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Abstract
Vallibel Finance PLC is a Public Limited Liability company incorporated in Sri Lanka under PB 526/PQ. It is a Licensed Finance Company by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011. The Company’s major financial services related with acceptance of deposits, granting of lease facilities, hire purchases, pawning, mortgage loans, personal loans, other credit facilities and related services in the finance business. The company was incorporated in 1974 and later it has been acquired by Vallibel Investments (Pvt) Limited in 2005. This acquisition has brought a reconstitution of the Board and the senior management staff. Vallibel Investments (Pvt) Limited currently has a stake of 73% of Vallibel Finance PLC. The company has been ranked and listed amongst the top and most valuable 100 brand in Sri Lanka by LMD. Currently, Vallibel Finance operates with a network of 27 branches across the country and the Head Office is located in Colombo. As at the end of the March 2015 the assets and deposits base of the Company stood at Rs. 17.0Bn and Rs. 12.0Bn respectively. So in terms of assets and deposits base of 47 Licensed Finance Companies, Vallibel Finance PLC was in the 12th and 8th place respectively. The lending portfolio of the company has been indicated a 24% growth in 2015 comparing to the previous year records, reaching Rs.12.5 Billion from Rs.9.9 Billion. Also, the company has recorded a profit after tax of Rs.372.0 Million during the financial year of 2015 against the previous year figure of Rs.304.0Million. The oversubscribed debenture issue had taken place in March 2015, which witnessed the financial stability of the company and its reputation among the general public towards the company being a leading financial company in the country.