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Monday, September 26, 2022

Orient Finance concludes 2021/22 with Rs. 470 mn PBT – The Morning

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Orient Finance PLC’s strong fundamentals and customer-centric business model continued to empower the company to overcome market challenges and register steady growth through the financial year 2021/22, with the company reporting Rs. 470.7 million in profits before tax (PBT) for the year ending 31 March 2022, recording an outstanding growth of 143.20%, year-on-year. 

“It gives me great pleasure to note that Orient Finance has been able to rise above ongoing challenges and maintain its growth momentum through FY 2021/22 to continue delivering greater value to all stakeholders. This has been made possible by our team’s steadfast commitment to catering to the evolving needs of our customers through various stages of their lives and shifting market realities, through our sound investment strategy and tailor-made financial solutions,” said Orient Finance PLC Chairman Rajendra Theagarajah. “Building on our strong fundamentals as part of the trusted Janashakthi Group, we look forward to making steady and sustained progress along this growth trajectory.”

Net operating income stood at Rs. 1.7 billion, growing by 38.8% over the previous year. The company concluded the year with assets of Rs. 17.8 billion, up from Rs. 14.9 billion in FY 2020/21.

“Our customers have always inspired us through their unwavering faith in the brand and the support they continue to extend to us, especially during the current health and financial crisis. This, together with the ingenuity, commitment, and relentless efforts of our team members, gave us the strength to deliver such phenomenal performance in these trying times. Encouraged by these results, we would like to recommit ourselves to creating unmatched value for all our stakeholders,” said Orient Finance PLC Director and Chief Executive Officer (CEO) K.M.M. Jabir.

Incorporated in 1981, Orient Finance now maintains 31 branches representing 31,000 deposit holders and 10,000 lending customers across Sri Lanka, and provides an array of tailored financial services which includes mobilisation of deposits, savings accounts, leasing, hire purchase, pledge loans, factoring, gold loans, working capital, corporate financing, and more.

The finance company is listed on the Colombo Stock Exchange (CSE), and the Board comprises Rajendra Theagarajah (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.

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