Orient Finance maintains steady growth momentum

Good performance for the third quarter of 2021 with PBT growth of 97%

Orient Finance PLC recorded a profit before income tax of LKR 139 Mn as of December 31st, 2021 for the third quarter of the financial year 2021, demonstrating a growth of 97% in comparison to the corresponding period in the previous financial year. The Company’s net operating income for the period was at 465 Mn indicating an increase of 35% when compared to the previous financial year. Orient Finance’s total assets for the period stood at Rs 17.1 Bn from Rs 14.9 Bn recorded as of 31st March 2021 signalling a robust position.

“Our consistent customer-centric approach that took into account the specific challenges of the pandemic economy enabled us to continue to remain profitable and look after the interest of all our stakeholders. This falls in line with our sustainable approach to business. We operate based on well-researched market data and insights to achieve steady growth and build wealth on behalf of our customers. While the continuing economic challenges stemming from the pandemic-driven economic environment will create hindrances to our growth plans, we are confident of our ability to maintain the growth momentum and adopt prudent strategies in a timely manner. Furthermore, we enjoy an advantageous position as part of the trusted Janashakthi Group, a fact that bodes well for our future prospects,” commented Anil Tittawella, chairman of Orient Finance PLC.

Orient Finance has been a trusted and robust player in the financial arena in the country for the past 40 years, gaining customer confidence with increasing certainty.

In spite of the overwhelming and complex challenges of the past couple of years, we have been able to achieve steady growth. Our performance in the third quarter of the financial year 2021 is indicative of our innate ability to navigate troubled waters skillfully and with foresight. We will continue to seek viable growth on behalf of our stakeholders in the same vein in the years to come,” said K. M. M. Jabir, Director and Chief Executive Officer of Orient Finance PLC.

Incorporated in 1981, Orient Finance has carved a name for itself as an eclectic facilitator of cutting-edge financial solutions to a diverse and growing clientele. With 31 branches representing 31,000 deposit holders and 10,000 lending customers across Sri Lanka, the company provides an array of tailored financial services which includes mobilization of Deposits, Savings Accounts, Leasing, Hire Purchase, Pledge Loans, Factoring, Gold Loan, Working Capital, Corporate Financing and more.

The finance company is listed on the Colombo Stock Exchange and the Board comprises Anil Tittawella PC (Chairman), K.M.M Jabir (Chief Executive Officer), Prakash Schaffter, Minette Perera, Indrani Goonesekera, Sriyan Cooray, Darshana Ratnayake, and Nalin Karunaratne.

Orient Finance PLC is a member of the Janashakthi Group that operates in the Insurance, Finance, Investment, and Real Estate sectors.