time to recognize the outstanding efforts of exceptional performers who have molded their respective industries with innovative solutions, while overcoming challenges and meeting the demands of their clientele. This year, the event was recently held under strict health guidelines at the Galadari Hotel in Colombo. 

Commenting on the sponsorship, Chief Executive Officer of DFCC Bank PLC Lakshman Silva stated, “We are pleased to have partnered with the Ceylon National Chamber of Industries (CNCI), as the Main Sponsor and Official Banking Partner of the 19th CNCI Achiever Awards 2020. DFCC is honored to partner in reconciling successful Sri Lankan businesses from various industrial sectors. Our partnership with this prestigious awards programme aligns seamlessly with our commitment to foster and reward industrial growth across the country and support local entrepreneurs in MSME & SME sectors.”

 

 

 

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Lanka SSL triumphs with National Gold and Top Ten Awards

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CNCI Achiever Awards 2020

Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy & Company PLC, was recently awarded the coveted National Gold Award under the Extra Large category in the Manufacturing Sector at the Achiever Awards 2020 for Industrial Excellence.

The annual event organized by the Ceylon National Chamber of Industries (CNCI) was held in March 2021 at Colombo, and celebrated some of the leading industrialists in the country for their tremendous and continued efforts in uplifting and promoting quality standards, productivity, growth and strategy, R&D, employee welfare and others whilst contributing to both the society and economy at large.

‘We are immensely proud to have been recognized with two very prominent awards at this year’s CNCI Achiever Awards. It is a huge leap from just winning a Merit Award the last time around, and this incredible achievement certainly reflects our highly ambitious plans to strive for continued excellence. We would like to thank our valued customers and all stakeholders. We are grateful to our hardworking and committed staff at Lanka SSL who have made this possible,’ said Pravin De Silva, CEO of Lanka SSL.

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